What if you broke another person’s property?

Property damage

The car crash makes cars and bicycles damaged. But not only those properties, cars sometimes crash into other people’s property like walls or houses. How can we compensate for the damaged property like that?

A responsible party has legal responsibility to compensate only for the repairing fee but not for its renewal cost. That’s a basic idea. However, only in the case where a damaged property needs to be rebuilt, renewal cost can be subject for compensation. In this case, since the original life of the property is extended by reconstruction, the property’s owner will get unreasonable profit if it’s fully rebuilt. So, to keep balance, the difference between the depreciated value and the renewed value is deducted from the total amount of compensation. However, in the first place, if the accident didn’t happen, such expenses didn’t occur. Since it is not fair for both parties, that sometimes results in disputes in a settlement phase.

Also, old stones and trees usually change color due to aging. However, if only one part is damaged in a traffic accident, only the damaged part needs to be repaired. If it is partly repaired, only that part will be cleaned, which may cause inconvenience for its owner. In the case of such property damage, both the perpetrator and the victim need to make concessions and settle out of court in a mutually acceptable manner.