Loss of use in New Mexico
For New Mexico the law defines “loss of use” as the “reasonable rental value of similar property during the period reasonably required for the repair of
the damaged property.” N.M.R.A., Rule 13-1818. However insurance company is stuck on basic $25 per day transportation. How would you interpret this? I’ve argued it has to be equivalent or at least the same class. Any advice or help appreciated.
Location: New Mexico