Legal Question in Insurance Law in West Virginia
Depreciation Value
If my truck was damaged by another party in an auto accident, can I ask for 20% depreciation value in my insurance claim due to my truck being recorded as damaged for the rest of it's life?
Asked on 12/29/06, 10:58 am
1 Answer from Attorneys
Thomas Zimmerman
Zimmerman Law Office
Re: Depreciation Value
Yes. The insurance companies will resist, however, the measure of your damages is the difference in the value of the truck immediately before the accident compared with the value immediately after the accident. Usually the damages are the cost of repair. You will need an expert witness to determine what the depreciation or resale loss will is.
Answered on 1/04/07, 8:01 am
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
