I have read posts mentioning that this is a gift however I believe this is just compensation to make me whole for the inconvenience of not having my vehicle available to me.
The compensation to make you whole for the inconvenience would be reimbursing you for the expenses incurred in renting another vehicle during that time period. If you borrowed a car at zero expense then how exactly were you inconvenienced or suffered financial damages?
How do insurance companies come up with their loss-of-use figure?
Unless this car is a taxi cab or some sort of business delivery vehicle like a commercial van then loss of use may not be compensable in your accident. If it is then you would present documentation that with that vehicle you earn X dollars per day, week, or month with that vehicle prior to the accident and how much you lost by not having it to conduct business. The amount you lost would be compensable through loss of use. This is something rental car companies claim when a rental car is damaged and has to undergo repairs and therefore is not available to the fleet to be earning them money as a rental.
If you are saying that you want loss of use simply because YOUR car was being repaired then I could see the insurance company fighting that claim since you had the use of a free loaner as a point A to point B car while yours was unavailable.
I am genuinely curious because it would make sense for it to be near the going rental rate for a fair comprable vehicle.
If you actually SPENT the going rate for a comparable vehicle. If you spent zero and used a loaner and they insurance is offering you any money towards rental expense you might want to consider taking it and walking away lest they really look into this part of the claim and deny it all together.
"That's just my opinion, then again I might be wrong." Dennis Miller