Determine value of factory alternative fuel system

Steps on determining the value of factory alternative fuel system.

When this applies

Some taxis have factory built-in alternative fuel systems. If one of these vehicles becomes a total loss, the owner is not paid any alternative fuel transfer cost and is not permitted to remove any part of the fuel system as this would lessen the salvage value of the vehicle for ICBC. TO compensate the owner for the alternative fuel system the estimator must obtain a value from a dealership.

Procedure

  1. Contact an applicable vehicle dealership and request for the dollar difference between a vehicle of that year with and without the alternative fuel system.

    If the dealership...

    Then...

    can provide this information

    enter this amount (plus PST) onto the Total Loss Worksheet – Taxi in the miscellaneous box.

    cannot provide this information
    • ask the dealership for the price of the alternative fuel system when the vehicle was sold new
    • enter this amount onto the Total Loss Worksheet – Taxi, line B (adding it with the other vehicle options), and
    • calculate the applicable depreciation on the alternative fuel system.

  2. Write a note in the comments section.

    Explain how the dollar figure was arrived at.

Parent topic: Complete a taxi total loss settlement