You Would Never Dream That A Fire, Flood, Tornado, Storm, Or Theft Would Hit Your Business Until It Happens!
That's Why You NEED A Certified Inventory Appraisal!
Is your business insured for Actual Cost Value (ACV) or Replacement Cost Value (RCV)? Do you REALLY know?
If your business suffers a loss and the policy is for ACV, did you know you could lose approximately 90% of the fair market value of your inventory and/or its equipment? Scary thought isn't it! This is the #1 reason why business owners request a Certified Inventory and/or Equipment Appraisal.
In order to file an endorsement for RCV, the insurance company requires an itemized and documented list of the equipment and/or inventory and a Certified Appraisal to substantiate the current fair market value.
Can you really afford not to know what your inventory and/or the equipment is really worth?
Don't wait until you have a loss to find out if your policy is for ACV or RCV. It may be too late!
If you conduct monthly, quarterly, or yearly audits of your inventory, realize that the individuals taking
the inventory are not independent. I'm sure you've wondered from time-to-time, did they really calculate and include all of the inventory? You really have no way to know unless you obtain a Certified Appraisal consistent with the data collection and reporting of USPAP. An SBA loan requires an independent third party appraisal of the inventory. Isn't it worth your time and in the best interest of your business to know the fair market value of your inventory? Sure it is!