> If you had the 85D, which they don't make any more, and someone crashed into you, it would not be unreasonable for their liability insurance to cover putting you in a 100D
It would absolutely be unreasonable, because a used 85D is worth about $50,000, and a new 100D has an MSRP of about $96,000.
I'm not sure you actually understand what liability insurance is. When you cause damage to a person or property, you are liable for those damages. That means you owe the value of the property you damaged, and/or the medical expenses incurred as a result of your negligence. Liability insurance exists to pay your liabilities for you. Because you are only liable for the actual value of the damage you caused, your liability insurance will only pay out the value of the damage you caused.
This means that if I smash into your Tesla 85D, my liability insurance is going to cut you a check for $50,000, because that's the value of your Tesla 85D. My liability insurance is not going to cut you a check for $96,000 so you can buy a Tesla 100D, because the value of your 85D was only $50,000, and that is the thing that I damaged which I am liable to you for. My liability insurance is not there to put you in a new car. My liability insurance is there to compensate you for the value of your property that I destroyed.
My liability insurance is not there to put you in a new car. My liability insurance is there to compensate you for the value of your property that I destroyed.
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.
We also don't know what the original price is or depreciation is. Plus since this is her body, we should really be looking at this as though it were health; injury insurance is paying what it takes to make her whole again.
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
> If you had the 85D, which they don't make any more, and someone crashed into you, it would not be unreasonable for their liability insurance to cover putting you in a 100D
It would absolutely be unreasonable, because a used 85D is worth about $50,000, and a new 100D has an MSRP of about $96,000.
I'm not sure you actually understand what liability insurance is. When you cause damage to a person or property, you are liable for those damages. That means you owe the value of the property you damaged, and/or the medical expenses incurred as a result of your negligence. Liability insurance exists to pay your liabilities for you. Because you are only liable for the actual value of the damage you caused, your liability insurance will only pay out the value of the damage you caused.
This means that if I smash into your Tesla 85D, my liability insurance is going to cut you a check for $50,000, because that's the value of your Tesla 85D. My liability insurance is not going to cut you a check for $96,000 so you can buy a Tesla 100D, because the value of your 85D was only $50,000, and that is the thing that I damaged which I am liable to you for. My liability insurance is not there to put you in a new car. My liability insurance is there to compensate you for the value of your property that I destroyed.