Courts are starting to resist ACV values developed by vendors who have not inspected the vehicle. The vendors have so many disclaimers to include their work product is not an ACV as “only the insurer can determine an ACV.” If it is not the ACV, why should a court accept it as such? Why should an insurance company for that matter? This is for the most part, a resistance to liability on the part of the vendor for developing a product based solely on hear say. Hear say being the field adjusters information provided to that vendor.
Our company has been monitoring vendor ACV workups and have access to reports by two popular vendors. Both vendors are provided with the exact same photos and data sheets: Here are the results:
2015 Pete 389: Vendor #1 – $128,531.00 Vendor #2 – $142,746.07
2017 Great Dane Van: #1 – $20,658.00 #2 – $25,983.34
2019 Freightliner M2: #1 – $100,040 #2 – $70,416.66
Interesting that we have gotten so far off the mark of accuracy because learning the Heavy Equipment trade has such a long curve. At HEA, we provide you with accurate evaluations based on local dealer quotes and comparable vehicles for sale within a reasonable distance from where the unit is principally garaged. Not vehicles located thousands of miles away and in an area where it is unreasonable for an insured to shop for a replacement.