You may know that your homeowners’ insurance will cover medical and other expenses in the event that a visitor is injured in your home or on your property. But what about injuries sustained by you or your family members while…(0) Comments READ MORE
Property damage in a personal injury lawsuit typically refers to the damage or destruction of a motor vehicle that has been involved in an accident. However, other types of property can be harmed by others’ negligence or wrongdoing, including:
A property damage claim requires an appraisal of the property’s value before and after it was damaged and an estimate of the cost to repair or replace the property.
After a serious car accident, your vehicle will need to be repaired or replaced. The insurance company may declare your car “totaled.” This means that an insurance claims adjuster has determined that your vehicle is so badly damaged that it would make more fiscal sense to pay the actual cash value of the car than to repair it.
Issues can arise concerning:
If your car is a classic or rare vehicle, or it has upgrades such as custom paint or after-market parts, it may have value that the insurance company does not recognize or has chosen to ignore. An attorney can help you to sort through these and other issues with the insurer.
Property damage issues can and should be resolved at the outset of personal injury litigation that arises from a car accident. After all, you will need transportation right away.
Virginia law allows accident victims to seek not only the costs to repair property damaged by another person’s negligence, it also allows a person to seek payment for the damaged property’s reduced value.
For instance, a car that has been repaired may work perfectly well. However, its resale value may be far less due to its involvement in a wreck.
This is known as “diminished value” or “diminution in value” claim. It can be applied to all types of property damage.
It is important to get help from an attorney if you are facing a property damage claim in Richmond or elsewhere in Virginia. To learn more, contact Geoff McDonald & Associates.