A vehicle repaired after a traffic accident does not return to its previous value. This difference is called compensation for loss of value.
Claim Conditions
- The vehicle is not totaled (repair is economical)
- Leading to traffic is under 165,000 km or within the age limit
- No serious damage in the same area before
- Repair must have been made
Calculation
- Independent expert report
- Damage severity, type of repair (paint/replacement/welding)
- Model/age/km of the vehicle
- Market comparison
Claim Ways
- Application to the other party's compulsory traffic insurer (KTK art.97)
- If insufficient Insurance Arbitration Commission
- Commercial court of first instance
Supreme Court 17. HD
17. HD accepts that loss of value is "objective decrease in the market value of the vehicle" and should be determined not only by the repair invoice but by an independent expert report.
Duration
Application to the insurer: 2 years; court: 2 years/10 years (KTK article 109).