What happens if the policyholder is involved in a hit-and-run collision?

When a policyholder is involved in a hit-and-run collision, reporting the incident to the police is a necessary step. This is crucial for several reasons. Firstly, filing a police report helps document the incident officially, creating a record that can be valuable for insurance claims. It also assists law enforcement in identifying the responsible party if possible and helps prevent future incidents.

Additionally, many insurance policies require policyholders to report accidents, especially those involving uninsured motorists or hit-and-run situations, to receive coverage for damages, medical expenses, or any other compensable losses. By fulfilling this obligation to notify the authorities, the insured protects their interests and follows the procedural requirements that most insurance companies expect when processing claims related to such collisions.

In contrast, ignoring the loss or opting not to involve the police could complicate or jeopardize the insured's ability to receive compensation. Therefore, the necessary action in this scenario is to promptly report the incident, ensuring proper documentation and compliance with the insurance policy's requirements.