November 6, 2009 | Stronger32
Does anyone really think there is time to thoroughly adjust contents claims after a catastrophe? In a wildfire-type situation or Cat 5 direct hit, just cut a check…
Does anyone really think there is time to thoroughly adjust contents claims after a catastrophe? In a wildfire-type situation or Cat 5 direct hit, just cut a check…
Comments
I have been on a lot of cat losses. Contents is always second to the building portion of the loss. Just getting the insureds to fill out the inventory forms is a pain. Normally this can take months. My experience and training are once an insured submits the inventory form, you want to negotiate that this is the final and only submission. Once agreed upon I normally do a survey of items for each page to check for duplication. In other words does the insured have 20 TV sets? If all looks normal, I will then move to the next step which is a price sample check.
Run into a lot of duplication when insured has long inventory -- what's the deal with keeping that straight? Room by room?
Room by room will help. Also helps to get the inventory into a spreadsheet so you can do several sorts (by value, by description) to ID dupes.
In CAT situations, we don't spend much time on contents. We just pay. It doesn't seem like the best way, but haven't found another.
Who gets the inventory into the spreadsheet? I don't have tablet to do onsite, and afterward is big pain...