Not everyone who gets involved in a car accident in Nevada owns the vehicle they are in. Leased vehicles that are only partially paid off are common. If you get into a Las Vegas car accident while driving a leased vehicle, your car insurance claim may require special steps to compensate the dealership or leasing company for their losses.
Address Injuries
The priority after a car accident should always be your physical safety and health. Check yourself for injuries, keeping in mind that your adrenaline may hide pain for the first few hours after the crash. If you or anyone else has been hurt, call 911 to report the accident. Significant property damage also deserves a police report.
Report the Accident
If the police don’t come to the scene and file a report, you must report the car accident to the Nevada Department of Motor Vehicles within at least 10 days. To initiate your Las Vegas car accident claim, notify your car insurance company about the crash as soon as possible.
If the other driver is at fault, file a claim with his or her car insurance company. You are also responsible for reporting the accident to the leasing company. When a leased car is involved in a motor vehicle collision, the leasing contract will outline what happens next.
Have the Vehicle Assessed
The car dealership or leasing company will direct you on where to take your vehicle for a professional damage assessment. The mechanic or inspector will let the leasing company know if the vehicle can be repaired (along with estimated repair costs) or if it is a “total loss,” meaning the costs of repairs exceed the value of the vehicle.
File Your Insurance Claim
Before you can qualify for a motor vehicle lease, you typically must purchase special types of insurance coverage beyond what is legally required of Nevada drivers. This may include collision and comprehensive insurance to repair damage to the leased vehicle in the event of an incident.
Collision insurance will pay to repair the vehicle, whether or not you were at fault. Comprehensive coverage covers damage caused by incidents other than car accidents, such as theft or vandalism. The minimum required amounts of bodily injury and property damage liability insurance in Nevada will pay for losses suffered by others.
Search for Gap Coverage
Gap coverage is a type of additional or supplemental insurance that can be highly beneficial in an accident involving a leased vehicle. It offers coverage to pay the difference between the actual cash value of the leased car and what you still owe on the lease. There is typically a disparity between these two values, as the car immediately loses value when driven off the lot.
If you get into a car accident in a leased vehicle, you will still owe leasing payments on the remaining balance even after insurance pays. If you don’t have gap coverage, you will be expected to pay this balance to the leasing company out of pocket.
Contact a Las Vegas Car Accident Lawyer
The leasing company, your insurance carrier, and the insurance provider of the other driver will not be on your side during a car accident claim involving a leased vehicle. A personal injury attorney in Las Vegas, however, will serve you and only you.
You can count on a dedicated Las Vegas car accident lawyer to guide you through the insurance claims process, including dealing with a leasing company and gap insurance coverage on your behalf. Your attorney can make a big difference in the outcome of your Las Vegas car accident claim while also giving you the mental peace to focus on healing.