You pick up habits and procedures in CLAIMS adjusting just like any other business. When you’ve been doing it for 50+ years, your list of habits and procedures is lengthy. One of my habits is to quiz a vehicle owner when I first receive an assignment. First, I ask “how badly is it damaged?” After listening to the description of damages, I develop an opinion as to how the claim might proceed. If it might be a total loss, I ask a follow up question which is “tell me a little bit about the vehicle.” That’s when we start discussing the specifications of the equipment.
Twenty years ago the information you secured from the equipment owner was 99% accurate. Today, I would put that figure at more like 50%. I have in front of me a claim on a badly damaged 2024 Peterbilt 389. The owner described the sleeper as being a 63 inch mid roof but in reality it is a 58 inch flat top. The difference? About $4500-$5000 on the ACV. “Like new” tires turn out to be 25% worn. Even Cummins engines turn out to be PACCAR engines when we actually make our inspection. You would think that a 2024 reefer unit purchased new by the insured would be a simple ACV work up. But wait, the design of the reefer unit made me suspicious enough to warrant an inspection. This provided that the reefer unit itself was a 2020 model with high hours. The result, a $10,000 reduction in the ACV. But too late because figures had already been discussed with the equipment owner.
The common denominator is that the misinformation provided by the owner always seems to add to the ACV of the equipment. Why? Just look in a forums section of the internet regarding OTR trucking. There’s instructions on how to defeat our current CLAIMS handling system.