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Last Post 07/03/2008 8:53 AM by  liljon
Contents SF Calculator
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liljon
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07/01/2008 12:50 PM

    I have an interesting case with an excessive amount  of contents that were destroyed? in an under 300 sf foot room.  Is there a SF calculator out there somewhere that shows a average value for contents. I was wondering if there was one used in Katrina for fast track NFIP settlements. I know contents and pricing is extremely diverse and there could not be a one fits all calc. Just looking to be able to add some common sense to the discussion. Thanks!!!

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    BobH
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    07/01/2008 12:55 PM
    State Farm had a SF calculator for STRUCTURE flood damage, never for contents when I was there 5 months.

    There were instances of people with low limits of flood coverage for contents, and huge piles of damaged contents, where some "approximations" were allowed rather than meticulous detailed itemization of contents. But those content calcs were never based upon SF of floor area in the office I was working.

    What about your insureds duty to show the damaged property, even if it is just charcoal at this point, or debris blown out into the field?
    Bob H
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    Medulus
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    07/01/2008 1:33 PM

    On the recent wildfires, several carriers were allowing square foot calculations for contents cleaning. The range was 1.50 to 2.50 per square foot. It's not the right way to do it, but it makes more sense than using the inflated per item prices we so often see on contents cleaning inventories. If the carrier will allow it, it certainly makes our lives much easier.

    As far as using square footage for contents replacement, that doesn't seem right at all.  If I, as a claim examiner, saw a contents replacement estimate based on square footage I would be sending it back.  I might even be sending it back with a recommendation that the file be assigned to another adjuster.

    Steve Ebner CPCU AIC AMIM

    "With great power comes great responsibility." (Stanley Martin Lieber, Amazing Fantasy # 15 August 1962)
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    BobH
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    07/01/2008 3:04 PM
    Posted By John Babick on 07/01/2008 12:50 PM
    ...an excessive amount  of contents that were destroyed? in an under 300 sf foot room.

    Every carrier has their own process when something looks fishy - and it would go to the Special Invest Unit (SIU).

    There was a recent thread about "recorded statements" vs "under oath" and different carriers do these things different ways.  Typically you get the carrier's OK before doing any sort of recorded statement, non-waiver, etc - you don't "just wing it". 

    I have worked with one Carrier's SIU unit where the process is to explain to the Insd you are helping them to resolve their claim, which is 100% true.  You turn on the recorder, ensure you have their permission to record on tape, and then thoroughly explain the penalty of perjury, define perjury, and that you will be asking at the end of the statement if what they have told you is correct according to the laws of your state, under penalty of perjury. 

    You aren't trying to badger them, or make them feel persecuted, just explaining the process and so there are no surprises, that you will be asking them to state that it is true and correct.  That is how you start the statement.  As you proceed through the statement, you will either be talking to a straight-shooter and you begin to understand how his version could be the truth, or it just makes less and less sense.  And their body language and tone of voice usually confirms that something isn't right. 

    You end off the statement asking if they declare under penalty of perjury that what they have told you is true and correct.  Then you coordinate with your management as to where it is going to go next.

    This kind of road will be more meaningful than value per SF, as we have seen rooms stacked to the ceiling with storage, there are endless possibilities, and it just needs to make sense to you so you feel OK about a making a recommendation.

    Bob H
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    liljon
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    07/01/2008 4:02 PM

    We are way past that stage, this has been done right by the book, all the way up to EUO. To me a flat out denial based on submission, proof, etc. Not the way an interested party is looking at it, I want to educate him a little, as I can't tell him what to do. SF calculator would back up my position that's all all I'm after. Thanks for the input!

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    swink_d
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    07/03/2008 1:36 AM

    Your vague in what going on

    and NO there is not a SF calculator. I do have a spreadsheet with common items you find in each room BUT as far as a SF calculator NOPE

    You may have the exact same stuff in your living room as I have in mine (quantity) but my stuff may be all top shelf solid wood wood and yours may be walmart particle board, my stuff may be brand new , yours may be 10 years old.

    Are you a homeowner, adjuster, lawyer etc.?

    What exactly are you trying to prove or disprove ?

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    liljon
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    07/03/2008 8:53 AM

    Not trying to prove anything, I am an adjuster that was or is looking for an answer to a question. I did not expect there to be a sf calc, but thought that this was a place where if there was one someone here would know. Thanks again for all replies and your help! John

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