Insurance Claim Personal Property Services

An article by Paul    Comments Off on Insurance Claim Personal Property Services

If you suffer a loss in your home, similar to a home fire or water damage, you must present a listing of non-public property in your insurance company so as to be paid for those damaged items.

In this example, one should look at using an  Insurance Claim Personal Property  company to assist in documenting, valuation and presenting your contents claim.

A policy holder should search for a team of  highly trained and knowledgeable researchers that locate, quote, and substantiate the claimed item’s true Replacement Cost Value (RCV).

Those experts should quote item’s current Manufacturer’s Suggested Retail Price (MSRP), a good way to confirm that the insured’s claim represents and supports the utmost dollar amount they’re entitled to under their policy.

This valuation method ensures that the Insured is claiming the realistic and true value of loss, letting them replace damaged items of their local market, while complying with the terms and stipulations of the everyday HO-3 policy.

Unfortunately, the insurance carriers’ Claims Adjusters will often erroneously base their RCV findings on discount websites, temporary sale prices, and massive volume discount prices. As most Adjusters don’t receive any formal training on accessing and evaluating damages, they rely upon self-perceived knowledge of common costs, erroneous and outdated databases, and their very own want to reduce their client’s financial liabilities.

Always remember, the Insurance Adjuster is employed by the carrier and is obligated to offer protection to the interests in their employer.

By recognizing the Claims Adjusters’ loss of valuation training and their obligation to the carrier, it quickly becomes clear that the load of proof lies with the Insured.

As the Insured’s retained representation, a Public Adjuster must provide a correct and detailed claim of the damages to face a possibility of receiving a good settlement amount.

As with any claim, carefully researched information and using experts and specialists will end in a correct, compelling, and robust document to prove the damages. Personal property claim experts utilize proven and practiced methods of valuation that consistently provide Public Adjusters with settlement amount valuations that exceed expectations.

By prioritizing compliance and accuracy and utilizing backup documentation to enable the review and confirmation of all findings, Contents Claims specialists should provide all parties with the satisfaction of knowing that the claim documents involved truly represent the quantity of loss. This process ends up in less time spent on disputing legitimacy and more time spent on settling the claim.

Experts know exactly what information is required to accurately document a listing of damages, including:

• Substantiating sources
• Adding supporting documentation
• Using proprietary in-house assessment tools
• Researching the replacement value for discontinued products
• Hyperlinking to websites to confirm high value items

Digital Inventory Insurance Claim Experts should prove the real amount of a loss and are trained to ascertain the depreciation of every item to assess its actual cash value.