Special Damages – Property Damage Expenses

The definition for Property Damage Expenses is generally understood to mean the monetary losses someone incurs from an accident involving their property, such as the cost to repair any damaged assets (automobile, home, computer, phone, clothing, etc.).

In this article of our series, we’ll discuss the key information associated with measuring the current and future property damage expenses incurred for a claim.  There are several property valuation methods to consider when insurers issue a policy or pay a claim.  For property damage liability purposes, an insurance adjuster will generally accept a replacement cost claim, which is the amount of money it takes to replace damaged or destroyed property from the occurrence.  Without supporting evidence including the damaged property and quotations for replacement, they may settle the claim utilizing an actual cash value if there is adequate proof that the property was lost in the occurrence.  An Actual Cash Valuation (ACV) is the replacement cost of the property, less any accumulated depreciation for age, wear and tear.

To prove your claim after an accident, take pictures of all of your personal property that has been damaged.  If possible, it is also advisable to store the property for safekeeping to show an adjuster when filing a claim.  Then create a list of the property, along with quotations or online research for its replacement value.  You will only be able to claim the value of the actual lost property, not upgrades to newer models unless the older models are more expensive.  For antiques or unique property, appraisals may be required to prove the valuation.

Once you have completed the inventory list, total everything under the heading Special Damages – Current and Future Property Damage Expenses.  Then add the total amount to a planner like our What Is Your Claim Worth Solutions to be included with your other damages.

If you are having difficulty or need assistance with this type of analysis and planning, please contact us, your adjuster, or attorney for additional help.

By Robert J. Blackburn, Managing Principal, Blackburn Group, Inc., contact him at This email address is being protected from spambots. You need JavaScript enabled to view it..