5 Questions to Ask

Before Settling Electronics Claims

Computers. Televisions. Electrical Panels. Well Pumps. Washing Machines.
Any of the electrically powered items that residential and commercial policyholders rely on every day can end up in an insurance claim. Adjusters should be able to settle these claims more quickly and confidently by having the answers to these questions.

Question 1

What Are The Specifications, Ages, And Types of Claimed Equipment?

Equipment Details 

When settling a claim for any electrically powered item, get the details. This could affect what kind of expert needs to test it and what equipment or components may be available.

  • Find out brand, type, and size.
  • Obtain specifics on any special features it has, particularly customizable ones.
  • Age could be important because of component availability if repairs are recommended to return the equipment to pre-loss condition.

Average Age of 3 Types of Equipment StrikeCheck Assessed

Large

Appliances

 

 

12 years

Standby Generators

 

 

10 years

Small

Appliances

 

 

7 years

StrikeCheck evaluates hundreds of electrically powered items and specialty equipment types.

Question 2

Was Lightning Confirmed In The Area

If It's the Claimed Peril?

Lightning was claimed as the cause of loss for more than 50% of the electronics StrikeCheck assessed, but direct lightning was determined to be the peril in only 2% of them. Verification reports can remove some of the guesswork by confirming whether lightning was present at the time of loss.

 See the Benefits of Lightning Verification Reports Opens in a new window.

Question 3

Is the Equipment Really Malfunctioning?

Every item listed in a claim should be thoroughly evaluated to confirm equipment is not working as
designed. Sometimes claimed electronics are functioning properly at the time of assessment or need to be restarted to return them to pre-loss condition.

 

29% of assessed electronics were working properly

at the time of assessment

Question 4

Does Testing Confirm The Cause of Loss? 

Determining a definitive cause of loss based on data-driven testing provides adjusters with the information needed to ensure the equipment is damaged and that it’s by a covered peril.


StrikeCheck’s independent assessments determined 29% of equipment was non-damaged, and 12% of damage was caused by wear and tear, which may not be covered in the policy.

Question 5

Does the Settlement Cost Match Market Value? 

Replacements or repairs, whether minor or major, could return the insured to pre-loss condition.

 

Confirm they include Like Kind and Quality equipment priced at fair market value.

Need electronics claim support? 

Don’t feel like you have to answer these questions alone or without data-driven support. StrikeCheck is the nation’s leading damage assessment provider for electrically powered equipment and also offers lightning verification services. Submit an assignment to be able to answer these questions with ease.

Submit an Assignment

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