Hi,
I was involved in car accident, and it was not my fault.
The motorbike is a writeoff, as the cost of repair almost match the market value.
The other insurance does not want to pay the market value, but instead only 70% of it, and I will keep the motorbike. As far as I understood, in general the insurance has two options:
1) cover the whole cost of the repair
2) take the bike and give me its market value.
Anything different from this has to be agreed by both party.
Am I right in asking the whole market value?
About the market value, the inspector stated a "buying price" (i.e., the money that I will get if I sell the bike) and a "selling price" (i.e., the money that I have to spend to buy a similar bike). He stated that the market price is something in the middle. I think the market price is the "selling price". Am I right?
Thanks
Luca
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