Completing a taxi total loss settlement

Steps required to complete a taxi total loss settlement.

Process

1. Estimator
   1. Obtains an actual cash value (ACV) for the vehicle using WorkCenter (WC).
2. Adjuster
   1. Determines the taxi start date.
   2. Determines the depreciated value of an equipped wheelchair ramp/lift, using the months in service, up to a maximum of 36 months.

      Months in service	Add for lift/ramp
      1	$11,820
      2	$11,640
      3	$11.460
      4	$11,280
      5	$11,100
      6	$10,920
      7	$10,320
      8	$10,080
      9	$9,840
      10	$9,600
      11	$9,360
      12	$9,120
      13	$8,880
      14	$8,640
      15	$8,400
      16	$8,160
      17	$7,920
      18	$7,680
      19	$7,440
      20	$7,200
      21	$6,960
      22	$6,720
      23	$6,480
      24	$6,240
      25	$6,000
      26	$5,760
      27	$5,520
      28	$5,280
      29	$5,040
      30	$4,800
      31	$4,560
      32	$4,320
      33	$4,080
      34	$3,840
      35	$3,600
      36	$3,360

3. Estimator
   1. Adjusts the condition rating in WC, according to the vehicle condition.
      Important: For more information on vehicle condition ratings, refer to the Mitchell user guide. If the vehicle is a rebuild, it must be reflected in the
4. Adjuster
   1. Calculates the downtime, in the event that the taxi driver is not at fault.
5. Estimator
   1. Fills in appropriate fields in WC entering TAXI for body style.
   2. Determines salvage value using the Salvage Inquiry screen.

      If there is ...	Then ...
      enough information to determine salvage value	use the information to determine a dollar amount.
      not enough information to determine salvage value	leave the TAXI field blank in WC, and use 50% of the noted dollar amount.

      Important: If the taxi is for dismantle purposes only, select YES in the Salvage Inquiry field and use the full amount listed.