08 Jun Tips for a Successful Third-Party Property Claim
A third-party property damage claim is a claim that someone other than the policyholder makes. For example, if there is a car accident involving an insured, the driver who is not the insured is a third party who might make a claim for the property damage to their vehicle.
A third-party claim is required in most states for auto accidents and other types of property damage. When you are involved in a car accident that causes damage, you become the third party who must assert this type of claim against another driver.
Without asserting this type of claim, many individuals and companies cannot receive compensation for the property damage caused by the accident (called “damages”). However, property damage claims are not automatic—the third parties must meet certain requirements to have a successful claim. To increase the likelihood of a successful claim, third parties can use the following tips and recommendations.
Factors That Can Impact Your Third-Party Property Claim
The amount of money that you can receive for a third-party property damage claim will depend on several factors. Some of these factors affect whether a third-party insurance claim will be successful at all as well.
Extent of Property or Damage
Third party insurance claims are designed to compensate third parties for their losses after an accident. The claim should address the cost associated with repairing or otherwise addressing the damage. One of the benefits of third-party property damage claim is that it pays for the property damage caused by an accident.
That means that if the property damage is serious, then it is more likely to require a larger amount of money to address the damage. The more severe the damage, the more costly it will likely be to repair it.
Evidence to Support Your Claim
Third parties (the injured party) must prove their property damage claims. This requires showing the extent of the damage and the cause of the damage. If the third party can show that the insured party caused the damage and the extent of the damage with good evidence, it is more likely they will receive compensation.
Credibility of the Parties Involved
When someone presents a third-party claim, the insurance company, judge, or jury must present credible evidence or testimony about the accident and damages. Essentially, someone will make a credibility determination as part of the decision to award damages.
Insurance Company’s Policies and Procedures
Most insurance companies have specific policies and procedures that must be met to obtain insurance coverage. This might require making a claim within a certain amount of time or reporting the claim to a specific person or in a specific way. In some cases, failing to follow these specific procedures can threaten a third party’s ability to receive damages for their property damage claim.
Tips for a Successful Third-Party Property Claim
Third party property claims require that you meet specific requirements. You can use the tips below to help ensure that the claim is successful.
- Report the incident promptly. Reporting the accident right away can help increase the likelihood that the claim is accepted by the insurance company. The insurance company can immediately do its required investigation and evaluate the appropriate dollar value for the damage.
- Gather evidence to support your claim. Evidence is required for any third-party insurance claim. You can take photos and videos of the scene of the accident to help show how the accident happened and the damage involved. Witness statements can be helpful to show what they saw or heard. Finally, those involved in the accident should make a police report and obtain a copy of the report as well.
- Be honest and accurate when describing the incident. A thorough, honest report of the accident will help increase credibility with the insurance company, a judge, or a jury. Honesty in reporting and describing the claim is extremely important.
- Follow up regularly with the insurance company. When you report a claim, the insurance company will need to do an investigation to determine the cause of the accident and the extent of the damage. This will take some time. Regular communication with the insurance company will help ensure that the investigation keeps moving forward quickly.
- Consider hiring an experienced attorney. Having an attorney help with your claim can be very beneficial. They will work with the insurance company to negotiate an appropriate amount of compensation. If necessary, an attorney can present your claim to a judge or jury as well.
Common Mistakes to Avoid When Filing a Third-Party Property Claim
Unfortunately, making a few mistakes can threaten a third-party property claim. Being aware of these common mistakes can help you avoid them if you are making an insurance claim.
Failing to promptly report the incident
Many insurance companies require that accidents be reported in a specific amount of time. If drivers do not act quickly, they sometimes run the risk of accidentally waiving their claims. If an accident occurs, reporting the claim quickly can help resolve it quickly as well.
Providing inaccurate or incomplete information
Being truthful with adjusters, police officers, and others investigating a claim is critical. In addition, providing information that is thorough and complete can help move a claim along faster. If you have been involved in an accident, be sure to report it as accurately and thoroughly as possible to avoid problems with denied claims.
Accepting a settlement without fully understanding your rights and options
In some cases, an insurance company will reach out to you with an offer of settlement shortly after your accident. While an insurance company is simply trying to address the claim, the first offer is usually not enough to fully address all of the damage associated with the accident.
As a rule, you should not accept a settlement without fully understanding what you are signing or what rights you are giving up. Talking to an attorney about the settlement can help ensure you get all of the compensation you deserve after an accident.
Benefits of Working with Fleet Response Claims Management
Fleet Response provides Claims Management Services. We create solutions that address risk, safety, and HR issues, including situations that involve third-party property claims. We provide claims management services that work with other insurance companies and drivers to help address the following:
- Accident Reporting and Vehicle Repair
- Property Damage and General Liability Claims
- Salvage Vehicle Claims
- Glass Repair and Replacement
- Fleet Response Visibility
Working through third-party claims can be very time-consuming. It requires a lot of paperwork and red tape in many situations. Fleet Response can help with companies and drivers who have to work through this process. We do the leg work so you can get back to work.
A third-party property damage claim can be confusing and challenging to address. However, if you take the right steps at the right time, the entire process can be much more streamlined. Thorough investigations and cooperation can speed up most third-party insurance claims.
Working with Fleet Response for third party property damage claims allows companies and drivers to focus on getting back to work as soon as possible. Contact our team to learn more about our services.