INSURANCE AUDITS

INSURANCE AUDITS

An insurance audit is a carrier’s way of determining how much risk they actually insured over the past year. Insurance companies that underwrite liability policies must automatically include all the elevators and escalators in a location and only they can decide whether to exclude any equipment or not. 

Liberty Elevator Experts insurance audits assist underwriters by analyzing the quality of the equipment they are insuring and determining if the equipment is performing up to the manufacturer's original specifications. We also determine the level of compliance with any and all applicable codes and regulations and ensure that all required testing is up to date. We perform an extensive review of site conditions, documentation, current conditions, contractor recommendations, and inspector violations to determine a reasonable scope of work and financial impact. 

Elevator insurance audits often uncover deferred maintenance and missed servicing which assists insurers in determining the level of risk taken on by insuring particular clients. Our investigators have a wealth of knowledge regarding product reliability, contractor reputation, expected reliable life cycles of components, and current market value for replacement.

More importantly, Liberty Elevator Experts provides professional expertise after there has been an elevator or escalator accident. We provide complete and thorough accident investigation, the cause of an accident, or professional opinion as to cause, and written reports including all applicable information. Additionally, Liberty Elevator Experts provides an expert testimonial on behalf of the insurance company and interpretation (not legal) of all documentation regarding the accident. 

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