WHAT IS VALUE LOSS?

Although a vehicle involved in a traffic accident is repaired, when it is tried to be sold in the free market, the market loses its fair value. Those who will buy a vehicle want to buy a vehicle that has crashed at a lower price. With the developing technology, when a person wants to buy a vehicle, they can send an SMS to 5664 and access all damage records of the vehicle. The damaged vehicle is also bought and sold for a lower price.

The loss of value also attracts the attention of vehicle owners at this stage. Vehicle owners will also be able to compensate and collect the value losses caused by the decrease in the value of their accident vehicles from the vehicle owner, insurance company, and driver.

In a decision made by the 17th Civil Chamber of the Supreme Court, "the loss of value in the vehicle is among the actual loss items. The defendant insurance company should also be held responsible for the loss of value in the plaintiff's vehicle, within its limits, and provided a legal basis and protection against the insurance companies in favor of the vehicle owners.

WHO IS RESPONSIBLE FOR PAYING THE LOSS OF VALUE?

First of all, the owner of the defective vehicle involved in the traffic accident, the insurance company that regulates the Highways Motor Vehicles Compulsory Financial Liability Insurance (KMAZMS-Traffic Insurance) policy, the vehicle operator, the person driving the vehicle are jointly and severally obliged to pay the loss of value.

There is more than one responsible person in accordance with the Highway Traffic Law. The responsibilities of these people are also joint and several responsibilities.

In other words, you have the right and authority to demand your purchase from any person or all at the same time.

HOW TO REQUEST LOSS OF VALUE?

You can claim the loss of value from the insurance company that issued the KMAZMS-Traffic Insurance policy of the other party when you experience any damage.If the insurance company does not offer an acceptable amount of depreciation or rejects your request, you can apply to the court and file a lawsuit against all responsible persons, including the vehicle owner, operator, driver, and the insurance company. Considering the length of the operation and process of the judicial system in Turkey can be considered in this case includes an estimated 1-2 year period.

However, our recommendation is to apply to the Insurance Arbitration Commission. It is an alternative dispute resolution authority that has the authority to judge in the Insurance Arbitration Commission. In the Insurance Arbitration Commission, an application can only be made against the insurance company that issued the compulsory liability insurance policy (traffic insurance) of the other party's vehicle. No application can be made to the Insurance Arbitration Commission against the vehicle owner, operator, or driver.

Applying to the insurance arbitration commission is less costly and can be decided in a shorter time than applying to the courts. Your application will be finalized within a maximum of 6 (six) months, excluding exceptions.

HOW IS THE AMOUNT OF VALUE LOSS CALCULATED?

Vehicle depreciation calculation is made within the framework of the criteria determined by the "General Conditions of Highways Motor Vehicles Compulsory Liability Insurance" published in the Official Gazette dated 01.06.2015 and numbered 29355. Since there are many variables involved, it will not be possible to say an exact amount from the beginning. Calculations are made by expert insurance experts, taking into account the vehicle's production year, date of use to traffic, damage history and the characteristics of these damages, mileage, brand, and model. Courts or Insurance Arbitration Commission decide how much value is lost in line with this calculation.

We strongly remind you to know that anyone who offers or undertakes a guaranteed figure in any way may not be in good faith or mislead you.

WHICH CONDITIONS CAN NOT BE LOSS OF VALUE?

- In any case, at least two vehicles must be involved in a traffic accident to claim value loss. If you hit your own vehicle at your own fault, you cannot claim value loss. Because you can request the loss of value from the relevant people of the other vehicle involved in the traffic accident.

- If you have 100% of your own fault in the occurrence of a traffic accident, you cannot claim value loss because the other party is perfect. For example, if your defect rate in a traffic accident is 50% and your vehicle has a loss of 10,000.00 TL in value, you can only claim a value loss of 5,000.00 TL. Because you also have a flaw in the occurrence of the accident. In order to get a high-value loss, you should not have a fault or below in the formation of the accident.

- Simple bodywork, plastic bumper/part repairs, glass, radio/tape, tire, airbag, rim, mechanical, electrical, electronic, and upholstery damage that can be fixed with a mini repair are not covered by the value loss coverage.

- Damages that can be fixed by repair/replacement on screwed parts without damaging the main frame and chassis are not covered by the value loss coverage.

