New
York is a “no-fault” insurance state, but those laws apply only to injuries
in a car accident and not to claims for vehicle damage. Within certain limits,
reimbursement is the responsibility of the driver who caused the accident and their
insurance.
In many cases, a vehicle owner will need the assistance of New York City car accident lawyers to collect the full amount of their claim. For more than twenty years, we have helped individuals to recover the funds they need to repair their cars. We make it our business to pursue every source of recovery to get our clients back on the road with no repair expenditures on their part.
How Do Insurance
Policy Limits Affect Collision Damage Reimbursement?
New
York car owners are required to carry at least $10,000 in collision damage
insurance coverage. Further, an insurer in New York is liable for repair costs
only up to a car’s book value. When the damage exceeds the limits of a
negligent driver’s coverage or a vehicle’s book value is less than its repair
costs, an individual will need to look to other reimbursement sources. This
often requires filing a lawsuit directly against the negligent party and to
pursue recovery from their insurance policy.
Will A Car
Owner’s Insurance Pay for Vehicle Damage if the Owner Caused the Accident?
A car owner’s insurance will cover repairs, less any deductibles, if the owner is in a single car accident, or is otherwise responsible for damage to a vehicle. However, New York insurance companies will inevitably raise a car owner’s insurance premiums. In addition, they may terminate insurance altogether if the owner makes several damage claims. Individuals who want to maintain lower insurance premiums or are concerned about losing their insurance will benefit from retaining a personal injury attorney in New York.
We Are Available for You 24/7.
Call 646-594-1112 for a Free Consultation
Will GAP
Coverage Pay for Vehicle Damage?
A
car owner might carry guaranteed asset protection (“GAP”) coverage
for reimbursement, particularly when the owner has financed the car. The book
value of it depreciates quickly. An insurance company might declare it to be a
total loss if it has suffered extensive damage in an accident. If the book
value is less than the balance of the car loan, the owner will be liable to the
lender for the difference. GAP coverage reimburses that difference.
Injured in a car accident? Tap to call for a FREE consultation!
How Do
Insurance Companies Determine Vehicle Damage Repair Costs?
Insurance
companies use formulas that are intended to provide an objective estimate of
repair costs. Those estimates, however, might be based on inexpensive or
pre-owned replacement parts. This can reduce the value and reliability of the car
after repairs are complete. Insurers might also require their clients to use
lower-cost body shops that do not provide reliable services. An experienced
lawyer can help a car owner receive a fair, objective, and reasonable repair
estimate from their insurer.
Will
Comparative Negligence Reduce Reimbursements for Vehicle Damage Repairs?
Under
New York law, the reimbursement that can be recovered from a negligent party
for both injuries and vehicle damage will be reduced in proportion to the
victim’s liability. If, for example, a car owner suffers $10,000 in damage to their
vehicle but is deemed to be 20% responsible for the accident, they will only be
able to recover $8,000. In all cases, comparative negligence is based on the
specific facts of an accident. Again, an experienced lawyer can frame the facts
of an accident to minimize the impact this might have to recover the full
amount necessary.
Call Douglas
and London for Assistance in Recovering Maximum Reimbursements for Accidental
Vehicle Damage
Please see our website or call Douglas & London directly to speak with our New York City personal injury lawyers. We can help you recover compensation to pay for repairs in Manhattan, the Bronx, Long Island, Brooklyn, Queens, and anywhere in New York. We will challenge the insurance companies for you and recover the largest available compensation to repair your car.
Resources:
- www.nolo.com: Car Accident Vehicle Damage: Your Auto Repair Options. https://www.nolo.com/legal-encyclopedia/car-accident-vehicle-damage-your-auto-repair-options.html
- www.dfs.ny.gov: Automobile Insurance. https://www.dfs.ny.gov/faqs/consumer_faqs/automobile
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