future disputes. The insured is left with a
complete understanding of the contents
Full Contents Adjustments
After the inventory is captured, it is
submitted to the insured with a request
to provide replacement costs, purchase
sured or their representative. When utilizing an adjusting firm with licensed
adjusters, all aspects of the claim can be
In lieu of requesting the replacement
costs and ages from the insured, contents specialists can also research the replacement costs with supporting pricing
Contents claims have the potential to exceed
the structure loss. The personal property portion
of these claims requires the same attention to detail
as the actual building claim.
charges from the vendor are appropriate.
These audits successfully reduce invoices
due to improper packing techniques. Adjusters also review the invoices to determine if the charges are appropriate and
can obtain an agreement with the vendor
for a reduced amount. This stand-alone
service can reduce indemnity payments
on nearly every pack out.
The thorough nature of an inventory
investigation by a contents specialist
provides for the proper scope and valuation, and greatly reduces claim disputes.
A contents specialist not only puts the
claims process on the fast track, but it also
helps retain your valued customers with
an outstanding claims experience. K
documentation and ages. This infor-
mation is reviewed and verified by the
content specialists, and any necessary
adjustments are made with supporting
documentation of the adjustments. The
adjusters then apply any applicable cov-
erage limits, calculates the actual cash
value and settle the loss with the in-
documentation, and this information
can be provided to the insured. This will
expedite the settlement of the claim.
Auditing Vendor Charges
A pack out audit service includes a
physical inspection and photos of the
packed out contents to determine if the
Chuck McMartin is President and CEO
of McMartin, Wasek & Associates,
Inc., an independent adjusting company serving Michigan and Ohio since
1998. He may be reached at chuck.