The issue of vehicle value loss is handled from different perspectives by insurance and insurance companies. However, before explaining the details of damage and loss of value, it is necessary to examine and understand the concept of loss of value. Although there is no clear definition of the concept of vehicle value loss among the laws stated in our law, it is possible to say that it is carried out in line with the demands on which certain issues form the basis.
With the Highways Motor Vehicles Compulsory Liability Insurance, the insurer shares the responsibilities of the vehicle owner who is at fault during the accident, severally, that is, in a chain manner. According to Article 1409 of the Turkish Commercial Code No. 6102, in case of loss of value during a traffic accident, the traffic insurance institution affiliated with the faulty party is obliged to cover both the damage and loss caused by the accident and to compensate for the loss of value accepted as direct damage.
According to Article 85 of the Highway Traffic Law No. 2918, if the vehicle causes death or injury to a person or damage to something, and if the motor vehicle is operated under the title or business name of an enterprise or with a ticket issued by this enterprise, the operator of the motor vehicle and the owner of the enterprise to which it is affiliated are jointly and severally liable for the resulting damage. Of course, loss of value can vary depending on many different nuances and factors.
To give an example, for example, a vehicle part that has been painted as a result of an accident will not lose value after another accident. However, if damaged parts are replaced, this may cause loss of value. While it is possible to derive these and similar examples, it is vital to obtain detailed information on the subject, conduct comprehensive research and consult a lawyer specialized in vehicle value loss before filing a loss of value lawsuit or taking any action regarding damage loss of value collection.