Loss of Value Lawyer

A loss of value case lawyer provides support in the legal process to compensate for the decrease in the second-hand market value of the vehicle after a traffic accident. Even if the vehicle is repaired, its market value may decrease due to accident history.

Due to the high traffic density and high vehicle usage in Istanbul, depreciation claims frequently come to the fore. In this process, the fault rate, damage record, expert report, insurance application and litigation/arbitration should be evaluated together.

What is Vehicle Value Loss?

Vehicle value loss is the decrease in the second-hand market value of a vehicle that was involved in a traffic accident and was repaired. Even if the vehicle is repaired perfectly, its resale value may decrease due to an accident record.

This damage can be claimed from the compulsory traffic insurance of the party at fault in the accident or from the directly responsible parties, if the conditions are met. When calculating the loss of value, the vehicle's age, mileage, damage history and fault rate in the accident are important.

What is a Loss of Value Case?

A loss of value lawsuit is a lawsuit filed by a person whose vehicle has lost value due to a traffic accident to compensate for this damage. In practice, in most cases, an application is made to the insurance company first.

If the insurance company does not meet the demand, underpays or does not respond in time, a lawsuit or Insurance Arbitration Commission process may come to the fore. Which way is more suitable should be determined according to the characteristics of the file.

What Does a Loss of Value Lawyer Do?

The lawyer in the loss of value case examines the accident report, fault rate, damage file, expert report and insurance policy. Then, it determines which person or institution will claim the loss of value.

It also provides legal support at stages such as application to the insurance company, arbitration application, lawsuit petition, objection to the expert report and enforcement process. Missing documentation or incorrect calculations may affect the amount of compensation that can be received.

In what cases is vehicle value loss requested?

Loss of vehicle value can be claimed by the owner of a vehicle who is not at fault or who is less at fault, if the value of his vehicle decreases due to an accident. After an accident, the vehicle must be repaired and its second-hand value will decrease.

As a rule, the party who is completely at fault cannot claim the loss of value of his own vehicle from the other party. However, if the defect rate is shared, the loss of value claim is evaluated according to the defect rate.

Conditions for Claiming Loss of Value

In order to claim loss of value, some basic conditions must be evaluated together. Not every accident automatically results in compensation for loss of value.

From Whom Can Loss of Value Be Claimed?

Loss of vehicle value can first be claimed from the compulsory traffic insurance of the vehicle that caused the accident. The insurance company's liability is limited to the policy limit.

If the damage exceeds the policy limit or there is a situation that is not covered by insurance, the vehicle driver, vehicle operator or vehicle owner may also be considered liable. Therefore, it is important to correctly determine the responsible persons.

Is it mandatory to apply to the insurance company?

Before filing a lawsuit or arbitration for compensation for loss of value, an application must be made to the insurance company. Documents such as accident report, license, damage documents, expert report and bank information must be submitted in the application.

If the insurance company does not respond to the application in time or if the payment made does not cover the damage, legal proceedings may be initiated. Making the application completely will help the process go faster.

How to Calculate Depreciation?

When calculating the loss of value, the brand, model, age, mileage, damage history, repaired parts and market value of the vehicle are taken into account. In addition, the degree of fault in the accident directly affects the amount of compensation.

The calculation is often made with an expert report or expert examination. The calculation made by the insurance company may not always be accurate; If there is a missing payment, an objection or lawsuit process may be considered.

What is Considered in Value Loss Calculation?

Calculation of depreciation requires a technical assessment. Therefore, it may not be correct to draw conclusions based solely on the service invoice or damage cost.

Which Damages Cause Loss of Value?

Damages to the bodywork, chassis, pillars, ceiling, doors, fender, hood and similar parts may cause loss of value. Repairs to parts that are especially important in the second-hand market of the vehicle may increase the decrease in value.

