Insurance Companies and Property Damage in California
When you are involved in a car accident, you are entitled to seek reimbursement from the at-fault driver for not only your injuries, but also damage to your vehicle, lost personal belongings, and more. Such vehicle-related property damage claims might seek compensation for the following:

Cost to repair your vehicle
Fair market value of the car, if it’s a total loss
Rental car costs while your car is in the shop
Replacement value of upgrades you made to your car, like a stereo system or special wheel rims
Additionally, you would include in your claim any lost or damaged personal property inside the car.

 

This might include:
Mobile phones
Laptops
Jewelry, including smart watches
Ruined clothing
Sunglasses and prescription eyeglasses
You can file a claim for any property that was lost in the accident, even time-sensitive items like groceries.

​

How to Resolve Property Damage Claims in a Car Accident
In California, there are three main avenues for resolving property damage claims resulting from a car accident. They are:

Repaired to Original Condition
The damage to your car can be repaired and returned to its original condition (or at least as near as possible). The insurance company or the uninsured negligent party must pay for the cost of the repairs.
 

Fair Market Value
Extensive damage to the car could mean that the cost to repair the vehicle will exceed the value of the vehicle. In that case, you will be paid at fair market value for the damaged vehicle.
 

Fair market value is defined as the highest price that a willing buyer would have paid to a willing seller, assuming the following two factors: That there is no pressure on either one to buy or sell; and
That the buyer and seller are fully informed of the condition and quality of the automobile.

Payout from the Insurance Company
Another option for recovering funds for property damage in California is to estimate the reduced value of your vehicle after it sustained property damage and estimate the repair costs. The insurance company may compensate you for the cost of repairs, and you can choose whether to have your vehicle repaired or replace it.

To determine the reduction in value of the car, you must determine the fair market value of the car before the harm occurred and then subtract the fair market value of the car immediately after the damage occurred.