Last updated 2023-01-12
U-bilt vehicle total loss settlement overview
The total loss settlement on a u-bilt vehicle, also known as a home made vehicle, is based on its actual cash value (ACV), including its covered equipment.
Evaluation resources
U-bilt vehicles are often customized and unique in nature. This presents a significant challenge in developing an accurate ACV.
The ACV can be determined using
- Vehicle Valuation report Specialty Services department
- print ads
- internet websites, or
- independent appraiser with manager approval.
Not required
A lien search is not required, because a u-bilt vehicle does not have a vehicle identification number (VIN).
Vehicle's coverage
A or exposure owner must be aware of how the vehicle is insured. that is a
- plate policy
- declared value, or
- liable third party claim.