A property damage claim arises when you suffer property damage as a result of someone else’s misconduct. If you have a viable property damage claim, you might be able to file an insurance claim or a lawsuit to recover your losses.
Property Damage Claims That Arise in Conjunction With Personal Injury Claims
Courts often (but not always) resolve property and personal injury claims together, including in the following instances:
- Vehicle repair or replacement following a car accident
- Loss of personal belongings inside a vehicle
- Damage caused by a slip and fall accident
- Replacement of clothing or other personal items after a dog bite
- Repair or replacement of a bicycle or motorcycle that collides with a motor vehicle
- Repair or replacement of medical devices after an accident
- Property restoration after a fire caused by someone’s negligence
- Restoration of landscaping after a negligent act
- Repair or replacement of a boat after a boating accident
- Repair of a structure damaged by a construction accident
These are only a few examples out of thousands of different property damage claims that arise every year. Remember that under Nevada’s statute of limitations, you typically have three years to file a property damage lawsuit but only two years to file a personal injury lawsuit.
Types of Property Damage Insurance
Nevada property damage claims incident to personal injury claims frequently involve auto, homeowner, renter, or umbrella insurance. See below for brief explanations of typical coverage. If you own any of these types of policies, carefully read your insurance contract, as the language of your policy is critical.
Auto Insurance
Nevada requires drivers with cars registered in Nevada to purchase the following types of insurance:
- $25,000 per person for bodily injury liability;
- $50,000 per accident for bodily injury liability; and
- $20,000 for property damage liability.
These limits are frequently insufficient to cover actual claims.
You can also purchase the following types of optional insurance to cover various forms of property damage:
- Supplementary property damage liability insurance: Any property damage liability coverage over the state-mandated $20,000 minimum is considered ‘supplementary.’
- Collision insurance: Collision insurance covers damage to your vehicle from a collision, even if the accident is your fault. This type of insurance covers either (i) repair of the damage to your vehicle or (ii) money to compensate you for your loss.
- Comprehensive insurance: Comprehensive coverage insures you against theft, wind, falling objects, fire, flood, vandalism, or other damage to your vehicle resulting from causes other than a collision.
Read your policy carefully to determine the precise extent of your coverage, and consult an attorney for further clarity.
Homeowner’s Insurance
Almost every homeowner could benefit from purchasing homeowner’s insurance. Mortgage lenders typically require it.
The following are some examples of typical coverage:
- The structure of your home. This includes the walls, the roof, the foundation, and built-in appliances. It kicks in when your home suffers damage from fire, storms, hail, lightning, vandalism, theft, and certain other dangers.
- Other structures. Structures that are not attached to your home, such as detached garages, tool sheds, fences, and outdoor swimming pools.
- Personal property. Damage or theft of belongings inside the house, such as furniture, appliances, electronics, clothing, and other personal items.
- Loss of use coverage. This can apply if your home becomes uninhabitable for a covered reason. Coverage can include temporary housing, meals, and storage during the repair of your home.
Some policies may also offer additional coverage options–fire damage to the structure caused by a tenant, for example:
Renter’s Insurance
Nevada renter’s insurance covers personal property inside your dwelling against dangers such as:
- Fire and smoke damage
- Theft and vandalism
- Water damage
- Other dangers, such as weather damage, explosions, falling objects, and electrical surges
Normally, renter’s insurance does not cover damage to the building itself. Some leases require tenants to purchase renters’ insurance.
Umbrella Insurance
Umbrella insurance covers additional liability beyond the limits of other policies, such as auto insurance or homeowner’s insurance. Umbrella coverage only kicks in after you reach the limits of these other insurance policies.
Primary Factors That Determine the Amount of Your Property Damage Claim
Determining the value of your property damage claim can be deceptively difficult. It depends to a great extent on the type of insurance policy that applies.
Below is a list of just a few of the relevant factors:
- An actual cash value (ACV): The policy pays out the depreciated value of the damaged property at the time of the damage. Your payout will equal the replacement cost minus any depreciation (due to aging, wear and tear, etc.).
- A replacement cost value (RCV): The policy pays the cost of replacing your damaged property with a new item of similar type and quality. This type of policy will probably pay you more than an actual cash value policy for the same loss.
- Policy limits: Insurance policy limits place a ceiling on the amount you can recover from an insurance policy, no matter how great your losses are.
- Your deductible: If your deductible is $200, you must pay the first $200 of your loss. If the deductible is $500, you pay the first $500 of your loss. All other factors being equal, the higher your deductible, the cheaper your policy.
- The damage estimate: The insurance company will probably send an adjuster to estimate the cost of repairs or replacement. Your estimate will depend on factors such as the extent of the damage, the age and condition of your property, and the cost of repair materials and labor.
In some cases, you can obtain your own estimate to compare with the insurance company’s estimate.
Talk to a Las Vegas Personal Injury Lawyer for Help With a Property Damage Claim
A Las Vegas personal injury lawyer at De Castroverde Accident & Injury Lawyers can help you determine the value of your property and the monetary value of any damage. They can gather evidence, work with an expert (if necessary), and help you file a claim against an insurance company. They can even help you file a lawsuit if necessary. Call (702) 222-9999 for legal help today.