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ShermaninCO
USA
40 Posts |
 Posted - 02/10/2003 : 14:00:11
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Clayton, I agree with your approach. But, I would note that in view of today's economy that current 'shopping habits' may not be an accuate determination of LKQ of items that were purchased during better times. Speaking from experience, I was totally broke when my claim came about and the damaged items were purchased during much better times.
We must exercise caution here in not unintentionally creating an advisarial postions with the insured. In our case it was handled very tactfully. Though I can see how it might have come out much differently. |
Bill Sherman
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CCarr
Canada
1200 Posts |
Posted - 02/10/2003 : 14:09:36
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Bill, I meant different than the way 'it' came out. What I mean by shopping patterns is basically as you review clothing and furniture, you get a feel for whether the person had 'designer labels' and 'high end' furniture, or whether it was good quality from major retailers, or whether it was average quality from mass retailers, etc.
Often a closet in a totally burnt out home, will have a full rack of clothing, which on first glance is a total and hard to distinguish. Regarding cottons or synthetics - see a chapter on this in the "Fire Scene Investigations thread". With very few exceptions, even with a melted mass of plastic hangers a/o synthetic fiber clothing, necks and their labels are normally distinguishable. Same approach applies to hard and soft furniture, veneers will be evident as will solid wood items. This is part of what my suggestion of observing shopping patterns related to. |
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Newt
USA
657 Posts |
Posted - 02/10/2003 : 14:27:07
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Obsolete items could be a problem, some times people have obsolete items that have no value except to the insured. There are provisions for such items and consideration should be given. Then we get into quality. Product quality changes over time, some changes occur in products that are popular, seems like the more they sell the poorer the quality. We have no control over that, so like kind and quality is not always possible. This is true with one of a kind copyright items. The insured probably wouldnt know this and I wouldn't mention it. It wouldn't help matters to tell him his favorite whoopy cushion would be a piece of junk should he replace it.
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ChuckDeaton
USA
373 Posts |
Posted - 02/11/2003 : 21:48:02
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| Lately I have started to remind insureds that the handling of a contents claim will be quicker if the intial list is made in Excel and emailed. I then build a spread sheet around the intial entries that calculates line item depreciation based on age and condition. I have several built Excel spreadsheets. Email me and I will send one. |
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Newt
USA
657 Posts |
Posted - 02/12/2003 : 06:50:24
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Chuck: I got the Scope info, I put it in the file and I am making a CD with nothing but forms ,ROR,LOD,ALE, etc. I would like the spread sheet if you get time.
I am in the middle of the NFIP program now, but I will need to study your system too.
I was into Inland Marine, I got through that and need to go back for another dose.
All these policies are running together and only experience will seperate them in my mind.
I know I will have to read every one I deal with, Too many statutes and carriers to deal with..
newt@webshoppe.net |
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ShermaninCO
USA
40 Posts |
Posted - 02/12/2003 : 08:01:03
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| Chuck, I agree that most insureds in this day and age are computer savy and can do contents list in spreadsheet. Assuming thay have computer to work on. I did mine in a speadsheet but adjuster only wanted printout of it, go figure. Luckily I have mutiple computers, because my loss included all my business computers except my laptop. I may be a little unusual I have 2 five port hubs and a minimum for 3 computer online at all times. sometimes as many as seven for just my wife and I. But, anyway if the insured can enter the information into a speadsheet it work sure save transcription time. I type with six fingers so it would take me a while or have to pay someone to transcribe for me. Could you send me a copy of your formats to compare to what I had done before. wsherman@qwest.net |
Bill Sherman
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How Do I Handle? (Contents Losses)
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