Compensation for Car Depreciation Following an Accident

Compensation for Car Depreciation Following an Accident is a post from: http://www.personalinjurylawyercalgaryinc.ca/

If you have been in a car accident where you car has been damaged you are allowed to have your car fixed. This is the obligation and responsibility of the other drive that hit you. They need to pay for the repairs in order to get your car in the same condition it was before the accident. If you have an expensive car you may be able to file a claim with accelerated depreciation. The car has lost value due to the damage it received in the accident and is worth much less money.

A study conducted by the British Columbia has a guide for filing an accelerated depreciation claim due to a car accident.

What accelerated depreciation means is that the car is now worth less money then before the accident even when it is fully repaired. While these types of cases were approved in British Columbia the ruling and argument may vary in Alberta.