On the other hand, some minor scratches, simple plastic parts replacement or damage that does not affect the market value of the vehicle may cause a lower loss of value. Concrete evaluation should be made based on the condition of the vehicle.

Does Paint and Part Change Affect Value Loss?

Yes. Paint, parts replacement or heavy repairs on the vehicle may be taken into account in the loss of value calculation. Especially the changed part may have a negative impact on the sales value of the vehicle in the eyes of the buyer.

However, not every painting process creates the same amount of value loss. The nature of the painted part, the age and mileage of the vehicle and the extent of the damage are evaluated together.

Can Loss of Value Be Claimed for Severely Damaged Vehicles?

For heavily damaged vehicles, depreciation calculation becomes more technical. It is important whether the vehicle is totaled or not, whether the repair is economical or not, and how the insurance file is closed.

In vehicles traded pert total, different compensation items may come to the fore instead of loss of value. For this reason, expert and legal evaluation should be made together in seriously damaged files.

Documents Required for Loss of Value

It is important to prepare complete documentation for a loss of value claim. Missing documents may cause the insurance company to reject the claim or prolong the process.

Fault Rate in Loss of Value Case

The fault rate is one of the most important criteria in compensation for loss of value. As a rule, a loss of value claim is not accepted if the requesting vehicle owner is completely at fault.

If the parties' fault is shared, a discount can be made from the calculated loss of value according to the fault rate. For this reason, the accident report and fault assessment should be examined carefully.

Can the Fault Rate be Objected?

Yes. The fault rate determined in the accident report or insurance file may not always be exact. If there is an incorrect fault assessment, an objection can be made.

Camera recordings, witness statements, crime scene photographs, traffic signs and expert examination can enable the re-evaluation of the fault rate. If the fault rate changes, the compensation amount may also change.

In which Court is the Loss of Value Case Filed?

The court in charge of a loss of value case may vary depending on the nature of the parties and the nature of the dispute. In cases filed against the insurance company, commercial court or arbitration may be on the agenda.

In some cases, consumer or general court evaluation may also be made. For this reason, the responsible and competent authority must be determined correctly before filing a lawsuit.

Insurance Arbitration Commission Application

In case of loss of value claims, the Insurance Arbitration Commission can be considered as an alternative to litigation. The arbitration process may be concluded more quickly than a court case in some cases.

However, in order to apply for arbitration, an application must first be made to the insurance company and the necessary documents must be submitted. Whether arbitration is appropriate or not should be evaluated on a case-by-case basis.

How Long Does a Loss of Value Case Last?

Duration of the loss of value lawsuit; It varies depending on the intensity of the court, expert examination, fault objection and the insurance company's defense. The process can generally be shorter in arbitration.

Due to the density of files in Istanbul, the deadlines may differ in each courthouse. Preparing the documents completely and choosing the right application method ensures that the process progresses more smoothly.

Statute of Limitations in Loss of Value Case

Limitation periods should be followed carefully in compensation claims arising from traffic accidents. In general, an application must be made within a certain period of time after learning about the damage and the person responsible.

In cases where the accident also constitutes a crime, longer statutes of limitations may apply. For this reason, the date of the accident, the date of the damage and the time when those responsible were learned should be evaluated together.

Loss of Value in Second Hand Vehicles

Loss of value can also be claimed for second-hand vehicles. What is important is that the market value of the vehicle has decreased due to the accident.

The vehicle's age, mileage and previous damage records affect the calculation. For previously damaged vehicles, the loss of value calculation can be done differently.

Loss of Value in Company Vehicles

Loss of value can also be claimed for vehicles registered in the name of the company. In this case, vehicle license, company records, tax information and authorization documents must be added to the application file.

For commercial vehicles, different claims may also arise, such as loss of earnings for the period when the vehicle is not used. These claims should be evaluated separately from loss of value.

Loss of Value in Rental Vehicles

The claim for loss of value in rental vehicles is evaluated according to who the owner of the vehicle is and the regulations in the rental agreement. The vehicle owner, rental company or relevant insurance party may be included in the file.

