Our insurance wants us to do a preliminary inventory that will not count depreciation, and I am not sure if this is a good idea or not. Does it lock us into a certain inventory framework? They say that we can add to the list the same way you would with a full detailed list, but that they would go room by room, and they would count 2 dressers and a bed as an example, room by room and those would have no depreciation. But the subsequent detailed list would have depreciation. I asked if they would put in that list that one of the dressers was antique. The adjuster said they could that would be added to the other list. There doesn’t seem to be a negative to this, but wanted to check first.
Linda Callahan asked 7 days ago 1 Answers
Hi Linda, it sounds like your carrier wants to streamline the process to determine your loss $$ as quickly as possible. This could be a good thing for you initially (less work for a general inventory than a specific, detailed inventory). However, if you do not maximize your coverage limits, then you will want to go with a detailed inventory. You can certainly add to your inventory as you remember things-this is very common.
We have some great resources you can consider for your content claim, including a sample letter asking the carrier to provide your coverage limits:
https://uphelp.org/claim-guidance-publications/depreciation-basics/
We hope that your carrier has provided you with your content advance already and wish you success working with your carrier.
Please login or Register to submit your answer