Manufacturing Industry Project Recaps: Dust Collector Fire Damage Loss
ILC Assignment:
Inspect the insured’s dust collector that was involved in a fire.
Determine if the dust collector is restorable to pre-loss condition.
If restorable, determine the scope of work to be completed, cost, and timeframe.
Provide RCV and ACV valuation for the damaged equipment.
ILC Inspection Details:
ILC thoroughly inspected the dust collector to determine if it was restorable to pre-loss condition.
ILC reviewed the new replacement quote of $137,836 provided by the insured.
Smoke was observed coming from the ductwork that supplied the dust to the dust collector.
Summary:
ILC determined that it was not feasible to restore the dust collector to pre-loss condition.
ILC provided an ACV valuation of the equipment.
ILC obtained an RCV quote that was $98,205 less than the insured’s supplied quote.
ILC determined that the insured supplied quote was not LKQ and was for a much larger upgraded piece of equipment.
ILC recommended adding the fire suppression system for a replacement to minimize the possibility of a fire in the future. This system was not on the original damaged equipment.
