Exploring Depreciation of Labor and Materials

In this episode of The Art of Adjusting® Podcast, William Auten and Chantal Roberts navigate the complexities of depreciation in insurance claims, focusing on labor and materials. They kick off with an examination of depreciation, from wear and tear to obsolescence, highlighted by insights from Depreciating Materials Only vs. Depreciating Labor and Materials Together. Discussion points include the importance of detailed planning, accurate documentation, and involving insurance contractors early to streamline claims processing.

Methods to Calculate Actual Cash Value

William and Chantal discuss calculating actual cash value, covering market value, the broad evidence rule, and policy implications. Learn more about the depreciation debate by checking our this blog on the topic of Depreciation of Labor and Materials, as well as insights on the depreciation of labor from the National Association of Mutual Insurance Companies.

Debating Depreciation of Labor in Insurance Claims

The debate on depreciating labor within a claim is evaluated, focusing on legal standards for actual cash value and third-party claims. The hosts focus on clearing up misconceptions and how to form best practices on depreciating labor, overhead, profit, and sales tax.

William Auten and Chantal Roberts offer invaluable insights for insurance professionals and adjusters on the "depreciation of labor" in insurance claims. Episode #39 is a must-listen for those refining claims handling or seeking insights on insurance adjustments.

Additionally, Chantal Roberts' upcoming book, Once Upon a Claim: Fairy Tales to Protect Your Ass[ets], releasing May 11, 2024, provides a deeper dive into claims adjustment. Don't miss the chance to win a free print copy of this essential guide for navigating insurance claim complexities.

For more insights, you might consider a career in liability adjusting or if you're searching for reliable adjusting services, visit Auten Claims Management.

To explore more about Chantal Roberts and her contributions to the industry, visit CMR Consulting.

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