Personal Property Damage in Car Accident

[cuukiemunstur]

What is the name of your state? California

If I was in a fender bender and there was no damage to their car, only the bike that was on their rack. What is my liability to cover the damages? They want a brand new top of the line $1800.00 bike. I said I would pay the depreciated value of the bike they had, or something comparable. I don't think I should have to buy them a brand new one if theirs was several years old. I was told depreciated value was all that was necessary. They refuse to negotiate. Auto insurance does not cover their personal property. I have to pay.

 

[CALIF-LAWPRO45]

What is the name of your state? California

If I was in a fender bender and there was no damage to their car, only the bike that was on their rack. What is my liability to cover the damages? They want a brand new top of the line $1800.00 bike. I said I would pay the depreciated value of the bike they had, or something comparable. I don't think I should have to buy them a brand new one if theirs was several years old. I was told depreciated value was all that was necessary. They refuse to negotiate. Auto insurance does not cover their personal property. I have to pay.

My response:

You are correct. Your liability extends only to the "reasonable, fair market value" of their bike at the time it was damaged. So, if their $1,800.00 bicycle was only worth $500.00, then that's the measure of their damages. They are NOT entitled to "replacement" value.

Let them sue you, and a judge will tell them what I have told you here. But, why isn't your insurance covering this loss?

IAAL

 

[moburkes]

My response:

You are correct. Your liability extends only to the "reasonable, fair market value" of their bike at the time it was damaged. So, if their $1,800.00 bicycle was only worth $500.00, then that's the measure of their damages. They are NOT entitled to "replacement" value.

Let them sue you, and a judge will tell them what I have told you here. But, why isn't your insurance covering this loss?

IAAL

OP: Yes, your insurance should cover this. You might have this confused. If YOUR bicycle was damaged, then YOUR auto insurance would not cover it. Just like the title of your post says, the bicycle is considered personal property, which is covered by homeowners (or renters) insurance. But since you damaged their property, your property damage coverage (under liability) will cover this.