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I recently got into an accident where my new car was demolished, and it was the fault of the other driver. I've only owned the car for 3 months. Will I be compensated for the full amount I paid for it?
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In the event of an accident where your new car is demolished due to someone else's fault, you may be entitled to compensation. The at-fault driver's auto insurance should pay for any property damage, including the cost of repairing or replacing your vehicle. However, the amount you receive may depend on various factors, such as the actual cash value of your vehicle at the time it was damaged and the terms of your insurance policy. If the situation is clear-cut and the at-fault driver's insurance accepts liability, you may receive compensation for the full amount you paid for the car. It's important to report the accident to your insurance company and the at-fault driver's insurance company as soon as possible. The insurance adjuster will investigate the accident to determine fault, and your insurance company will facilitate the claims process. If the accident was not your fault, you may be entitled to compensation regardless of fault through Statutory Accident Benefits Coverages provided by law under every auto insurance policy. It's crucial to communicate with your insurance company and follow the necessary steps to ensure you receive the compensation you deserve for the damage to your new car.
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