If you have a leased vehicle, you must know that in the event of an accident, its damage claim settlement procedure is slightly different from usual cases where you technically own the vehicle. Even if you drive safely, there is no harm in knowing all the options you can exercise whenever an accident occurs.
What Is A Leased Vehicle?
In simple words, a lease is like a rental where you pay a fixed amount every month to the lease company for using its car for a pre-decided period. Once the lease term ends, you need to return the vehicle. Some leasing companies may give you an option to purchase the same vehicle at a lower cost at the end of the lease period.
What If Your Leased Vehicle Gets Damaged In An Accident?
You can’t keep everything under control, especially how others drive their vehicles on the road. If someone else is under the influence of alcohol, speeding, or stops their car suddenly, causing damage to your vehicle, you need to follow certain steps without any failure.
Your first move should be to inform the authorities and report the incident so that they can issue traffic citations and write an accident report. The next step should be to inform your leasing company and insurance provider about the accident. Most companies mention clearly in their contracts that any such incident should be brought to their attention within a few days or else you might lose the right to claim medical expenses and damages incurred to the vehicle.
It’s always recommended to seek help from an expert lawyer who can guide you throughout this process, draft a strong claim on your behalf and represent your case effectively in the courtroom. In St. Louis, the Onder Law accident attorneys are known for their professional attitude and 100% win ratio. They don’t charge anything upfront. You pay only if they get you the desired results. So, contact Onder Law firm as soon as possible and make the claim settlement with a leased vehicle incredibly easy and comfortable.