http://cars.weblogstop.com/2006/04/09/wreck-of-ferrari-enzo-gets-weird/ Cars, Car Reviews And Sometimes Even Stuff About Trucks Wed, 09 Jan 2008 01:45:10 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://cars.weblogstop.com/2006/04/09/wreck-of-ferrari-enzo-gets-weird/comment-page-1/#comment-2 Lawrence Salberg Sun, 09 Apr 2006 23:17:17 +0000 http://cars.weblogstop.com/2006/04/09/wreck-of-ferrari-enzo-gets-weird/#comment-2 Except that most of this was probably covered by insurance. Even a thief can't be held liable for monetary damages that were reimbursed by insurance. Only the difference between the settlement of damages and loss of use caused by the thief will be what the thief is liable for. Of course, the owner's attorney will likely try to attach other damages. Since the insurance company will only settle on an ACV (Actual Cash Value) basis, the cost of procurring a new Enzo - on today's market - will not be compensated by the insurance company. However, the owner of this type of vehicle most likely (and hopefully) would have had it insured as a scheduled property and therefore a complete monetary reimbursement (with no deduction for appreciation) would be likely (minus a small deductible - $10,000 probably). Except that most of this was probably covered by insurance. Even a thief can’t be held liable for monetary damages that were reimbursed by insurance. Only the difference between the settlement of damages and loss of use caused by the thief will be what the thief is liable for. Of course, the owner’s attorney will likely try to attach other damages. Since the insurance company will only settle on an ACV (Actual Cash Value) basis, the cost of procurring a new Enzo – on today’s market – will not be compensated by the insurance company. However, the owner of this type of vehicle most likely (and hopefully) would have had it insured as a scheduled property and therefore a complete monetary reimbursement (with no deduction for appreciation) would be likely (minus a small deductible – $10,000 probably).

]]>