Q: Do I have to pay for depreciation on auto parts damaged in an accident that was not my fault?
I was involved in an accident where a person ran a red light and hit my vehicle. I have evidence (police report) where the person who ran the red light was found at fault for the accident. This person's car insurance wants to charge me depreciation costs (close to $1,300) for the parts that were damaged in the accident. Can I do anything so I will not have to pay this?
Thanks in advance.
A: Contact an attorney because this sounds really strange. First, CO has a system in which an individual partially self-insures themselves, so it seems a little odd that the insurance company is contacting you (unless the damages are significant). Second, if you have clear evidence that you we not at fault, you should not be liable (there is a potential that you were a minor contributor of the accident--which may change things a bit). Finally, depreciation reduces the cost (purchase price) of an item and it is not normally changed--how can you be liable for someone else's wear and tear on a vehicle? An accident is not wear and tear, but the insurance company may be able to seek compensation for damage in some situations. In sum, something is amiss here. Contact an attorney to review the specifics of your situation.
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