recovering gap

[Mike Veglia]

In a message dated 8/8/2002 scott thomas writes:

<< Next, my point is can I legally reclaim the
amount of the gap from the other driver or
insurer through legal means? >>

What "gap"? In reading this thread, and please correct me if I am wrong, we
are talking about a car (not an Audi no less) that had an estimated fair
market value at the time of the accident of (at best) ~$22-23k (which, BTW,
from what I have seen in the used car market around here may be
optimistic...nothing is pulling better than wholesale at retail dealers it
seems these days in my part of the country). The settlement offered on
property damage is in the ballpark (wasn't it like ~$21-22k?).

Any additional "gap" between the current market value and price paid for the
car 3 years ago is called "cost of ownership" or "depreciation" which is not
the responsibility of the derelict driver's insurance co. I know is sorta
sucks, but that's life. Get the claim over with, buy another car, and move
on...(assuming the injury settlement is reasonable).

Mike Veglia
Motor Sport Visions Photography
http://www.motorsportvisions.com