Regulation 10 Compensation in relation to ordinary claims: motor vehicle and stock in trade exceptionsI1
England and Wales
Where an ordinary claim relates to a motor vehicle which is not stock in trade, the Authority must decide the amount that reflects the ordinary claimant’s loss by reference to whichever of the following costs is relevant—
if the vehicle has been damaged in such manner that it can only be repaired at a cost that would exceed its market value immediately before the damage, the cost of replacing it at that market value;
if the vehicle has been damaged but not in the manner described in sub-paragraph (a), the cost of repairing it to its previous condition;
if the vehicle has been destroyed, or stolen and lost, the cost of replacing it at its market value immediately before its destruction or theft.
Where an ordinary claim relates to the theft and loss, damage or destruction of stock in trade other than second–hand stock, the Authority must decide the amount that reflects the ordinary claimant’s loss by reference to the cost of the stock at its replacement value or current market value, whichever is lower.
Where an ordinary claim relates to the theft and loss, damage or destruction of second-hand stock in trade, the Authority must decide the amount that reflects the ordinary claimant’s loss by reference to the Authority’s reasonable estimate of the cost of the stock at its replacement value.
Annotations
Commencement
- I1
Reg. 10 in force at 6.4.2017, see reg. 1(1)