BUSINESS PERSONAL PROPERTY LOSS ASSESSMENT

“Room by Room”, or “Area Defined” Descriptive List of Damage Item(s), inclusive but not limited to: Furniture, Fixtures and Equipment, inclusive of Stock (Finished /Unfinished). Coding same in a clear uniform depiction or listing, i.e. “Damaged Inventory”. The “Items” are reviewed and inspected, as well as their Packaging, in efforts to determine the “Level of Damage”. The items will be evaluated to determine if they can be Restored (To Pre-Loss Condition/Value). If the items cannot be Restored to “Pre-Loss Condition/Value they will be included for REPLACEMENT VALUE, i.e. COST to REPLACE with Items of LIKE, KIND and Quality. In addition Items that cannot be Restored (To Pre-Loss Condition/Value), will be considered for Salvage Value, or alternatively deemed Total Loss (Having No Value).

The “Damaged Items” to be included will represent the “Damaged Inventory”, same are then coded with specific Measurement, which details the “Quantity” of Items Damaged or Lost.

The “Damaged Inventory” in then “PRICED” or “VALUED”, utilizing the “Original Incurred Cost”, and documented utilizing “Historical Invoicing”, and in some instances various Forensic Accounting methods to further document the “VALUE”. Same again is usually based on the “Original Incurred Cost” of the Property, however, in some instances (were coverage exists), it may be included and valued at “Retail Cost”. In this instance we must also include and document respective “Markup Valuations”. The valuation, in addition to “Cost Pricing”, as well as Costs associated with Cartage and Debris Removal (Total Loss Items), also includes, but is not limited to: Sales Tax, Freight, Shipping Costs, Handling Costs, or Other “Soft Costs”, necessary to restore same to PRE-LOSS CONDITION or alternatively REPLACE same with property of Like, Kind and Quality.

In summary the above reporting represents our “Business Personal Property Damage Appraisal”, which encompass the “Damaged Inventory”. This reporting is combined with various other Supporting Documentation, inclusive of, but not limited to: Photographs, Appraisals, Dealer Inspections and Reporting, Value Documentation, Manufacturer Specifications, etc., and represents our “Business Personal Property Claim”, to be filed under Coverage B. Business Personal Property and then professionally negotiated by PLC, our respective staff and affiliates, ensuring our Client’s “Maximum Insurance Recovery”.

*** REPLACEMENT COST (RCV) LESS DEPRECIATION = ACTUAL CASH VALUE (ACV)

*** Our Loss Assessment Experts will calculate and assist our Loss Consultants in Negotiation of Depreciation Amounts, so as to increase ACV Settlements.

*** In addition our Loss Consultants will also assist you in preparation and filing of RCV Claims, for withheld Depreciation (if Coverage is applicable under Your respective Policy).

*** Co-Insurance (Value, Subject to Co-Insurance Percentage must be Equal or Greater than Coverage Limit), or “Loss Payment” will be subject to Co-Insurance Penalty, (If Limits are Lower than Value, Less Co-Insurance Percent), better Defined as Underinsurance. Our Loss Assessment Experts, will assist our Loss Consultants in Valuing Property, so as to confirm accurate Valuations, and support our Loss Consultants in Negotiating Valuations.