What is Property Damage?
Property damage is damage caused to a person's property resulting in the need for compensation to repair or replace the damaged property. When dealing with car accidents, property damage refers mainly to the vehicle or vehicles involved in the auto collision. It could also refer to personal items that were inside the vehicle and damaged as a result of the car accident.
Damages could also be used in seeking compensation in a lawsuit from an at fault person.
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Total Loss |
Repairable Vehicle |
Diminished Value |
Loss of Use |
Take Price |
Resale Value | Loss Economic Opportunity | Dealer Ready | At the Scene of the Accident
Shortly After the Accident | How to Settle | Recorded Statement
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