Adjusting Services
Contents Evaluation & Documentation
Personal property evaluation and documentation and Business personal property evaluation documentation
We have experts on staff that evaluate and document all damage to personal and business personal property. We work to maximize the claim within the confines of you policy by negotiating directly with your insurance company to make sure all is documented correctly.
Contents Evaluation and Documentation
After a fire or flood, the building is only half the claim. The other half is everything inside it: furniture, clothing, kitchenware, electronics, tools, toys, books, holiday decorations, the contents of the garage and the basement. For a business, it is desks, computers, machines, inventory, and supplies. This is the part of the claim that most policyholders give up on, because listing every item in a house with a description, an age, and a replacement price takes weeks. Michaelson & Messinger does it for you.
How Contents Coverage Pays
Most policies pay contents in two steps. First, actual cash value, which is the replacement cost minus depreciation for age. Second, the holdback, which is released when you replace the item and show the receipt. Carriers rely on policyholders never finishing the list and never claiming the holdback. A well documented inventory can double the contents settlement compared with the carrier’s own rough estimate.
Personal Property
- Room by room walk through with photographs of every item, including what is in drawers, closets, and cabinets
- Sorting of items that can be cleaned and restored from items that must be replaced
- Description, quantity, age, and current replacement cost for every line
- Identification of scheduled items and sublimits for jewelry, art, collectibles, firearms, and cash
- Tracking of the replacement cost holdback so the second payment is collected
Business Personal Property
- Furniture, fixtures, equipment, and machinery
- Computers, servers, phones, and software
- Inventory and stock, including perishable goods
- Tenant improvements and betterments in leased space
- Records, files, and the cost to recreate them
Why It Matters After a Fire
Smoke damaged contents are the most disputed part of a fire claim. The carrier wants to clean and return items. We test for soot and odor, document what cannot be saved, and price it for replacement. When the garage, the basement, or the attic is a total loss, we build the inventory from photographs, receipts, and your own recollection, and we know how to present it so the carrier accepts it.
Part of the Whole Claim
Contents documentation is included when we adjust your fire, water, storm, or theft claim. It can also be hired on its own if you are handling the structure yourself or working with another adjuster. Call 630.654.2600 to talk it through. The consultation is free.
Frequently Asked Questions: Contents Evaluation & Documentation
What is the difference between actual cash value and replacement cost?
Replacement cost is what it costs to replace an item new today. Actual cash value is replacement cost minus depreciation for age and wear. Most policies pay actual cash value first and release the difference, called the holdback, when you replace the item. We track the holdback so the second payment is actually collected.
Do you inventory items that were destroyed and cannot be seen?
Yes. We build the inventory from photographs, receipts, bank statements, and your own room by room recollection, and we know how to present it so the carrier accepts it.
How is depreciation calculated on contents?
By age and expected life. A five year old sofa with a fifteen year life loses about a third of its value. The carrier pays the depreciated amount first and the rest when you replace it. We track both payments.
Do I have to replace items to get the full amount?
Yes, on most replacement cost policies. You receive actual cash value first and the holdback when you show the replacement receipt, usually within one to two years. We track the deadline so nothing is forfeited.
Are clothes and household goods really worth claiming?
A family of four typically has thirty to sixty thousand dollars in clothing and household goods. Most carriers pay a fraction of that without a detailed list. The list is the claim.
Can smoke damaged furniture be cleaned instead of replaced?
Sometimes. Hard surfaces clean well. Upholstery, mattresses, and anything that absorbs odor usually cannot be saved. We test items and document what fails so the carrier pays to replace rather than clean.
What about my business inventory and equipment?
We inventory furniture, fixtures, computers, machinery, stock, and tenant improvements from your records and photographs, and we separate what is yours from what belongs to the landlord.
