Your knowledge of construction and understanding of insurance policies made you a critical member of our team. You have my highest recommendation."
Dave Carley, President
Central Bank of Clearwater
Easily the most challenging part of the claims process for any policyholder is inventorying all of the damaged contents that make a house a home. If you are detailed oriented and willing to roll up your sleeves and get a little dirty here is what you will need to do in order to get all that you are entitled.
The Process:
List It – Every single item in every part of the home, including the attic and crawl space, where the fire and smoke damage occurred must be listed. Count and list each item separately and don't group things of different categories together. Digging through and getting dirty is a must, to do it right. Keep it organized and go room by room.
Identify It – Model numbers, Serial numbers, manufacturers, brand names, etc. – everything that will help identify value is important to record along with the item description. Hundreds of photos should be taken as well during the inventory process to help verify quantity, quality and condition at the time of inventory. Keep it organized and go room by room.
Evaluate It – Can it be repaired or is it ruined? Can it be cleaned or are the stains permanent? If it works now will it work properly 6 months from now? A careful decision must be made about each and every item so that the claim is both accurate and reasonable.
Price It – Each item must be researched to obtain a valid Replacement Cost at today's pricing. Gather pricing documentation as you do this for the adjuster and don't guess about or list what you paid for something, that doesn't matter. ALARM- This step is probably the most important as well as the most tedious. This number will establish the ceiling for your Replacement Cost benefits and if you guess low – you lose the difference.
Age It – An approximate age for every item must be included in the list.
Depreciate It – Most folks leave this step for their insurance adjuster to do. We perform this step for our clients as even a slightly heavy depreciation can cost you tens of thousands of dollars in the final outcome.
Negotiate It – Usually back to the site for a day to walk through the details of the inventory together.
We have specialists who do this every day and are good at it. Please contact one of our personal property claim adjusters if you would like to discuss this your insurance claim. Our toll free number is 1-800-647-2236.
