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Last Post 06/01/2010 1:16 AM by  Ray Hall
Personal Property claims
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cpgelite
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04/28/2010 12:25 PM

    Anyone been approached about handling personal property inspections for a flat service fee plus mileage?

    ddreisbach
    Member
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    Posts:172


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    04/28/2010 8:01 PM

    Need more detail.  What does "handling personal property inspections" include?  What work product are you going to produce? 

    Ray Hall
    Senior Member
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    Posts:2443


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    04/29/2010 12:01 AM

    I have not, but I am ready to start. Can not be very much work involved.

    MBoy
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    Posts:57


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    04/29/2010 10:02 AM
    I worked for an independent firm in the Dallas area that had a minimum fee bil for working property claims. Billing was at an hourly rate subject to the minimum bill. The carrier (excess) liked the arrangement because 90% of your typical property claims came in at the minimum bill. I enjoyed it because it allowed me to work & close the files as efficiently as possible without losing money since we billed actual time, not what it would take a normal adjuster. This arrangement is good for good adjusters.
    DIGITORY
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    Posts:3


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    05/31/2010 2:40 PM
    If you are speaking of a personal property specialist, aka inventory specialist, then I can give much information on the subject, as this is what our firm does.
    PP documentation/valuation is not very simple, as it requires a very vast base of knowledge on contents. If you indeed have years of experience in valuation, then of course, to answer your question, it depends on the "flat fee".

    There are several fee structures common to inventory specialsits:
    $/hour (average is $50/h)
    $/line item
    Percent (%) of RCV (Enserv bills at 3.5%-4.5% of rcv)

    Then of course, there is also the "REMOTE" inventory services, which are less:
    $/line (average is $2.50 per line, ie Enserv & Insurs World)
    Ray Hall
    Senior Member
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    Posts:2443


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    06/01/2010 1:16 AM
    Measurable units. My favorite topic. I still like .45 for washing a small ash tray for smoke damage. But what I really like is pack out and pack back. But my real trip is the large deductible is eat up by the water sucker, before the poor man of the house got home and the man said stick it, I did not get an option to use my own cleaning labor and material.

    $50.00 per hour is reasonable, no 3.5 to 4.5 BS(for a service)
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