Over 40,000 fatal car accidents happen in the United States each year. In 2018, 8.4 million drivers were involved in a crash. Survivors of car accidents who are lucky enough to be free from injury may, however, suffer property damage. It was reported that nearly 8,464 drivers got into a property damage collision and the damages were estimated to be around $53.1 million.
What is covered under your property damage claim is dependent on your insurance policy and state laws. For professional advice regarding property damage, please contact our 24/7 legal team by calling 213-927-3700 or filling out our quick contact form.
Property damage and personal injury are considered separate issues. Property damage refers to the destruction of a personal estate by means of another’s negligence or voluntary behavior.
The amount collected for a property damage claim is relative to the replacement value, repair costs, loss of use, and sentimental value of the damaged object or estate.
Property damage car insurance is required by law in most states. The purpose of this insurance is to help you cover the incurred costs of damage done by your vehicle. It is meant purely for the other party and does not cover your personal expenses. In California, it is mandatory that car owners have a minimum of $5,000 worth of coverage.
Normally, this coverage is used for:
Since property damage claims cast a wide net over what is covered, determining the recovery costs can be tricky. Many wisely choose to hire a property damage lawyer to help measure the value of objects that were destroyed. Listed below are a few considerations taken when examining recovery costs.
As times change and the economy fluctuates, the value of the property may change, as well. While some items become vintage, others will depreciate in value. Insurance companies are usually inclined to pay the market value of the object damaged rather than the actual cash originally spent. When collecting funds from a damage claim, you may also be entitled to:
West Coast Trial Lawyers will not charge you for a consultation. Our clients are represented on a contingency fee basis. If we do not win, you owe us nothing. There is no financial risk to prevent you from reaching out. Our qualified personal injury lawyers are highly-trained and have extensive experience with cases that are similar to yours. We are committed to helping you resolve your legal issues as quickly as possible while receiving the best results.