When a personal injury accident occurs, it often results in not only physical injuries but also property damage. In Colorado, those who have been involved in a personal injury accident due to someone else’s negligence may be eligible for compensation for property damage as well as any other losses incurred.
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Understanding Property Damage Claims in Colorado
Property damage can include damage to vehicles, homes, personal property, or any other physical property that has been damaged as a result of an accident. In Colorado, the law requires drivers to have liability insurance, which covers property damage in addition to bodily injury.
However, compensation for property damage can also be sought through a personal injury claim if the accident was caused by someone else’s negligence. This compensation is typically referred to as "property damage" or "property damage loss."
Types of Damages Covered in Property Damage Claims
The types of damages covered in property damage claims can vary depending on the specific circumstances of the accident. Some common damages that may be compensated for include:
Cost of Repair
If the property can be repaired, the cost of repair will be compensated. For example, if a car is involved in an accident and requires repairs, the cost of the repairs will be covered.
Replacement Cost
If the property cannot be repaired, it may need to be replaced. In this case, the replacement cost of the property will be covered. For example, if a car is totaled in an accident, the cost to replace the car will be covered.
Diminished Value
If the property that was damaged was a vehicle, compensation may be available for the diminished value of the vehicle. Even if the vehicle has been repaired, it may still lose value due to the accident.
How Property Damage Claims are Calculated
To determine the amount of compensation that the victim is entitled to for property damage, an evaluation of the damages is conducted by an expert. The expert typically looks at the type of damage, the cost of repairs or replacement, and other relevant factors.
If the damages are difficult to evaluate or require more expertise, a second expert may be called upon to provide an opinion. Once the value of the damages is determined, it can be added to the value of the bodily injury damages to provide a complete picture of the total damages suffered.
Dealing With Insurance Companies
When an accident occurs, the victim may deal with their own insurance company as well as the insurance company of the at-fault party. Insurance companies may be hesitant to provide full compensation for property damage losses, so negotiating a fair settlement may require the assistance of an experienced personal injury lawyer.
Conclusion
In Colorado, those who have suffered property damage in a personal injury accident caused by someone else’s negligence may be eligible for compensation. Compensation can cover the cost of repair, replacement cost, and diminished value. An experienced personal injury lawyer can help victims obtain a fair settlement for their losses.