It is not necessary that you own the vehicle involved in car accident to get compensation for all the injuries and damages suffered.
Even if you were driving a leased vehicle, you can seek compensation for the damages under some circumstances. In this post, we will discuss what is involved in getting compensated for an auto accident involving a leased vehicle.
You can file a claim for damages to the vehicle if you think the other driver was responsible for the accident. The procedure in claiming damages on leased vehicles is the same as the procedure in claiming for damages of a vehicle that you own, provided that the vehicle is not a part of a lease or loan agreement. Aside from getting in touch with the appropriate people and companies, it will be essential for you to get in touch with the insurance company of the other driver along with the company that owns the car involved in the accident. It will be necessary to provide information about the accident when you contact the company. The information will include the location, time, and date of the accident. The company may also ask for identifying information about the driver involved in the accident.
During this part of the claim discussion, the insurance company of the other driver may opt to acknowledge or challenge your claim. You will be asked to obtain an estimate for repairing the vehicle if the claim is acknowledged by the insurance company. You will eventually receive authorization by the insurance company to have the vehicle fixed. On the other hand, if the claim is challenged, you will have a number of alternatives to be able to process the claim.
If Your Claim is Challenged
One alternative is to file a lawsuit against the driver involved in the accident to claim for damages on the vehicle.
A second alternative is to use the collision coverage provision on your insurance policy to have the vehicle fixed. Although the policies of different leasing companies will determine the requirements, nearly all lease contracts come with liability and collision insurance coverage. The leasing company is still the owner of the vehicle even if you leased it from the company. The leasing company aims to secure its assets, which means its lease contract will include collision insurance coverage. The collision insurance coverage is specifically designed to deal with these situations to make sure that the leased vehicle is repaired after it becomes involved in an accident.
Missouri Auto Accident Attorney
If you have been involved in a car accident involving a leased vehicle, it is a good idea to speak with an experienced Missouri Auto Accident Attorney before proceeding. Our law office has over 15 years of experience handling injury claims arising from auto accidents in Missouri. To speak with an attorney call (314) 361-4242.
photo credit: ** RCB ** via Flickr