Many years ago I was a partner in a 182, with a CS prop with a TBO of 2000 hrs. Partner had a prop strike at 1200 hrs (60% of 2000 hrs). Overhaul cost at TBO was $2000. New prop was $7000.(list price). Insurance offered $7000, minus 60% of $2000 (the overhaul cost we had "used up"), or $7000 - $1200 = $5800, as the current value of the prop.
I thought it was fair, especially since they used list prices and just gave us cash. We negotiated with the prop shop, they kept the old one and sold us a new one for $6K.