Depreciation is the case of a vehicle's market capitalisation falling after an accident, even if it is repaired. The purchase and sale value of an accident vehicle is usually lower than before the accident. This creates a burden that is both psychological and financial. Vehicle owners both experience financial losses and have difficulty in selling the vehicle due to the effect of the accident.
Legal Basis of Loss of Value Compensation
In Turkish law, the right to claim depreciation compensation is based on the Turkish Code of Obligations. According to this law, the party causing the damage has a compensation obligation against the damaged person. Depreciation compensation can be claimed within the framework of the responsibility of the party causing the accident.
What are the Terms of the Depreciation Case?
In order for the depreciation case to be filed, some conditions must exist.
• A depreciation of the vehicle has occurred,
• It is not one of the exceptions specified in the law,
• It has been applied to the insurance company and as a result of the application, the insurance company responded negatively or did not give any response within the period.
Apart from these stated conditions, due to the fact that there are many legal regulations regarding the procedure and principles that should be considered in the stages of the application and devalue case, it will be more appropriate for the lawyers who are experts in this field to carry out the process in this field so that the person who had an accident and whose value was in his vehicle does not lose their future rights.
Value Loss Calculation
There are several important factors in calculating the depreciation compensation:
Vehicle Value: The pre-accident market value is based on the loss of value calculation.
Post-Crash Value: The market capitalisation of the vehicle after it is repaired.
Accident History: Accidents of the vehicle in the past and their impact.
Vehicle Status: Repair quality, general condition of the vehicle and usage history.
Considering these factors, depreciation compensation can be calculated. Vehicle owners usually detect depreciation by getting support from an expert.
Who Is Claimed For Depreciation Compensation
Traffic insurance comes into play to meet the depreciation of your vehicle after the accident. The traffic insurance of the defective driver in the accident meets the compensation for the depreciation of the vehicle of the person who was perfect in the accident.
In accordance with the General Conditions of Highways Motor Vehicles Compulsory Financial Liability Insurance, the depreciation after the repair in the damaged vehicle is covered by the traffic insurance coverage. Therefore, in practical application, there is no need to demand any depreciation from the defective driver himself.
However, the vehicle owner, driver and traffic insurance of the party who was found to be at fault in the accident are jointly and jointly responsible for the vehicle depreciation compensation. Therefore, in cases where the defective vehicle does not have compulsory traffic insurance, you can request compensation for your damage from the defective driver himself.
Court in Charge in the Depreciation Case
The court in charge of the depreciation lawsuits filed against the insurance company of the vehicle, which was defective in the accident, is the commercial courts of first instance. The competent court, on the other hand, is the court at the place where the accident occurred or the court where the defendant was located or the court where the victim was located.
In addition, after the depreciation compensation application process is completed, the lawsuit can be initiated directly through the Insurance Arbitration Commission.
Timeout in the Depreciation Case
The statute of limitations in these cases is 72nd of the Turkish Code of Obligations No. 6098. In accordance with the article, it is timed out for 2 years from the date of learning the damage or the compensation and probably within 10 years from the date of the act, that is, the accident. For this reason, people who have a traffic accident should pay attention to these periods.
Depreciation compensation is an important right for vehicle owners and helps to compensate for financial losses after traffic accidents. Vehicle owners should act knowing their rights and make compensation claims when necessary by getting professional help. In this way, it will be possible to minimize the negative effects of the accident.
Summary
Depreciation is the case of a vehicle's market value falling, even if it is repaired after an accident. The purchase and sale value of an accident vehicle is usually lower than before the accident, which creates a psychological and financial burden for vehicle owners. In Turkish law, the right to claim depreciation compensation is based on the Turkish Code of Obligations. In order to file a depreciation case, conditions such as depreciation in the vehicle, application to the insurance company and a negative response are required. Factors such as vehicle value, post-accident value, accident history and vehicle status are taken into account in the calculation of depreciation compensation. Depreciation compensation is claimed from the traffic insurance of the defective driver in the accident. The court in charge of depreciation cases is the commercial courts of first instance and the statute of limitations is 2 years and probably 10 years.
Result
Depreciation compensation is an important right that helps vehicle owners make up for their financial losses after traffic accidents. Vehicle owners should act knowing their rights and make compensation claims when necessary by getting professional help. In this way, it will be possible to minimize the negative effects of the accident. It will be useful to contact expert lawyers for your questions about the depreciation case and your requests for legal help.
Please do not hesitate to contact us for your questions and legal assistance requests regarding the depreciation case in Türkiye.
AUTHOR:
Attorney Burak Can DOĞAN
Contact: 0544 392 88 46
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