C
culli
Guest
I have comprehensive insurance. If I am allowed claim for depreciation how is it calculated?
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Can I claim for car value depreciation as well as repair costs following car accident? ?
M
Millsy
Guest
Good question - I had a repair job done on insurance - they only replaced the damaged headlight and it looked totally different to the old one on the other side - made it obvious it was a repaired car and devalued the car. I'm thinking that you can't make a claim for it though, but would be great to hear if you can.
C
calipink22
Guest
You can't make a claim for depreciated value. You can make a claim for repair costs. No insurance has a depreciated value endorsement for auto accidents. Dealers will tell you there is such a thing, but in reality there is not
V
Vipassana
Guest
Why would you?
The car is in an accident. It is a GIVEN that the value of the car has gone down.
It'd be like getting a broken bone, and claiming the broken bone, then asking if you can claim injury on top.
Your insurance claim is to reimburse you for the damages to your car. Since they pay to repair the damages, it brings your vehicle back to it's original value. Or close to it. So, there's no depreciation.
Unless the car was totaled, but then it's a salvage vehicle, and that's a different story altogether.
The car is in an accident. It is a GIVEN that the value of the car has gone down.
It'd be like getting a broken bone, and claiming the broken bone, then asking if you can claim injury on top.
Your insurance claim is to reimburse you for the damages to your car. Since they pay to repair the damages, it brings your vehicle back to it's original value. Or close to it. So, there's no depreciation.
Unless the car was totaled, but then it's a salvage vehicle, and that's a different story altogether.
V
Vipassana
Guest
Why would you?
The car is in an accident. It is a GIVEN that the value of the car has gone down.
It'd be like getting a broken bone, and claiming the broken bone, then asking if you can claim injury on top.
Your insurance claim is to reimburse you for the damages to your car. Since they pay to repair the damages, it brings your vehicle back to it's original value. Or close to it. So, there's no depreciation.
Unless the car was totaled, but then it's a salvage vehicle, and that's a different story altogether.
The car is in an accident. It is a GIVEN that the value of the car has gone down.
It'd be like getting a broken bone, and claiming the broken bone, then asking if you can claim injury on top.
Your insurance claim is to reimburse you for the damages to your car. Since they pay to repair the damages, it brings your vehicle back to it's original value. Or close to it. So, there's no depreciation.
Unless the car was totaled, but then it's a salvage vehicle, and that's a different story altogether.