On presentation of vehicle loss (loss of commodity value) is designed almost every car owner after damage to his car. What does “loss of commercial value”? Why do insurance companies do not take into account the value of lost commercial value when calculating compensation? Cases where this value is not calculated and from which it depends? All this is told in the next article.

What does the term LCV?

The value of the loss of commercial value (LCV) – notional value reduction of the market value of a road vehicle, reduced by regulatory requirements after injury, compared with a market value of such a road vehicle intact.

or

Size LCV describes the physical deterioration that occurs in the event of damage to the vehicle and the corresponding repairs due to premature deterioration of trade (external) appearance, as well as due to decrease in strength or durability of certain elements of the components, protective properties of the coating or application to repair parts that were in use or repair.

Why do insurance companies do not take into account the value of lost commercial value when calculating compensation?

According to Article 32 of the Law of Ukraine “On compulsory insurance of civil liability of owners of vehicles” in paragraph 7 stated that the insurance company will not reimburse the damage associated with the loss of presentation. This means that if your insurance company compensation of losses under the policy of civil liability of loss of commercial value are excluded. But if you are insured by the insurance policy, then the insurance contract can be specified for compensation for the loss of the commodity value of the car, although this is quite rare. But you can at will recover the value of the loss of commercial value culprit in accidents in court. For this you need to consult a valuer and learn about the inclusion in material damage LCV.

According to the law of loss of value of the commodity value is ignored if:

a) if the life of the cars exceeds 5 years for vehicles produced in the CIS, 7 years – for other vehicles;

b) if cars operated in intensive mode (the actual mileage of at least double the regulation), and lifetime exceeds:

3.5 years – for vehicles produced in the CIS;

5 years – for other vehicles;

c) service life of freight vehicles, cargo and passenger vehicles, trailers, semi-trailers, special vehicles, specialized vehicles, buses exceeds 3 years for production vehicles of CIS countries and 4 years – for other vehicles;

d) if the service life of motor vehicles exceeds 5 years;

e) if the body has been replaced for damage;

f) if the components of the car were previously subjected to renovation or painting of the complete, external, partial (except in the case of unequivocal evidence of repair of operational damage, in accordance with point 1.6 of Section I of this Procedure);

g) if it is necessary to replace individual components that do not require painting and do not impair the appearance of the vehicle (glass, lights, bumpers, trims, pneumatic tires, outer and inner accessories, etc.). If, in addition to the mentioned components, the components of the body and the plumage are damaged, the calculation of the value of the VTV must take into account all the damages of the components in the complex;

h) if the components of the car have end-to-end corrosion damage or corrosion damage that has led to a reduction in durability and strength the material of their manufacture;

i) if the car was previously damaged accidentally;

j) if the components of the body plumage, the cabins are deformed, except those which can be removed by the method of removal dents without staining and falling under the definition of operational damage in accordance with point 1.6 of Section I of this Methodology;

k) if the car was issued to the citizen free of charge through the social protection bodies (except when the LCV is charged under the task of the person or body that appointed the examination);

l) if the coefficient of physical wear is determined for the components of the car according to the requirements of paragraph 7.44 of section VII of the Methodology.

(Methods of commodity expertise and evaluation of wheeled vehicles paragraph. 8.6.2)

In the algorithm determination of the loss of commercial value, with your permission, will not stop, but read it you can Methodology in commodity expertise and evaluation of wheeled vehicles.

From the foregoing conclusions can be drawn:

• Insurance companies in most cases do not cover the loss of value of the commodity value.
• The magnitude of the loss of commercial value can reimburse the court as part of the material damage, provided that in case your claim is not covered. 8.6.2 Methodology commodity expertise and evaluation of wheeled vehicles.
• For full information necessary to contact a specialist who will provide full information on the possibility of calculating the LCV, its value and if expediency of going to court, prepare documents with calculations and conclusions.