NBIS utilizes the latest information technology and qualified network of buyers in order to salvage contractor’s equipment claims whenever possible. The total value of 1st party claims can be significantly reduced through a “hands on” salvage and recovery process that begins during the earliest stages of the investigation and adjustment of a claim. Claims costs are reduced on equipment deemed to be a total loss, as well as high-value component parts that can be salvaged through the NBIS network of salvage buyers who often secure bids at better than market values.

In each instance involving equipment with salvage potential, the subject equipment is placed on the market for viewing by a number of qualified salvage buyers. NBIS utilizes a closed bidding process to ensure that the optimal amount of money is obtained for each piece of equipment it salvages. Each piece of equipment is offered to the market for a period of two weeks. Within that time, potential buyers may request additional information or make arrangements to view the unit. Once a buyer has won the bid and payment has been processed, the buyer is then responsible for making arrangements to load out and transport the equipment.

The 13 years of NBIS Heavy Equipment Industry expertise, combined with the ‘Best-In-Class’ process and industry relations, delivers added value to end-user insured customers and their agents/brokers.