How to Value Contents After a Fire with Your Insurance Company

Published on November 8th, 2022

Part of the aftermath of a house fire includes dealing with your insurance company, your insurance company's adjuster, and the process of valuing your personal property or the contents of your home.

Depending on what level of home insurance you have and if your insurance policy covers personal property, you will be asked to provide a personal property inventory list.

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Throughout this article, we will discuss the claim process for most insurance companies and how they come up with the replacement cost value of your personal property.

Starting the Claim Process with Your Homeowners Insurance Company

Working with your insurance company's adjuster on your insurance claims will start you off in the right direction. Most homeowners insurance policies will provide compensation or replacement cost value of your personal property loss.

The best thing you can do is to start a list of your damaged personal property and other personal items by working on an inventory list.

What To Include on Your Personal Property Inventory List for Your Insurance Claim

Fire damage typically isn't limited to just one room. To ensure a maximum settlement within the bounds of your homeowners policy the best thing you can do is to have an up-to-date and accurate list of your personal property.

If you don't already have this, you should start a list for your insurance adjusters. The property damage claim process will look for as much detail as you can provide about items in all the rooms in your home, including your personal property items.

Keep track of new purchases, items with sentimental value, and anything else of value within your home.

A good rule of thumb is to try to provide at least one or two of the following things about your personal property that has been damaged or destroyed.



• A photo or video of the item
• Cost of the item at the original purchase, including providing receipts.
• The location of purchase of the item, such as a department store.

When an item in your home costs more than $100, such as electronic items like a computer, TV, or appliance, it's important to get as much money as possible to cover the replacement cost of the damaged property.

Keeping your information about these types of items and other personal belongings in an accurate and tidy manner will make it easier for the insurance adjusters who handle claims to process your request. We suggest keeping track of these purchases and property loss in a three ring binder or using a price scanning app for a less time consuming process.

Replacement cost values of your item as it was pre-loss can be different than what you receive in a settlement. If you have an ACV policy, you will most likely have to negotiate the contents coverage portion of your settlement for less depreciation with your insurance adjuster.

A lost item's value can be negotiated with proper research and a history of the purchase price. If you need professional help with a contents coverage claim, reach out to someone who has experienced a house fire in the past or ask the fire department if they have someone experienced they can recommend to help with a claim.

For more information about house fires, smoke damage, and a loss claim, be sure to follow our blog.