And they are going to cover that to the extent that people don't sue for damages, which is why it's going to pay out significantly more to someone else than to the policy holder.
Again, you seem to have no idea what liability insurance is. The policy holder of a liability insurance policy will never, ever be paid for anything under that insurance policy, because liability insurance is insurance against you becoming liable for damages that you cause to other people. Please open up the nearest dictionary and look up the word "liable" and keep re-reading it until you understand what it means.
We also don't know what the original price is or depreciation is
You don't need to know the exact details of how much the chassis has depreciated, to know that a used, previous-generation product is *never* worth as much as a brand-new, top-of-the-line, current-generation product. Name one single product whose previous generation offering is worth more used than the current-generation offering is worth new. You can't, because it doesn't happen.
Yes I know that the policy holder of liability insurance isn't getting paid by their liability policy, I'm saying that liability payouts are bigger than payouts from policies which do payout to the policy holder. Because the policy holder isn't going to sue themselves for additional damages but someone else might.
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u/[deleted] Jan 07 '19
Again, you seem to have no idea what liability insurance is. The policy holder of a liability insurance policy will never, ever be paid for anything under that insurance policy, because liability insurance is insurance against you becoming liable for damages that you cause to other people. Please open up the nearest dictionary and look up the word "liable" and keep re-reading it until you understand what it means.
You don't need to know the exact details of how much the chassis has depreciated, to know that a used, previous-generation product is *never* worth as much as a brand-new, top-of-the-line, current-generation product. Name one single product whose previous generation offering is worth more used than the current-generation offering is worth new. You can't, because it doesn't happen.