Is Your Business Property Value Current? A Coverage Review Worksheet

List what the business would need to replace

Start with equipment, furniture, signs, computers, tools, stock, and tenant improvements used at your Bargersville or Johnson County operation. Record ownership, location, purchase year, serial number where useful, and a current replacement estimate. Include items at a second site or temporarily away from the main premises and flag them for separate policy review. An old purchase price may not reflect today’s replacement cost.

Separate seasonal peaks and property types

Inventory can fluctuate around busy sales periods, events, or project schedules. Note the usual value and the highest expected value, and distinguish goods for sale from customer-owned property or leased equipment. Our business stock review gives a focused way to track inventory swings. Do not assume every item shares one blanket limit.

Ask about limits and valuation terms

Bring the worksheet to Jennifer Dammeier Agency and compare it with the business property declarations. Ask whether replacement cost or actual cash value applies, whether special sublimits or deductibles affect specific property, and whether the policy includes a coinsurance condition. A coinsurance condition can affect a claim payment if insured values are too low; the calculation depends on the contract and loss. Ask for a policy-specific explanation rather than guessing from a percentage alone.

Keep evidence ready for a future claim

Save dated inventory exports, photographs, purchase records, lease documents, and major equipment invoices in a secure place the business can reach after a loss. Update the worksheet after significant purchases, disposals, or expansion. Browse the Small Business Insurance archive and review business income needs separately from property replacement amounts.

The Jennifer Dammeier Agency serves Bargersville and nearby Johnson County communities. Contact Jennifer Dammeier American Family Insurance with your current policy and details of your situation to discuss available options.

This article provides general educational information, not individualized insurance, legal, or tax advice. Coverage, availability, limits, exclusions, and claims depend on the policy and insurer. Review your documents with a licensed agent and consult other qualified advisors as needed.