Depreciation on Disposal Parts

[OM PRAKASH SAHARAN]

Dear friends,

                       Kindly advice if we allow disposal parts then depreciation is considered or not, with reason.

Thanks

Om Prakash Saharan

Surveyor,

Plot No-09, Choudhary Colony,

Behind Marwar Motors, Suratgarh Road,

 Sri Ganga Nagar-335001, Rajasthan

Mo-94140 37111, 99827 22111

[Sekhar subramaniam]

Dear all

               The disposal parts cost is 30% to 40% a guide line. Actually As a surveyor recommended the availability of the secondhand in the market.

              But as a surveyor you calculate the actual cost of the parts available in the local automobile shop OR as per dealers rate less the depreciation [Age of vehicle at the time of accident] less salvage value not exceeding the disposal parts value.

            For example a parts value is Rs. 8,000/= less depreciation 40% @ Rs.8,000/= less Rs.,3,200/= less salvage value Rs.200/= Rs.4,600/ But  presently all the surveyors recommendation 1/3 of New parts value means say.2,700/= But the same parts available in the second hand market around Rs.3,500/=. 

          But no one is recommended the present cost available the disposal parts in the market. The disposal parts value may vary place to place. Also the surveyor can't to know the parts available in second hand market at the time of claim settlement.

          Now day if any claims officer refer with other surveyor he simply say 30% to 40% of new parts cost. very easy give opinion to other surveyor report. They are not mentioned the availability of parts in the second hand market.

         For example the Leyland 2214 chassis assy., available at Namakkal in Tamil nadu Rs.80,000/=. But the same chassis assy., at Tiruchengode @ 36Kms from Namakkal cost is Rs.90,000/= OR slightly more.

         These are difficulty in the motor survey. No any remedy for the recommendation of disposal parts value.

Thanking You all with kind regards.

S.Sekhar. 9443265337

Salem.

          

         

On 27 October 2016 at 09:27, Vasantkumar Surveyor <vasantb...@gmail.com> wrote:

Sir,

I many instances , Insured's requesting  bodyshell replacement with disposal , we allowed normally 30 to 40% of the dealer's cost.

Still it fetch depreciation?

Regards


Vasantkumar Kulkarni
Surveyor/Loss Assessor

CO ORDINATOR UNIT: KALABURAGI

No. 102, GURU KRUPA

Near Shiva Mandir,

Agriculture Layout,

New Raghavendra Colony

KALABURAGI 585 103

KARNATAKA STATE

9986082527

vasantb...@yahoo.com

On Thu, Oct 27, 2016 at 9:23 AM, T. R. VERMA <verm...@rediffmail.com> wrote:

Dear Sir
In my opinion
SURVEYOR should give a choice to insured for replacement of Brand New Parts or Disposal parts.
By using Disposal parts insured can minimize his loss. He should be advised. Sincerely by SURVEYOR.

Then depreciation should be applied on replaced parts.

Please note:
SURVEYOR should allow actual cost of parts weather Disposal or new.

With thanks
T R VERMA

Sent from RediffmailNG on Android

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[Shailesh Shah]

Dear All,

Disposal part is nothing but " Part to Part cash loss settlement" depending upon the age of vehicle. There is no thumb rule of percentage settlement of any part. In my opinion we should check the availability of allowed part in the local market. Disposal part is a part which is repaired and made in condition to use. We must check the actual cost of such repaired part in the market and assess accordingly. Cost should be net amount, no depreciation or salvage should be deducted. We should only take care of proper indemnification. By allowing disposal part insured should not make profit out of it.

Rates of disposal part may vary upon age of vehicle. It also vary from place to place. Here in my location average cost of repaired/disposal  chassis frame of TATA 1613 or 1612 vary from 35000.00 to 50,000.00 though the cost of new chassis frame is nearly Rs. 200,000.00.

This is my opinion.

Thanks and regards,

SHAILESH SHAH

9825042074      

On Fri, Oct 28, 2016 at 8:23 AM, Y MADHU BABU <ymadh...@rediffmail.com> wrote:

Dear friends..

Initially we should advice for New Part replacement. If insured financial Position is not permitted to replace with New one, then we may suggest for Disposal one. It should be always lesser than the cost (after deducting the Dep. + Salvage Value) of New part cost. But the allowed cost is Local availability cost,, subject to Maximum 1/3 rd of New Part cost.

Usually Ashok Leyland FES cost is Rs. 1,13,000.00. But in Local outside Market it is available for Rs. 30,000.00 only. So we may not allow 1,13,000.00/3 = 37,700.00. Because insured is getting it for lesser cost. 

Y.MADHU BABU

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Shailesh Shah

[Dilip Ashtekar]

At such time it is advisible to considered this parts under repairs & let insured may fixed a local make or disposal parts.
​Happy  Diwali.

Dilip. B. Ashtekar
(Surveyor)
Associated Surveyors and Valuers.

From: Sekhar subramaniam <segersas...@gmail.com>
Sent: Fri, 28 Oct 2016 11:17:50
To: Vasantkumar Surveyor <vasantb...@gmail.com>

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