QLD Stolen Caravan Covered by Business Insurance - Who Determines Replacement Value?

[Ryan]

We have had our caravan stolen from a caravan dealers yard. My questions is this: We are told that the caravan is covered under the dealer's business insurance, but what we are not clear about is who determines the replacement value? Secondly, what options do we have if we do not agree with the valuation and/or payout?

 

[Tim W]

What has their insurer said?

 

[Ryan]

What has their insurer said?

We were contacted yesterday and they have recommended a value significantly under what the caravan is worth (based on market value). They have asked us for the value in our opinion which we have sent through. Now waiting further response.

 

[Tim W]

That's pretty much it for now then. Not much to do there but wait.
What you are experiencing here is the black art of Loss Adjusting.

What you do next depends on what their response is to your estimate.