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Re: 1999 Viggen Totally Destroyed in accident yes but - Posted by TPLS SWD [Email]  (#2637) [Profile/Gallery]
(more from TPLS SWD) on Thu, 14 May 2020 18:38:29
In Reply to: Re: 1999 Viggen Totally Destroyed in accident yes but -, neil dale   [Profile/Gallery]
, Thu, 14 May 2020 17:26:27
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Yes, loss of future value can sometimes be included in these calcs. What I've found is that this is very difficult to calculate with a Viggen as there isn't a solid appreciation line to follow yet, at least that is statistically significant. The idea of this is to account for future appreciation. If you had a '67 Corvette big block, those have enough examples and a long enough history to show something. Sadly, any sort of analysis you would run on a Viggen may actually show depreciation right now, based on how I've seen the markets fluctuate recently. Time will tell how this sorts out. Short version, it is too foggy of a calc and largely subjective in nature in this case. I don't believe there is a case for this here, from a collect-ability standpoint.
As far as loss of future value from a drive-ability standpoint, insurance can offer rental coverage for a period until you get your settlement (usually about 30 days max) Then, their payout to buy you a new car would count as giving you back "future use". As a note, my insurance company tried to say I "refused to settle" and cut my rental coverage after 14 days. Later in court, the judge awarded the remainder of the 30 days my policy covered due to their unwillingness to settle at a "fair amount".
Another calc that can sometimes help is diminished value. Not in this particular case, as the vehicle is being totaled, but for the help of others who may read this in the future ... If the insurance company offers to pay to repair the vehicle, they often also need to pay to adjust for "diminished value" This means, two equal vehicles, one with an accident, and another without one, are not worth the same value. Vehicles with reported accidents are often worth less to a future buyer. The compensate for this loss, insurance should often offer to pay for the difference. For example:
If a no accident car is worth $10,000 and the exact same car, with 1 reported accident is worth $9000. Then, insurance would need to pay the cost of the repairs (less any deductables) as well as $1000 to account for the diminished value of the vehicle due to the accident.
1, Thu, 14 May 2020 17:28:41, Mon, 27 Apr 2020 17:25:42, Tue, 28 Apr 2020 08:44:54, Thu, 14 May 2020 17:26:27, Thu, 14 May 2020 18:38:29 <-- Viewing This Message, Thu, 14 May 2020 20:11:101, Fri, 15 May 2020 06:53:04, Sat, 16 May 2020 03:44:33, Sun, 17 May 2020 19:03:14, Sun, 17 May 2020 19:47:011, Fri, 22 May 2020 11:49:20, Fri, 12 Jun 2020 17:35:56, Thu, 14 May 2020 17:20:26, Tue, 28 Apr 2020 10:17:02
, Mon, 7 Jun 2021 00:17:501
, Fri, 24 Apr 2020 14:48:24, Mon, 27 Apr 2020 06:33:511, Mon, 27 Apr 2020 06:37:47, Thu, 14 May 2020 17:34:14, Mon, 27 Apr 2020 12:04:33
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