What’s Property Damage and Can I Get Compensation in Texas?

What’s Property Damage and Can I Get Compensation?

If you are involved in a car accident, then you have likely suffered property damage. You may be eligible to receive money to compensate you for the costs of the damage. It is important to know the extent of the damage to be successful in a property damage claim. A personal injury attorney can help you pursue your property damage claim. 

Property damage can occur from accidents or from acts of nature such as tornadoes. It can also occur from the intentional acts of others. If your house was damaged, then you will likely seek money through your homeowner’s insurance. If your car was damaged in an accident, then you will likely seek money from your insurance company or from the at-fault driver’s insurance. 

How You Can Qualify for Compensation for Property Damage

Compensation for Property Damage in Texas

The amount of money you are eligible for after your property suffers damage depends on how significant the damage was. If the property can be repaired, you will likely be eligible to receive compensation to repair it. If your property is damaged beyond repair, you will be eligible to receive the property’s fair market value to compensate for the loss. 

If your real or personal property was damaged, you might qualify for monetary compensation. It is important to understand the role your insurance coverage plays in a property damage claim. Unless the damage to your property was due to the actions of another, then your claim’s value will only be as high as your insurance coverage limits.  

Important Information You Will Need for Property Damage Claims

To make a property damage claim, you will first need to show proof that you are the owner of the property that was damaged. For example, if your home is damaged, then you might need a copy of your property deed to prove ownership. If the property that was damaged was your vehicle, then your car insurance policy can show ownership over the car.

If you are involved in an accident, then having the at-fault party’s insurance company information is extremely important. You will need to show how your property was damaged and how much the damage costs. You will sometimes need to determine if  your property is too damaged to be saved. If so, then you will need to determine the appropriate replacement cost. 

What is the Statute of Limitations in Texas for Property Damage Claims? 

A statute of limitations is the time limit you have to file a claim. In Texas, you have up to two years from the date of the property damage to file a lawsuit. If you miss the deadline, then you are forever barred from filing a suit. 

There are specific reasons why the two-year timeframe can be extended, and some reasons include: 

  • The defendant being out of the state for any period of time, and 
  • If the property owner is currently under a legal disability, such as being underage, then the statute will extend until the owner is of legal age. 

There are other ways to extend the time limit to file a property damage claim, but you should not wait until the last minute. If you have suffered property damage, then it is important to act quickly. 

Get Your Property Damage Questions Answered in a Free Consultation Today 

If your property was damaged, you are probably wondering how you are going to pay to fix it. Under Texas law, you might not have to pay for the damage yourself. At Stephens Law Firm, we offer a free consultation, so call us at (817) 420-7000, or contact our office in Fort Worth online to discuss your property damage claim.