Last updated 2023-01-12
U-bilt vehicle total loss settlement guidelines
The total loss settlement on a u-bilt vehicle, also known as a homemade 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 the
- Vehicle Valuation report Specialty Services department
- any printed ads
- internet sites, or
- an independent appraiser (with manager approval).
No lien search
A lien search is not required because a u-bilt vehicle does not have a vehicle identification number (VIN).
Insurance policy
The Claims Representative must be aware of how the vehicle is insured:
- plate policy
- declared value, or
- a liable third party claim.