- If there is more than one damage in the same place or 3 or more damage in the vehicle history, vehicle mileage is more than 165,000 km, it is very difficult to get a loss of value.

- Loss of value may also be a problem for vehicles with a change of ownership on the vehicle owner. For this reason, we recommend not changing ownership between the date of the accident and the date of notification to the insurance company.

WHAT IS THE LIABILITY OF THE INSURANCE COMPANY?

As of 2017, the insurance company that issued the KMAZMS-Traffic Insurance policy is liable for a maximum amount of 33,000.00 TL monetary compensation per vehicle. In other words, if your vehicle is involved in a traffic accident, you will be able to claim material compensation up to a maximum of 33,000.00 TL from the KMAZMS-Traffic Insurance policy of the other party. For example, if your vehicle has been repaired for 30,000.00 TL and the amount of loss of value of 10,000.00 TL is output, the maximum amount you can get from the insurance company will be 33,000.00 TL. You continue to have the right to claim the remaining 7,000.00 TL from the vehicle owner, vehicle operator, and driver.

IS THERE ANY CHANGE IN YOUR DAMAGE RATE OR INSURANCE PREMIUMS AFTER THE LOSS OF VALUE IS REQUESTED?

I want to repeat it for better understanding. Your loss of value is covered by the opposite party's KMAZMS-Traffic Insurance policy. In other words, it has nothing to do with the Motor Own Damage Policy you have made on your own vehicle. The no-claim discount will only appear when you have your motor own damage insurance. It is a mandatory policy under the name of KMAZMS-Traffic Insurance, and your vehicle will not be able to enter the traffic without having it done. The reason for this obligation is to compensate the damages of these people if we are involved in an accident and cause harm to people other than ourselves. The loss of value is in the nature of damage to the vehicle of the other person and is within the scope of the KMAZMS-Traffic Insurance policy. However, the Motor Own Damage Policy is made to compensate our own vehicle and the persons in our vehicle. With the KMAZMS-Traffic Insurance policy, on the other hand, we can compensate for the damages that we cannot compensate for through our own motor own damage insurance policy. For these reasons, demanding the loss of value will not cause any additional burden on your no-damage rate.

Likewise, there will be no change in your insurance premiums. Because you will demand the loss of value from the KMAZMS-Traffic Insurance policy, not your own vehicle, but the other vehicle involved in the accident. The insurance premium paid by the other party should not be your concern. Apart from this, as it is known, the limits and guarantees of the KMAZMS-Traffic Insurance policy are determined and announced by the Undersecretariat of Treasury, and insurance companies do not have many initiatives while determining the premiums. As reflected in the media, the Undersecretariat of Treasury is also making a great effort to reduce these premium amounts. As a result, claiming value loss will in no way affect the premium rates.

WHAT ARE THE DOCUMENTS REQUIRED FOR THE VALUE LOSS DEMAND?

In the Turkish legal system, the rule of "the principal is obliged to prove his claim" is valid. The person who claims to have lost value must prove this loss. If he wants to compensate for his damage by applying to the court, the rules to be determined by the court should be followed. Our recommendation is to apply to the Insurance Arbitration Commission if you have compensation or loss of value within the limits of the KMAZMS-Traffic Insurance policy. In the applications to be made here, information and documents such as license, service invoice, repair photos, accident reports are required. Again, there are forms to be filled in to apply to the Insurance Arbitration Commission.

IMPORTANT RECOMMENDATIONS

- In the event of an accident, always prepare an accident report and take photos of the accident. When your vehicle goes to the service, get the repair photos and invoice from the service.

- It will be beneficial for you to apply to the Insurance Arbitration Commission in order to get your value loss in the insurance company's policy limits in a short time.

- There are many websites or many consultancy firms that lose value. Search for people who promise you a guarantee. However, the person who is not actually a lawyer is doing the job of depreciation and tells you to be careful with these people, not to give power of attorney to people you do not trust, do not know, or do not research enough.

You can access the news in the press on the subject from the links below:

https://www.youtube.com/watch?v=CMJMHrWEb-M&feature=youtu.be

http://www.yenisafak.com/ekonomi/deger-kaybini-da-tahsil-edin-2791157