In one particular case, damage was done to:
- Auto physical damage to truck chassis and trailer
- Inland Marine items - on- and in- the truck
Noticing the lack of central communication point, R&R stepped in. Meeting with each of the adjusters, three approaches were discussed how to evaluate the ACV (Actual Cash Value) of the damaged items:
- Market approach
- Straight-line depreciation
- Broad evidence rule
Each situation will dictate the best evaluation method. In analyzing the various offers from the insurance company's adjusters, and looking at the client's equipment value, R&R was able to recover an additional $78,000+ for our client compared to the original offer from the carrier!
- Determine best method for equipment valuation
- Identify all equipment, including smaller items, with name & serial number
- Document where equipment is bought
- Utilize equipment appraisals that may already be on file for bonding & line of credit purposes
- Especially important for custom built equipment - see www.machinerytrader.com as an example
- Have an independent agent facilitate negotiations
Having a KnowledgeBroker working on your behalf will guide you through complicated claims and ensure you're receiving every dollar you deserve. Want a second look at a claim? Shoot us an email: firstname.lastname@example.org.