How long will it take ICDR to prepare my contents inventory?
The entire inventory process from start to finish will require 12 weeks to 6 months depending upon the circumstances of your claim.
Do I have to be involved in the inventory process?
This is your contents claim, and your involvement contributes to the accuracy of your inventory. We prefer that you at least review, age, and sign off on your contents inventory before it is submitted to the insurance company for consideration.
How much will this contents inventory cost?
ICDR offers a range of contents inventory services, and without knowing the extent of your loss and/or the circumstances of your claim we cannot quote a specific price. However, you may contact ICDR directly to schedule an appointment or teleconference with our claims manager, Brandi Hollibaugh, to get an estimate of cost for the specific inventory services you need.
Who will pay the ICDR fee?
You, the policyholder, are responsible for submitting your contents claim, so the ICDR costs are your responsibility. However, you may want to check with the insurance company claim representative to see if they will cover this cost as a claim expense or under other policy coverages for claim preparation.
Why am I asked to age my contents inventory?
The age of a contents item is one of several factors which might be taken into account in the determination of actual cash value. Actual cash value can be calculated as replacement cost less depreciation, so a five year old sofa would be depreciated more than the same sofa that’s brand new.
Will my insurance company agree to pay the total replacement cost (RCV) and actual cash (ACV) value of the inventory ICDR has prepared?
It depends on the insurance company. The ICDR valuations are based on independent verification and our decades of experience in the business of evaluating contents inventories. The valuations we provide are fair, reasonable, and arguable.
When can I collect the withheld depreciation of my items?
You have to replace the item in order to collect the withheld depreciation. Save your purchase receipts, match each item to the inventory line item number and submit the receipts to your insurance company. You have 180 days after the ACV has been issued to make claim for withheld depreciation.
What can I do if I believe that some of my contents items have been under-valued by the insurance company?
The insurance policy cites a provision for resolving disputes over loss, damage, and/or valuation. Please click here to learn more about the appraisal provision.