Service & Specializations From Carolina Precision Claims
Services & Specializations
- Full Adjustment
- Desk Reviews
- Phone Claims (Small Losses)
- Salvage Sale
- Title Transfer
- Cause and Origin
- Liability (Casualty Only)
- Tractor Trailer
- Heavy Equipment
- Construction Equipment
- Logging Equipment
- Farming Equipment
- Emergency Vehicles
- Tankers & L.P. Gas
- Specialized Equipment
- Boats and Watercraft
Some highlights of our claims handling process
Claim Receipt / Contact
- New claim assignments will receive immediate attention and contact attempts will be made on the date received. On the onset of the assignment a contact letter will be sent along with a questionnaire to be completed by the insured, initial contact letter will request copies of wrecker and tow bills, maintenance records, and copy of title.
- Upon receiving the assignment we will review loss details as reported and verify policy coverage for the reported loss. If any questions arise we will take the necessary steps to protect your rights.
- As soon as any subrogation possibilities arise during the handling of the assignment our office will put the other party on notice of their responsibilities and our demands via certified mail return receipt requested.
- Assigned losses will be inspected within one (1) to three (3) business days of the assignment. In situations where the insured is still operating we will set up an appointment to inspect. We will then put the insured on written notice advising the insured that no coverage will be afforded for any possible ensuing damages resulting from the continued operation.
- Our inspection process consists of completing a detailed inspection sheet listing all unit attributes. We have designed our own detailed inspection specifications sheet for each type of unit being inspected.
Cause and Origin
- While inspecting we will attempt to ascertain cause and origin of all fire losses, equipment component failures, and improper prior repairs. We will then report our findings, and if needed, for any subrogation or claims denial, hire an expert.
- Our insurance adjuster has extensive experience and knowledge of Mechanical, Electrical, and Hydraulic systems and related components and their operation. In most cases we will be able to check and identify the failed or improper part or component.
- All related damages will be documented on an itemized basis. Our office will recommend and coordinate with the insured’s shop of choice as to the best course of action to put the insured’s unit back to its pre-loss condition. For each item damaged we will either repair or replace (with OEM, Remanufactured Parts, LKQ or Aftermarket Parts). Any open items will be checked before any repairs are begun and a final estimate is submitted. Once the repair estimate has been finalized, all interested parties will be given a copy.
- Any and all unrelated damages will also be noted on the itemized repair estimate as being old and unrelated. This is completed to ensure all parties are aware these items are damaged but not covered under this loss.
- Every repair estimate will have a disclaimer noting the use of Aftermarket Parts and or LKQ Parts as required. The estimate will also note the responsibilities of the repair shop and owner.
Betterment / Allowance
- Betterment will be considered on all items that are subject to wear and tear. Betterment will be determined by certain factors such as age, mileage or hours, condition, and records.
- Allowance will be considered for items damaged and are cosmetic in nature.
ACV / RCV / ITV Coinsurance
- After our inspection, if the unit appears to be a total loss or a constructive total loss or a company requirement our office will conduct a survey of values from at least 4-sources to determine ACV (Actual Cash Value) or pending policy wording RCV (Replacement Cost Value).
- If the policy has a coinsurance clause we will complete an Insured-To-Value assessment and coinsurance calculations completed in order to determine if the unit is adequately insured to value.
- Carolina Precision Claims will make every attempt to negotiate reasonable wrecker, recovery, and storage charges on assigned losses.
- In the event wrecker, recovery, and/or storage are excessive, we can assist and encourage the Insurance Company and Insured/Owner to pursue legal relieve through the filling of a Replevin, Detinue, or Trover also known simply as a “Claim and Delivery”.
- Appraisal: A captioned report with payment recommendations for average appraisal losses will be completed within seven (7) days. All documentation, including report, inspection sheet, estimate, photographs and any other supporting documentation will be sent via email in a PDF format unless other specific requests are made.
- Adjustment: A captioned report will include all specific claim information along with details of the loss including the repair recommendations ITV (for Coinsurance Policies) cause and origin, subrogation, and suggested payment, underwriting comments and enclosures. In most cases this assignment will be completed within ten (10) days. All documentation, including report, inspection sheet, estimate, photographs and any other supporting documentation will be sent via email in a PDF format unless other specific requests are made
- Totals and Larger Losses: A captioned report will include all specific claim information along with details of the loss including the repair recommendations, ACV/RCV, Salvage Bids, ITV (for coinsurance Policies) cause and origin, subrogation, suggested payment, underwriting comments and enclosures. All documentation, including report, inspection sheet, estimate, photographs and any other supporting documentation will be sent via email in a PDF format unless other specific requests are made. All large losses requiring investigation work will be reported in stages. Initial captioned report will be submitted within ten (10) days after receipt of the claim, and then at ten (10) intervals until completed.
Insured / Owner Closing
- Our office can secure all properly executed documents for claims payments. Consisting of but not limited to a Proof of Loss, Bill of Sale Power of Attorney, Odometer Statements, Owner Retained Salvage, Subrogation Agreement, Inland Marine Proof of Loss, and Releases.
- Upon request we will visit the scene and conduct an investigation. Our investigation will include a scaled diagram of scene and photographs. We can conduct a line of sight from both driver viewpoints.
- Upon request we will obtain statement from all parties.
- We have a wide range of salvage buyers to offer top salvage return on our salvage.
- A letter of guarantee will be obtained from any lien holder, guaranteeing the release of a free and clear title.
- A North Carolina (NC) salvage title will be obtained for all salvaged titled units.
- Upon request we can review a repair estimate submitted, our review will include the parts and labor adjustments if warranted. We will review parts and check parts prices, check the availability of aftermarket, remanufactured and LKQ parts.
Phone Claims (Small Losses)
- Upon request we can handle some losses via phone. We will get the insured or repair shop to send photos of unit’s 4-corners, photo of serial or pin number along with damage photos to our office preferable via e-mail. Due to our experience and knowledge of repairs, we will be able to write a repair estimate on small losses just by the photographs.
- If the unit is at a repair shop we can also review the shops estimate and make recommendations to shop for anything they could have missed or an item that past experience warrants checking.