Car Accident Claims Involving Leased Vehicles
When you are involved in a car accident and drive a leased vehicle, you may be wondering how you are going to go about recovering the compensation you need to cover the cost of not only your vehicle repairs but the other damages you sustained as well.
Fortunately, car accidents involving leased vehicles are only moderately different from traditional types of car accident claims. Here is more about what you need to know if you drive a leased vehicle and are involved in a car accident in North Carolina.
How Insurance Works in North Carolina Car Accident Claims
North Carolina follows a fault-based system under the North Carolina Code § 20-279.21. This means when you are involved in a car accident, you will file a claim with the liable party’s insurance provider instead of filing a claim on your own.
The insurance company will then be required to cover certain types and amounts of damages based on the policyholder’s insurance coverage and limits.
However, do not expect them to agree to settle your insurance claim without putting up a fight. They will likely look for any opportunity to reduce or deny you the compensation and benefits you are entitled to. Your attorney can handle the negotiations process on your behalf to protect your leased vehicle car accident settlement.
In this way, your leased vehicle car accident is no different from any other type of motor vehicle accident insurance claim. However, what might have an impact on your case is how you go about getting your leased vehicle repaired following your car accident.
Getting Your Leased Vehicle Repaired After a Car Accident
Generally, after a car accident, you would obtain the compensation you need to get your vehicle repaired or replaced through the liable party’s insurance company. However, when you lease a vehicle, you are typically required to carry your collision coverage as part of your auto insurance policy.
When you are involved in an accident, if you have collision and liability coverage as part of your lease agreement, you can get your vehicle repaired through your own insurer and help protect the leasing company‘s investment. The collision coverage protects you whether you are responsible for causing the accident or the accident victim.
However, it is worth noting that filing a claim with your own auto insurance company could have an adverse impact on your auto insurance policy premiums.
When your policy renews, you can reasonably expect your auto insurance premiums to increase as well after having filed a claim. For this reason, you should speak with your car accident attorney about how to best approach the repair of your lease after a car accident.
Contact a Car Accident Lawyer in North Carolina
When you drive a leased vehicle, dealing with the insurance company can also be a complicated process. Get help protecting your injury settlement when you retain a dedicated Raleigh car accident lawyer at Nagle & Associates, P.A. to advocate for your right to total compensation.
Fill out our convenient contact form or give our office a call at (800) 411-1583 to get started on your case today.