Property Insurance Loss Assessment

A property insurance loss assessment is a document which outlines the manner in which a particular property [which can comprise of anything] stands the chance of being damaged or broken or disturbed in any way during a process, like transportation, for example.

The document is a result of exhaustive investigations conducted by the insurance agency entrusted with the insurance cover of the property concerned, and the results of the survey are displayed in the property insurance loss assessment report. Care should be taken to represent all the information obtained correctly and in a clear manner.

Sample Property Insurance Loss Assessment

The following is an extract from the Property Insurance Loss Assessment document created by General-Ex Insurance Company for the client Jonathan Wilder.

Date of submission of assessment: 13th June 2012

Purpose of the property insurance loss assessment:

  • To conduct an inquiry into the safety of goods being transported from New York [21, Mapleton Street] to New Jersey [Cherry Avenues, New Jersey], before the insurance amount is finalized.
  • Part of procedural investigations into the method and manner of transfer of household goods. The quoted insurance price of 2 million USD may be subject to change as per the recommendations of the investigating panel.

Investigative team headed by: Jason Murray, with Samantha Robinson, Sam Johnson and Ben Kendricks.

Risks assessed:

  • The property is liable to be damaged during two stages of the transportation process. At the time of loading the property onto the goods vehicles, some amount of damage may be caused due to inappropriate handling by semi-skilled workers.
  • The storage of the goods before being unloaded in the premises of the client’s new location in New Jersey may also cause some damage. Since cargo is not allowed into the city before midnight and before a thorough inspection, this stage of the process must be carefully supervised.

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