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Car Accident Property Damage Lawyer New Mexico

When you’re involved in a car accident, your first thought may be to seek medical care for your injuries. That’s smart because you can use the documentation from your treatment in a personal injury claim against the at-fault party. 

What you may not be thinking about is the damage to your property. Most people don’t give it a second thought until they realize the car – or another vehicle – they depend on for transportation is undrivable. 

Once you have dealt with the initial accident, you may wonder if you can recoup the losses for your personal vehicle. The answer is a resounding yes. Most property damage lawyers in New Mexico don’t offer this service, but Cameron & Russell Law goes the extra mile to help you recover fair compensation for your injuries and your property.

What is property damage liability?

Property damage liability is required coverage. When you’re responsible for a vehicle accident, it pays for any damages to the other person’s property. Property damage liability insurance protects more than automobiles. It also applies to any property you damage with your car, including homes, fences, and light posts. 

Like most states, New Mexico has minimum auto liability insurance amounts:

  • $25,000 for bodily injury to or death of one person. 
  • $50,000 for bodily injury to or death of two or more persons. 
  • $10,000 for property damage in any one accident. 

What is a car accident property damage claim?

You can file a car accident property damage claim any time you’re the victim of an auto accident. Even if the at-fault driver has property damage liability insurance coverage, it may not be enough to compensate you for the full amount of damage. You have the alternative of filing a car accident property damage claim. 

There are no caps on either compensatory or punitive damages for car accident claims in New Mexico. When an insurance payout doesn’t cover the full costs of damage, you can sue for the balance. 

What is the property damage statute of Limitations in New Mexico?

Car accident property damage claims are subject to a statute of limitations in New Mexico. You have four years from the date of the accident to file your property damage claim. It’s best not to wait if you want to recoup damages to your personal property. The longer you wait, the greater the chance evidence can be misplaced, and medical and police records compromised. 

What role does the insurance company play?

New Mexico is a “fault” car accident state. You can seek compensation for injuries, lost income, and vehicle damage against an at-fault party. Auto insurance companies absorb these costs up to policy limits. Then, the at-fault driver is on their own for covering any additional compensation you seek. 

What can you include in your car accident property damage claim?

There are several factors to consider when preparing a car accident property damage claim. Working with an experienced personal injury lawyer who understands property damage law in New Mexico is your best chance for recovering the maximum damages available under the law. 

Diminished Value 

Any time your vehicle is involved in an accident that involves damages covered by an insurance company, you experience a loss in market value. Known as diminished value, any repairs made to your automobile are recorded as part of its CARFAX history. When you go to resale your auto or trade it in, you’ll get less for it because of the previous damage, even though it was repaired. 

Loss of Use Costs

When you’re busy worrying about whether your injuries might keep you from working, you probably aren’t thinking about how you will get to work now that your car is damaged. When your vehicle is damaged because of someone else’s negligence and undrivable, how do you get around? 

Loss of use costs can be included in any car accident property damage claim if your vehicle is inoperable for any period. The compensation you can receive goes beyond the cost of a rental car. Ask us how. 

Repair Costs 

If your vehicle isn’t a total loss and can be reasonably repaired, you can request the full amount for the repairs. Some insurance companies only pay a percentage of the cost of repairs, which can leave you with the balance. Never pay out of pocket when this happens. Consult an experienced property damage liability lawyer to hold the at-fault party responsible for the difference. 

Total Loss Value

Insurance companies must pay the current market value for your vehicle if it’s a total loss. Unfortunately, that’s not always enough to cover the costs of getting a replacement. A skilled property damage liability lawyer can negotiate with insurance companies for fair compensation. When insurance companies don’t agree to pay more, you can file a car accident property damage claim against the at-fault party.