If you have a car accident in New York, you will face medical expenses for injuries and several other financial damages. But the biggest question is, who pays for damage to your car after an accident? Many will suggest claiming your medical insurance, but still it may not cover the total bills.
The amount of coverage depends on the type and severity of the damage. Though in many cases, car owners appoint vehicle accident lawyers to claim the full coverage. However, New York has a no-fault system for personal accident injuries where the person’s insurance covers the medical bills. Whereas property damage is something different and in this guide, we’ll give you detailed insights.
What is the insurance coverage limit for damage in a car accident?
New York vehicle owners must have at least $10,000 as insurance coverage for property damage in car accidents. According to the New York state law, all the drivers need to maintain a minimum amount of coverage to compensate for the damage.
Such as for physical injuries, drivers need to pay a minimum of $25,000 for a single person and $50,000 for more people, along with mandatory $50,000 as no-fault coverage.
If the damage exceeds the insurance coverage limit by the driver at fault, you might need a different reimbursement source. It sometimes includes filing a legal charge against the driver or vehicle owner to claim full coverage for the personal or property damage.
Types of insurance coverages by the driver at fault
After the car crash, drivers are held responsible for paying the insurance coverage for both personal and property destructions. Though in property damages, the owner of the property can collect the coverage amount direct from the driver at fault. The liability is automatically passed to the driver’s insurance company if he carries the mandatory insurance amount.
The insurance company mostly offers three types of coverages in their policy.
Collision Coverage:
It offers protection and covers the damage costs by the at-fault driver. If a car driver collides with another car and damages it or other property, his insurance will cover that expense on his behalf.
However, if the accident is not your fault and the driver at-fault has not sufficient amount to cover the repair, use your collision coverage insurance to cover the damage. Then when your insurance company will get repaid by the defendant’s insurance company, you’ll get your money back.
Liability Coverage:
If the driver’s insurance company accepts his fault in the accident, they’ll pay a minimum amount as the car repairment cost. But it may take several days or weeks to evaluate the damage and accept the fault.
Comprehensive Coverage:
It offers coverage when something other than accident damages the vehicle. For example, if the car is stolen, damaged by a fallen lamp post or crowd, or if you hit an animal, your comprehensive coverage can cover the damage cost.
Meanwhile, if your car’s injury severity is more than 75% and is not worth repairing, you can sell the totaled car easily. It’s because repairing a completely wrecked car in an accident is very expensive than you expect.
But if you’re wondering who will buy such a damaged car or how much you’ll get from selling, don’t worry. You can check the We Buy Totaled Cars site to sell your crashed car. You simply describe the car condition, send pictures, get a fair offer and once you accept it, they will tow the car for free within 24-48 hours.
Does GAP insurance cover for car accidental damage?
Yes, in some cases, GAP insurance covers car accidental damage. But remember, it’ll only pay for covering damages to the car, not for bodily injuries or property damage resulting from the accident.
Many car owners carry GAP (Guaranteed Asset Protection) insurance as compensation, especially if the owner has financed that car. But that book value of it gets reduced soon. Moreover, the insurance company may declare the car is a total loss. In case the book value is lower than the car loan, the owner needs to pay them upfront cost.
What should you do after a car accident?
If you are at no-fault and want to claim the full damage coverage resulting from a car accident, follow the below things:
- Report the accident to the local law immediately and assess the car condition.
- Do not move any evidence that may help you later while claiming the amount in the insurance company.
- Note down the timing and damage severity so that you don’t miss any details.
- Write down the driver’s license plate number and registration information.
- Get the driver’s insurance company details.
- Lastly, get medical attention. If you wait to get to a doctor, your insurance company will delay covering your medical expenses.
Another key point is, the insurance company may not agree with your claim and doesn’t cover the repair cost. In such cases, the repair shop can contact the insurance company and give them a detailed report of the car damage. Otherwise, you may need a lawyer and file a lawsuit against the company to pay for the damage.