Who
do I report a claim to, Parkway or my agent?
What do I do if I am sued for an accident?
What happens if I do not know where to take
my car for repairs?
What if a licensed repair facility of my
choice will not repair my vehicle for the estimate prepared by
Parkway's appraiser?
What if my vehicle cannot be repaired?
If I have a Personal Injury Protection Claim
(PIP), how will I know if my medical bills are being paid?
If Parkway disputes the amount billed by
a medical provider, do I have to pay the difference?
Will Parkway help me recover my collision
deductible when I am not at fault for an accident?
Why is New Jersey Car Insurance So Expensive?
How
you can control your own auto insurance costs!
| Who
do I report a claim to, Parkway or my agent? |
TOP |
In
most cases, you will report new claims to your agent. If your
agent prefers, however, we will be glad to take first reports
directly from you by phone, fax, mail, or via our online website
form. Our phone number is (800) 821-1818. At the recording,
select the option for reporting new claims.
| What
do I do if I am sued for an accident? |
TOP |
You
should immediately forward any legal papers you receive (Summons
and Complaint) to your Parkway claim representative. He or she
will explain how the lawsuit will be handled.
What
happens if I do not know where to take my car for repairs?
|
TOP |
If
you have not selected a repair facility, we will be happy to
recommend one in your general area. In most cases, we will be
able to recommend a Parkway Express Repair Facility.
| What
if a licensed repair facility of my choice will not repair
my vehicle for the estimate prepared by Parkway's appraiser? |
TOP |
If
a repair facility states that necessary repairs will exceed
Parkway's written estimate, we will review the estimate within
10 working days and either issue a supplemental payment, or
provide you with the name of a repair shop that will make repairs
in accordance with generally accepted standards for safe and
proper repairs.
| What
if my vehicle cannot be repaired? |
TOP |
If
your vehicle cannot be repaired, we will pay you the actual
cash value of the vehicle as determined by the appropriate method
approved by the New Jersey Department of Insurance.
| If
I have a Personal Injury Protection Claim (PIP), how will
I know if my medical bills are being paid? |
TOP |
Whenever
a payment is made to a medical provider, an explanation of benefits
(EOB) will be sent to you. The EOB will show deductibles and
copayments as well as adjustments to the provider's billing
rate.
| If
Parkway disputes the amount billed by a medical provider,
do I have to pay the difference? |
TOP |
In
most cases the answer is "No". If a medical bill is
disputed, medical providers are prohibited from seeking payment
from a patient.
| Will
Parkway help me recover my collision deductible when I am
not at fault for an accident? |
TOP |
Parkway's
Subrogation Department aggressively pursues recoveries on behalf
of Parkway and its policyholders. Even though we will make every
effort to do so, we may not be able to recover your deductible
if the responsible party is not insured or disputes the facts
of the accident. Parkway endeavors to return the deductible
to a policyholder within one day of recovery from the responsible
carrier or individual.
| Why
is New Jersey Car Insurance So Expensive? |
TOP
|
We
are all aware that automobile insurance in New Jersey is very
costly. On average, we pay the highest premiums in the nation.
Why do New Jersey drivers have such high insurance costs? Certain
characteristics of our state drive up the cost of auto insurance
in New Jersey and contribute to the rates you pay:
Demographics
– With its 1,065 people per square mile, New Jersey is
the most densely populated state in the nation. As a result,
we have more registered motor vehicles per square mile (782)
than any other state. Add to this New Jersey’s more than
34,000 miles of roads and highways and it’s not surprising
that there were more than 250,000 reported accidents in 1998.
Lawsuits – When you consider that more
than 164,000 "pain and suffering" lawsuits were filed
in the last three years in New Jersey, you can begin to understand
the enormous costs incurred by insurance companies to defend
policyholders against these suits and to settle these types
of claims. New Jersey insurers have paid more than $12 billion
in the last eight years to resolve these types of lawsuits.
Medical Costs – The rising cost of medical
care continues to be a major contributor to the cost of auto
insurance in New Jersey. Insurance companies have paid over
$3.2 billion in the last four years for medical claims resulting
from auto accidents.
Insurance Fraud and Abuse – The Washington D.C.-based
Coalition Against Insurance Fraud estimates that auto insurance
fraud and abuse annually costs each household in New Jersey
$297.50 or about $800 million a year.
Auto Theft – Auto theft in New Jersey
continues to be a major cost factor. While the number of auto
thefts has decreased in recent years, the cost of replacing
stolen cars and parts continues to increase.
Uninsured Drivers – There are an estimated
400,000 to 600,000 uninsured drivers on New Jersey’s roads
and highways. When an uninsured driver causes an accident, he
or she may be fined or penalized for driving without insurance,
but it’s the insured driver’s insurance company
that pays for the damage.
High Cost of Living – New Jersey’s
cost of living makes auto repairs and medical treatment more
expensive than in other states.
| How
you can control your own auto insurance costs! |
TOP |
All
drivers are concerned about the high cost of auto insurance. The
following are some tips on how you can control your own costs
and spend your premium dollar wisely:
Shop
Around – With the new tiered rating system and
cost saving reforms, premiums vary widely as New Jersey moves
to a more competitive marketplace. It pays to call an independent
insurance agent or several insurance companies. They can help
you compare prices and levels of coverage before purchasing
or renewing an auto insurance policy.
Raise Your Deductibles – A deductible
is the amount of money you contribute before the insurance company
begins to pay. The higher you set your deductibles, the lower
your insurance premium will be.
Change Your PIP Benefit Options – You
may have your auto insurance company provide primary PIP benefits
or you may choose to have your health insurance provider be
the primary payer for auto accident-related medical bills. Check
first to see if your health plan offers primary coverage for
auto accident injuries before selecting this option.
Choose the new Limitation on Lawsuit Option – Select this
threshold instead of the zero dollar threshold option. Depending
on the insurer, policyholders can save as much as 75% on their
bodily injury and property damage liability coverage premium.
The new threshold allows you to sue for "pain and suffering"
should someone else injure you in an accident and the injuries
are: serious injuries which your physician certifies are permanent
in nature or result in death, dismemberment, loss of a fetus,
displaced fracture or significant disfigurement or scarring.
Selecting this threshold does not diminish your medical benefits
coverage.
Investigate Discounts – Policyholders
are often eligible for a number of discounts including, multicar,
good student, defensive driving, carpooling and discounts for
safety features and anti-theft devices. Also ask your insurance
agent or insurance company if they offer discounts to members
of any of the organizations to which you belong.
Take a State-Approved Defensive Driving Course
– Motorists who successfully complete an approved motor
vehicle defensive driving course may receive discounts on their
auto insurance. For a list of the approved courses call the
Department of banking & insurance at 1-800 446-SHOP.
Buy A Safe Car – Before you buy a car,
find out how expensive it will be to insure. The prices can
vary significantly depending on the make and model and whether
the car contains safety features.
Check the Institute for Highway Safety to see how your car ranks
Drive Safely – One of the best ways to
keep your insurance premiums down is to maintain a good driving
record.
