The methodology of determining the amount of any damage respectivelly damage assessment is very important for an objective and fair compensation for damages.
Assessment of damage to a motor vehicle shall be implemented in several phases, namely:
I phase – determining of the value of the motor vehicle on the day of the damage
II phase – determining the value of the salvaged parts (residues) of vehicle
III phase – determining of the extent and value of the damage to the vehicle
IV phase – calculation of the total damage.
Determining of the value of the motor vehicle on the day of the damage
Determining of the value of the motor vehicle on the day of the damage represent first step whereby begins damage assessment.
For the determining of value shall be taken the following elements:
- New purchase price of the vehicle – shall be determined on the basis of market value if the subject model is produced or from the representative Catalogue of the relevant organization.
- Age of the vehicle and the date of first registration – on the basis of this data shall be carried out the decrease of value by age and category (0-76%).
- Traveled number of kilometers – a correction of value shall be made in relation to the fact if the subject vehicle has traveled more or less kilometers than the average predicted (± 3%).
- The general condition of the vehicle – a drop in value shall be determined in relation to the disrepair of the vehicle (± 0-10%).
- Investment – takeing into account the corrections which affect on the value of the vehicle (+ 0-10%).
- The manner of exploitation – depending on the purpose of the vehicle it shall be included a drop of the value (0-8%).
- Earlier claims, the method and the quality of the made repairs – a drop of the value (0-6%).
- Supply and demand in the market (± 10%).
If by the application of all the listed factors shall be found that the decline in value of the vehicle is more than 80% of the new purchase price, then the vehicle may have a maximum value of 20% of the value of a new vehicle.
Determining the value of the salvaged parts (residues) of vehicle
The value of remains with the damaged vehicle represents the market value of the usable parts reduced for the cost of dismantling, preparation, control and sale with the appropriate taxes.
The value of the parts which can’t be used shall be sold as scrap materials.
Determining of the extent and value of the damage to the vehicle
In determining the scope of damage to a motor vehicle should be determined based on knowledge of the degree of damage to individual parts and parts of the vehicle, technology repairs, as well as the price of spare parts and repairs:
- the value of replacement parts
- the value of the works for repairs
- value of redecorating and
- consumable materials.
Here it should be noted that in the budget should be calculated and so called reduced value of the vehicle, if the vehicle after the repair can not be fully restored to its previous state.
The calculation of the total damage
The calculation of the total damage to the vehicle is the last phase wherewith the damage assessment shall be terminated.
If the cost of repairs and possibly diminished value of the vehicle are equal or greater than the value of the motor vehicle on the day of the damage occurred reduced for estimated residual value it is about the total loss. In this case, the liquidation of the damage shell be done to the value of the vehicle which shall be usually reduced by the value of the rest.
Otherwise the repairs at an authorized service center shall be performed according to specification of determined the extent and value of the damage to the vehicle.
Also according to the listed methodology shall be done the assessment of the damage in case of theft of the vehicle. In this case, it shall be done estimating of the vehicle’s value on the day of the theft. Damage assessment will be implemented from the authorized person or Expert in the field of traffic and technical professions, according to the special requirements of the interested parties.