- 06 Apr
What Does Filing a Property Damage Claim Mean?
What’s worse than being in a car accident? Realizing your car took most of the impact. You are left with no way to get to work or pay your bills. Fortunately, you can file a property damage claim with your insurance company. It is important to know your rights. How can the property damage claim help you and how does filing it work?
A property damage claim means you can get:
- Damages repaired on your vehicle. The liable insurance company will pay a fixed amount of the repairs. The repair process is fairly quick and you are likely to get your vehicle back in a short amount of time.
- A Replacement car. If your car is beyond repair or totaled then the insurance companies must provide you with a replacement car.
- Rental car that is similar in size to your vehicle. With the property damage claim, the insurance company should provide you with a rental car similar to the car that you previously owned. E.g. if you owned a truck then they should give you a rental truck or car equivalent to that size. If you’re 6’ 10” and the insurance company puts you in a small compact car that could be a safety hazard. If the insurance company fails to provide you with a rental car you can demand one (one of the many rights we were talking about).
Tip: With the PD claim, the insurance company should provide you with a rental car similar to the car that you previously owned.
- Compensation for your damaged vehicle. How much money you receive is based off the actual cash value (ACV) of your property. This is usually determined by an insurance adjuster using Kelly Blue Book or CCC information services. If repairs equal more than the ACV of the car, insurance companies will write you a check for the value of the car.
A property damage claim is easier to settle than personal injury protection claims or bodily Injury claims. Take the initiative and contact the insurance companies first. Most of the time, these claims can be settled over the phone.