Yeah, I realize you have to wait for Insurance Companies to work their “magic”. The question was about “Depreciated Value” to see if anybody had any luck (first-hand experience) prosecuting that.
Here’s what I told her I’d be doing (if they total it):
She paid $36,000 for this vehicle brand new. As a frame of reference, my vehicles end up costing me $2000 or less per year (gross cost) after I drive them 222,222 miles minimum. For example, my 2011 Equinox V6 LT was purchased for $20,700 out-the-door. That was after all rebates, my GM Dollars, etc. It’s about to turn 140,000 miles. In January I’ll hit 9 years with it, so my gross cost will be $2300. Early 2021 I’ll be under my target minimum of $2000/year. I consider that an acceptable gross cost/year.
Kbb says Private Party number (for the Highlander) is $22k-$24k.
I say - an acceptable cost/year (for this Highlander) would be $3,000/year. So I would want $36,000-$9,000=$27,000 as a payout, keeping in mind of NOT being at fault, AND aggravation factor AND increased costs (now) associated with purchasing the replacement vehicle.
So - if it gets totaled, I’m thinking it could come down to a “window” of $5k-$7k that may need to be litigated, unfortunately.
Now - if it doesn’t get totaled, then we have the issue of “Depreciated Value”, but in NO WAY should my sister be financially “injured” here for an accident that wasn’t her fault! The offending party is lucky there are no medical bills. Just get her back to where she was and the offending party can worry about paying for it over the next 6 years…