LawAnswers.com.au - Australia's #1 Legal Community

LawAnswers.com.au is a community of 10,000+ Australians, just like you, helping each other.
Ask a question, respond to a question and better understand the law today!
Join us, it only takes a minute:

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

Discussion in 'Insurance Law Forum' started by Ryan, 29 July 2015.

  1. Ryan

    Ryan Member

    Joined:
    29 July 2015
    Messages:
    2
    Likes Received:
    0
    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?
     
  2. Tim W

    Tim W Lawyer

    Joined:
    28 April 2014
    Messages:
    1,713
    Likes Received:
    402
    What has their insurer said?
     
  3. Ryan

    Ryan Member

    Joined:
    29 July 2015
    Messages:
    2
    Likes Received:
    0
    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.
     
  4. Tim W

    Tim W Lawyer

    Joined:
    28 April 2014
    Messages:
    1,713
    Likes Received:
    402
    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.
     

Share This Page

Loading...