The policyholders argue this violates each their insurance coverage contracts and Ohio rules governing complete loss settlements. Their insurance policies promise to pay precise money worth, outlined as “decided by the market worth, age, and situation of the car or property on the time the loss happens much less depreciation or betterment.” Betterment, the insurance policies state, means “enchancment of the auto or property to a price higher than its pre-loss situation.” Depreciation means “a lower or loss in worth to the auto or property due to use, disuse, bodily put on and tear, age, outdatedness or different causes.”
