• Set salvage or restoration details

Set salvage or restoration details

1. On the Estimate Items tab, click Items.

2. In the Quick Entry pane, add or select the item you wish to edit.

3. Click Salvage/Restored at the top of the pane.

4. Select a salvage type and amount.

   • Insured

     In reports, the Salvage Amount is labelled "Less Salvage Retention." This amount is subtracted from the estimate's Replacement Cost Value.

     The Salvage Amount must be less than the Replacement Cost Value.

   • Salvor

     This option affects the total cost of the claim to the carrier, but does not have any effect on the final settlement paid to the insured.

   • Abandoned

     This option indicates that the item cannot be used as salvage or that no salvor would buy it.

   • Not Restored

     1. In the Restored Material group, select the material Type.

     

     2. In the Amt. Extracted box, enter the amount.

     The Not Restored option is only available for FEMA flood estimates.

   • Restored

     1. In the Restored Material group, select the material Type.

     

     2. In the Amt. Extracted box, enter the amount.

     3. In the % Restored box, enter the percentage.

     The Restored option is only available for FEMA flood estimates.

5. In the Quick Entry pane, click OK to add the item.