ILC ASSIGNMENT
We inspected the insured’s equipment, damaged in a fire, to determine if restoration to its pre-loss condition is feasible or if replacement with new equipment is necessary. Our assessment included defining the scope of work, estimating costs, and establishing a timeframe for the restoration process. Additionally, we provided both Replacement Cost Value (RCV) and Actual Cash Value (ACV) valuations for the damaged equipment.
ILC INSPECTION DETAILS
- ILC conducted a comprehensive inspection of the concrete batch plant and its supporting equipment.
- The 5-yard portable Ross Batch plant was found to have incurred substantial thermal damage to its structure, electrical components, and weighing system.
ILC VALUE-ADDED CONSULTING
- ILC verified the insured’s replacement value at $274,407.
- We assessed that restoring specific components of the concrete batch plant to pre-loss condition was not feasible.
- It was determined that the conveyor system could be successfully restored to its pre-loss condition.
- We furnished both ACV and RCV valuations for the equipment.
- Also provided a LKQ replacement quote, revealing a $51,754 reduction compared to the insured’s provided quote.
- We identified discrepancies in the insured’s quote, noting it was not LKQ, included an uninspected item, and lacked wall mounts and mounting kits.