Contents Management Services and Products for Claims
When a loss occurs to either personal or commercial property, typically buildings such as houses or retail or industrial commercial buildings, the damage to the structure is one part of the loss. Another part is made up of damage to or loss of items which were inside the structure when the loss occurred.
Contents are often a major challenge. Unlike the structure itself, items within are not a fixed part of the building, but come and go as purchases are made or items are discarded or sold. Developing a list of these items, or an inventory, is a first step. Using yourself as an example, just think how difficult it would be to list all the items in any one room of your home, without being able to stand or sit in that room while you are doing it.
The second part of the contents challenge is determining a value of those items listed in the inventory - type, style, model, make, features, improvements or upgrades, age, original purchase price, depreciation, replacement value, equivalent product, etc.
Some firms have developed specialist skills, tools, services etc. which enable them to perform the task of contents management both effectively and efficiently. These services are often utilized by insurers, just as a normal course of action for such losses, or for selected situations.
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