In such files, the rental agreement, damage conditions and insurance coverage should be carefully examined. The loss of value is determined by concrete documents.

Is Value Loss and Vehicle Damage Cost the Same?

No. Vehicle damage cost is the repair cost required to repair the vehicle after the accident. Depreciation is the decrease in the second-hand market value of the vehicle even if it is repaired.

These two claims may arise from the same accident; However, they are legally and technically different items. Even if the damage cost is paid, loss of value can be claimed separately.

What to Do If a Loss of Value Claim is Rejected?

If the insurance company rejects the loss of value claim, makes incomplete payments, or does not respond in time, legal action may be taken. The case or Insurance Arbitration Commission application is evaluated at this stage.

The reason for the rejection should be carefully examined. Reasons such as missing documents, defect rate, incorrect calculation or policy limit determine the direction of the process.

Loss of Value Cases in Istanbul

Loss of value cases in Istanbul are one of the most common types of compensation due to traffic congestion. The place where the accident occurred, the headquarters of the insurance company and the addresses of the parties may be important in assessing authority.

In terms of the European Side and Anatolian Side of Istanbul, the court where the file will be opened or the method of application is determined according to the concrete case. Preparing the documents completely ensures that the file is executed more effectively.

Legal Support from Attorney Mehmet Emin Kurşun

In cases of loss of value, accurate calculation, complete application to the insurance company and careful evaluation of the fault rate are of great importance. Missing documentation or incorrect claim may result in reduced compensation.

Attorney Mehmet Emin Kurşun provides legal support in vehicle value loss, traffic accident compensation, insurance applications, arbitration process and value loss cases in Istanbul. In this process, examining the file together from technical and legal aspects reduces the risk of loss of rights.

Things to Know Before Starting the Legal Process

Before claiming loss of value, the accident report, fault rate, damage file, service records and expert report should be evaluated together. It is important to prepare the application to the insurance company completely.

People who claim loss of vehicle value in Istanbul should check the application conditions and statute of limitations before proceeding with litigation or arbitration. A correctly prepared application helps claim compensation faster and more effectively.

Frequently Asked Questions

What is a loss of value lawsuit?

A loss of value lawsuit is a lawsuit filed to compensate for the decrease in the second-hand market value of the vehicle after a traffic accident.

Who can claim loss of value?

Loss of value can first be claimed from the compulsory traffic insurance of the defective vehicle. Depending on the circumstances, the driver, operator or vehicle owner may also be liable.

Does it have to be perfect to get a depreciation?

As a rule, the fully at fault party cannot claim loss of value. The party with less fault may claim loss of value according to the fault rate.

How is depreciation calculated?

The calculation is made taking into account the vehicle age, mileage, damage history, repaired parts, market value and defect rate.

Is it mandatory to apply to the insurance company?

Yes. A written application must be made to the insurance company before filing a lawsuit or applying to the Insurance Arbitration Commission.

What happens if the insurance company doesn't pay?

If the insurance company rejects the request, makes incomplete payment or does not respond in time, a lawsuit or an application to the Insurance Arbitration Commission may be filed.

If the damage cost has been paid, can a loss of value be claimed?

Yes. Damage cost and loss of value are different compensation items. Even if the vehicle has been repaired, loss of value can be claimed separately.

How long does a loss of value lawsuit take?

Duration; It varies depending on the court density, expert report, fault objection and application method. Arbitration may take less time in some cases.

Will there be any loss of value in the old vehicle?

Yes, but the vehicle's age, mileage and previous damage records affect the depreciation calculation. A separate evaluation is made for each vehicle.

Why is loss of value lawyer support important in Istanbul?

Traffic accident files in Istanbul contain dense and technical documents. The fault rate, insurance application, appraisal and proper execution of the litigation/arbitration process may affect the amount of compensation.