After suffering a traffic accident, material damage may have been caused in the collision between several vehicles. In this article we are going to study how to claim for material damage in a traffic accident, and everything related to this damage, which does not involve physical or personal harm, but which can cause considerable economic damage.


Damage caused by a traffic accident considered as material damage


What are considered as material damages derived from a traffic accident? 


Damage sustained by our vehicle and its accessories when it suffers damage as a result of a traffic accident. 


Deadline for claiming material damage in a traffic accident


To claim for material damages in a traffic accident, there is a period of one year of prescription before the responsible company, whose dies a quo is the day after the date of the occurrence of the accident. 


Deadline for reporting to the insurance company


The first thing to do when you have had a traffic accident is to report it to the insurance company, in order to be able to subsequently file a claim for material damages, if applicable. 


According to the Insurance Contract Law, the insured has seven days to notify the insurance company of the occurrence of the accident.


Assessment of material damage in a traffic accident


It is a simple and quick procedure. Normally, once the insurance company has been notified of the claim, the company's expert will contact the insurer to set a date, time and workshop where the expert appraisal will be carried out, and finally the vehicle will be repaired. 


The insured person has the right to choose the garage where the vehicle will be repaired.


It is advisable that while the expert report the damage, you are present to ensure that the expert includes in his report each and every one of the damages caused by the accident, and does not leave any of them out of the report, as once it is closed, it is practically impossible to get the company to reopen it. 


What is the owner of the vehicle involved in the accident entitled to?



When a vehicle has been damaged in a traffic accident, and you wish to claim for material damages, there are two possible situations: 


The vehicle is damaged and the cost of repair does not exceed the market value of the vehicle


We are entitled to have the vehicle repaired and restored to the condition it was in before the accident.


The vehicle is damaged and the cost of repair exceeds the market value of the vehicle


In other words, the vehicle is declared a loss. In this case, we are entitled to be paid the market value of the vehicle, which is the sale value of the vehicle on the used car market. 


In addition, however, it is also possible to claim the so-called affection value, which compensates the attachment to the lost vehicle, if any, and which can be up to 50% more than the market value. 


Who pays for material damage in a traffic accident?


There is an agreement between companies for the repair of material damage resulting from traffic accidents, commonly known as CICOS (Centro Informático de Compensación de Siniestros).


By application of the CICOS Agreement, in practice, the company of the innocent vehicle will be in charge of everything related to the material damage to the vehicle, assuming also the payment of these, always after acceptance of responsibility by the company of the vehicle causing the accident, which will pay a compensation module pre-established for this purpose through the Agreement.