lkq analysis

In-House Testing

Details Make the Difference… When It Comes To LKQ (Like Kind and Quality)

We are often called upon to determine the cost to replace damaged or stolen equipment with equipment of like kind and quality.

The term ‘like kind and quality’ can be applied in different ways, depending on the insurance policy. One policy’s definition may dictate a new replacement of the same model of equipment as involved in a loss, or currently comparable to it. Another policy’s definition may dictate that the replacement cost needs to be based upon used or refurbished equipment if the loss related equipment was used.

Whatever the LKQ definition is, we communicate with our client to identify the policy specifics when making recommendations.

We provide consulting services on all types of hi-tech losses, including:

  • Fire & Smoke Damage
  • Water Damage
  • Mold Damage
  • Theft
  • OTR (Over the Road) & Transportation
  • Commercial & Residential Property
  • Terrorism Related Losses
  • Post-Disaster Losses
  • Virus Losses, Data Losses & Data Deletion
  • CAT