Insurance To Value
The definition of aggregate in Webster’s Dictionary is defined as "taking all units as a whole." In the insurance world, the term aggregate is used to place a total value of all personal property located in home. In most cases, the total value of a policyholder’s personal property (referred to as Schedule C in your policy) coverage is determined strictly by using a fixed percentage ( 50% to 70% depending on the carrier) of the replacement value of their Schedule A dwelling (bricks and mortar), a value that is determined by the insurance carrier. Since AVI began providing personal property valuation and appraisal services in 1998, we have found that over 70% of our clients Schedule C contents value is dramatically undervalued. Why? Because the value of the contents (artwork, furnishing, clothing, collectibles, silver, china, crystal, etc.) exceeds the dwellings fixed percentage value used to underwrite the coverage. Moreover, we find that insurance policy limits by classification of risk such as jewelry, fine art, silver are equally inadequate. Using your AVI inventory, our specialists create an aggregate valuation of your property, using replacement cost comparable valuation. In other words, we determine the total value of your personal or business property, allowing you to align insurance values accordingly. We can also provide fair market values for other purposes such as estate planning, charitable gifting and property settlements.