Some Adjusters Starting to Be Helpful. I am starting to hear about SF adjusters who are starting to help their claimants to do simplified inventories in order to get 100%. Maybe more adjusters will start doing so, or if we wait long enough, one of the next-in-line adjusters will do that for each of us eventually. I refuse to do a detailed inventory and I want my 100%. I want all of us to get 100% of all our coverages, across all insurers.
Adjusters Changing Inventory Line Items. Also heard from someone whose adjuster took her mom’s 1 day- old TV line item on her inventory and changed it to 10 years old in fair condition. They have since resolved it, but one must stay vigilant. If you are doing an inventory, scroll down for reminders.
AAA – After the Dave Jones announcement, they were offered only 50% contents limits without inventory; understandably, they were very upset. However, the inventory policy has apparently been simplified: They only require categorization itemization. Upside: simpler. Downside: as many of the AAA insured are underinsured, the emotional opinion is that they shouldn’t have to do an inventory at all. Also, they would still need to do an itemized inventory to claim a casualty loss for the IRS (but that’s true for any federally declared disaster survivor who wants to claim a casualty loss; as a reminder, federally declared disaster survivors do not have to claim any casualty gains from contents insurance payments—remember never to take any tax advice from me. Always consult a qualified cpa or tax advisor.).
Inventory Reminders. If you are choosing to do an inventory, pls remember:
- You don’t have to use their online tool.
- In addition to the other columns, have a column for condition and YOU determine condition.
- You be the first one to put in depreciation.
- Put in the replacement cost, not what you originally paid for it. What it would cost to replace the item or equivalent now, at full retail (not sale) price.
- Include Sales tax on full value, using the tax rate in the zip code where your house was.
- Most folks undervalue their own belongings because they are honest and humble.
- Try to remember as much as you can so that you can exceed your policy limit by at least 20% in order to get your 100%
- Be vigilant and review what they send back to you.
- Other hints are posted on the United Policyholders site and on elsewhere on this list (see Personal Property Spreadsheet/Tips/Depreciation)
Neighbors Together SR does not provide any advice or endorse any service provider or agency.
October 2017 Northern California Firestorm: Tubbs Fire in Santa Rosa: Coffey Park; Fountaingrove (Hidden Valley Estates (HVE) is lumped with FG); Larkfield-Wikiup-Mark West-Riebli; Rincon Valley-Deer Trail-Calistoga Rd; Bennett Ridge (Nuns/Annadel Fire) . . . See more . . . »