How to Calculate Vehicle Damage When the Other Party is Fully Liable for an Accident?
1 Answers
The party fully at fault is responsible for all losses, thus compensating the vehicle owner for personal injuries, property damages, etc. Typically, insurance companies provide compensation to the vehicle owner through compulsory traffic insurance and commercial insurance. This includes: compensation for direct property losses and indirect property losses. The details are as follows: 1. Compensation for direct property losses: This refers to damages to vehicles, items, and related facilities caused by the traffic accident that cannot be repaired, as well as livestock losing their value due to injury or death. The responsible party for the traffic accident should compensate for these direct property losses. 2. Compensation for indirect property losses: This mainly involves the loss of anticipated benefits due to the traffic accident, not the reduction or destruction of the victim's existing property, but the benefits the party would have inevitably obtained if the accident had not occurred. Additionally, if the vehicle owner is injured, the insurance company and the other party must compensate for medical expenses, lost wages, hospitalization nursing fees, hospitalization meal allowances, and transportation costs. In cases of disability, after a disability assessment, compensation will be determined based on the disability level, including disability compensation, living expenses for dependents, and mental distress compensation.
