What happens when retailers are affected by the weather?
It’s not just us at home making insurance claims for goods impacted by the weather!
With the once-in-a-century flooding that has happened in Townsville over the last couple of weeks, it really has been a time to reflect upon how much the weather can affect our lives!
Mother Nature has the power to dictate our outfit choices, our mood, and the way we live. A huge downpour of rain or a hail storm can result in massive damage to our property, home, car and our stuff inside… but it can also bring a big opportunity as well.
When major retailers are affected by the weather it can be a great opportunity for everyone else to grab a mega bargain. People can replace their own damaged goods with something brand new and fully functioning! These auctions can be a huge help to bidders.
We break down insurance claim auctions and what they mean for the general public. After you finish reading, you’ll definitely be keeping an eye out for the gigantic insurance claim clearances going under the hammer online at Lloyds Auctions!
What is an insurance claim auction?
Insurance claim auctions are where a business, usually a retailer, has had some sort of damage or impact on the area where they stock which means they can no longer sell the goods in store. These are often called ‘salvage auctions’ as they salvage what they can from the damaged stock in order for it to be sold.
These sales vary from small product selections, to massive insurance claim clearances by major national retailers. Often it can be hail impacted vehicles from car yards also!
They make an insurance claim (just like we would!) and the stock is passed on to us to sell on the insurer’s behalf so that they can recover some of the insurance costs. We achieve a fast turnaround and fair prices.
The damage to the area can occur in many different ways including water, smoke or hail. The packaging of the goods may have been damaged in transit or an item might get a dent that is purely cosmetic and that does not affect the performance of it!
A lot of the time, it is simply damage to the carton, box or packaging that has occurred to insurance claim stock and there is minimal to no damage at all to the actual goods! These often include big brand items such as TVs, computers and large appliances that are sold in original condition.
For example, the huge amount of insurance stock we have at the moment is the result of a heavy deluge of rain in Sydney which caused leakage in the warehouse roof and 2cm worth of water come through. In most cases, the water has only wet the bottom of the box and has not even reached the item inside, leaving it totally untouched!
What are the benefits of buying insurance claim stock?
Insurance claim stock can come in all shapes and sizes, from clothing or small goods that are kept on the shelves within a store, right through to large appliances and electronics like whitegoods and computers.
A distribution centre is a warehouse where retailer chains keep their big gear such as fridges, large TVs, washing machines and dryers and they are dispatched from this central point across the country. This is where the high value items are kept, so if a distribution centre is subject to an insurance claim, then it is good news for a bidder!
An insurance claim auction would contain brand-new whitegoods, appliances, consumer electronics, drones, computers that are the latest models of items that are selling in stores right now!
Most of the time these auctions here at Lloyds, are offered completely unreserved and all bids start from just $1. That means brand new, big brand gear is being sold with up to a 70% discount on the retail price, therefore are unbeatable value.
For anything that has been exposed to water, Lloyds personally ensure that the item is in perfect working order. We test and tag every item just to ensure satisfaction and safety for all our customers, so there really is no reason not to bid!
Plus, we are open for inspection seven days a week so you can inspect the goods for yourself and see how minor that dent really is!
Where’s the best place to find insurance claim auctions?
Lloyds Auctions are so often the choice of auctioneer for insurers meaning we have regular insurance claim auctions from a range of retailers.
Right now, we have over $2 million worth of stock up for auction from a major retailer’s distribution centre in Sydney. There are insurance claim fridges, washing machines and dishwashers as far as the eye can see.
We’ve taken two semi-truck loads and one B-double truck load of the stock and there are six B-double trucks still to come… We have had to rent an extra warehouse just to keep up! Big brand products such as Samsung, Fisher and Paykel, Hisense, LG, Miele are stacked to the roof here at Carrara!
In an upcoming series of unreserved auctions, thousands of brand-new products will start at just $1 and sell to the highest bidder at any price. We will be holding back-to-back auctions every fortnight until we get through the stock… it’s looking like at least a couple of months’ worth of brand new bargain opportunities!
Insurance claim auctions are happening all the time as it doesn’t have to be extreme weather to affect businesses. This particular auction is a result of only three hours of heavy rain in Sydney!
You’ll find everything to fit out your home and possibly save up to 70% off recommended retail prices so this is not to be missed! They have proven very popular nationwide, so we encourage you to get in quick, so you don’t miss out!
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