Personal injury accidents can cause severe injuries and significant property damage. If another party has caused your accident, you can seek compensation for your economic and non-economic damages, including property damage.
What Is Included in a Property Damage Claim in Chicago, IL?
Property damage is harm caused to personal property (i.e., motor vehicles, cell phones, laptops, etc.) or real property (i.e., homes and real estate). For example, a car accident can result in numerous types of damage to your vehicle, including damage to the exterior, frame, interior, and operating systems.
A property damage claim may include several losses related to the accident, including:
- Towing expenses
- Vehicle storage fees
- Rental car fees
- Loss of use of the vehicle
- Diminished value
- Repair costs or the value of the property if it cannot be repaired
Illinois requires drivers to have a minimum of $20,000 in property damage coverage as part of their liability insurance policy. A liability insurance policy covers damages you cause to another person’s property. It does not pay for damage to your own property.
Third-Party Liability Claims for Property Damage After a Chicago Car Accident
Illinois is an at-fault state for car accidents. If you prove that another party caused your car accident, you can seek economic and non-economic damages from that party. Property damage claims are economic damages. Typically, property damage claims are settled separately from personal injury claims.
You can file a claim against the at-fault driver’s liability insurance if your car or other property is damaged. The insurance company should pay to repair the property. You may request to choose the repair facility or mechanic to perform the repairs.
Before choosing a repair facility, obtaining two or three estimates for repairs is wise. You want to ensure that all repairs are included in the estimate, and another facility may catch damages that the first inspection did not catch. You should also demand that the insurance company pay for new parts designed for your vehicle instead of aftermarket or used parts.
When a vehicle is totaled, the insurance company should pay the owner the fair market value for their vehicle. Usually, an insurance company totals a vehicle when the repairs cost more than the value of the vehicle, or the repairs exceed a specific percentage of the value of the vehicle.
A fair market value for a vehicle is based on:
- The year, model, and make of the vehicle
- The vehicle’s mileage
- Special equipment or systems
- The current market for a similar vehicle in your geographic area
- The condition of the vehicle before the accident
Gather as much documentation as possible proving any special additions or equipment for your vehicle. If you have an expensive or specialty vehicle, you may need appraisals from experts to assist with the property damage claim. If an insurance company refuses to pay you the fair market value for your vehicle, talk with a Chicago car accident attorney.
Does Comparative Fault Apply to a Property Damage Claim?
Illinois has a modified comparative fault standard that applies to accident claims. If an accident victim is 51% or more to blame for causing the incident, they cannot recover damages. Therefore, they are responsible for all costs related to the accident, including their property damages.
If an accident victim is less than 51% to blame, they may recover a portion of their damages. For example, if a victim is 20% to blame for causing their accident, they could receive up to 80% of the value of their damages, including property damage.
First Party Property Damage Claims
First-party claims are filed by policyholders with their insurance company. Liability insurance does not compensate you for damage to your property after an accident. However, if you have other types of property damage insurance, you may receive compensation for property damage from your insurance company.
Examples of car insurance that may cover a first-party claim include:
- Collision coverage compensates the owner for damage caused by a car accident. However, if you have a lien on your vehicle, the payment is made to your lender to pay off the loan.
- Gap insurance covers the difference between your loan payoff and the property damage settlement.
- Towing insurance pays the expense of towing your vehicle.
- Rental car insurance pays the fee to rent a vehicle while your vehicle is inoperable.
Dealing with your insurance company may not be easy. Insurance companies treat all claims the same, whether the person is a customer or not. Therefore, do not presume that your insurance provider will offer a fair amount to settle your property damage claim. If you need help, call a personal injury lawyer.
Learn More From Our Chicago Personal Injury Lawyers During a Free Consultation
Property damage and personal injury claims compensate victims for the harm caused by negligent parties. Call Powell and Pisman Injury Lawyers to schedule a free case evaluation with an experienced Chicago personal injury attorney at (312) 635-5400.