Faqs
FAQs
Asset Verification ā Frequently Asked Questions
What is the most important thing I should know about AVI?
Asset Verification, Inc. (AVI) is the unsurpassed expert in personal property appraisals and documentation of high-value personal property assets for homeowners, churches and business property owners. Established in 1998, AVI is completely unbiased with no financial interest in the assets we inventory. We neither receive nor pay contingent commissions to insurance carriers or brokers nor do we provide auction services. All appraisal activities meet Uniform Standards of Professional Appraisal Practice (USPAP)Ā¹ and IRS reporting guidelines.
I want a comprehensive inventory of my entire property. What is your least expensive service package?
AVI 3D HomeScanĀ is the answer when you want a complete inventory of all your personal property assets and prefer optional appraisals. Because the work is done using a special camera with image recognition software, we can inventory your entire property in a fraction of the time and at a fraction of the cost of other methods. The 3D visual inventory of your property is so detailed, we can actually use it to prepare certified, USPAP-compliant1Ā appraisals either before or after a loss occurs. Contact us for a free consultation so we can help you choose the bestĀ Service PackageĀ for your needs.
How long does the inventory process take?
Timing depends on theĀ Service PackageĀ you choose. For example, if you choose ourĀ All-Inclusive package, on average our team of 2 Inventory Specialists can catalog approximately 3500 square feet per day. Obviously, this may vary depending on contents. Inventories that include large collections of sterling silver, china, or collectibles generally require more time. OurĀ 3D HomeScan service package requires only 1 Camera Specialist and, depending on the square footage of the property, can usually be completed in 2-4 hours.
What must be done to prepare for the inventory process?
Our goal is to make the process as easy as possible. If you have items that you want cataloged and appraised, they should be removed from storage, unpacked if necessary and made available to our Inventory Specialists. Items such as china, silver and crystal do not need to be removed from cabinets. Clothing and other items located in closets will be discussed during the walk-through.
Does the Inventory Specialist require the property owner's assistance during the inventory?
After the walk-through is completed and any special instructions are given, there is no need to stay with the team. We understand that our clients have active lifestyles and our Inventory Specialists are highly trained to work independently.
In areas such as bedrooms and bathrooms, will the Inventory Specialist open drawers and closets?
Our Inventory Specialists will not open any drawers or closets unless they have permission to do so, with the exception of the kitchen and dining room. This will be discussed during the walk-through. Under normal circumstances, most closet areas are documented with digital images or video. If requested, specific high-value items such as designer suits, handbags and evening gowns will be individually documented and appraised.
What about areas in the building that are not included in the finished square footage?
Items you would like cataloged and appraised located in areas such as basements or storage buildings can be included in the project. These areas and associated fees will be explained during our initial discussions and will also be included in the Letter of Agreement.
Does AVI provide any documentation that outlines the services and associated cost?
After weāve agreed to the details, AVI prepares a formal Letter of Agreement for your signature. This letter will confirm the services to be provided, the dates of service, the names of the Inventory Specialists who will be assigned to your project, and the fee and terms of payment.
How long does it take to receive the final documentation once the inventory is completed?
The formal appraisal report and corresponding documents for our All-Inclusive package are uploaded to a secure flash drive and delivered within eight weeks of payment of the initial onsite invoice. Delivery of reports for each of our other services will depend on the scope of the project and will be confirmed in your Letter of Agreement.
How can I keep my inventory reports current when I acquire new assets or dispose of others?
For customers who purchase AVIāsĀ All-Inclusive inventory service, we recommend ourĀ Asset Manager serviceĀ which allows users to add, delete or move items after our initial inventory and appraisal reports are delivered. In addition, users can request new or updated certified appraisals along with a wide range of other reports. For our other services, once youāre a client, we offer many different options for keeping your inventory and appraisals current.Ā Contact usĀ if youād like to know more.
What if I want to inventory my personal property myself and have a few items appraised?
For customers who want a DIY inventory option to use for insurance coverage on their dwelling contents, we offer Inventory Safe. (Coming soon!) Inventory Safe is our DIY service for storing photos and descriptions of every item in your house or apartment in your own account on our secure servers. Imagine how valuable these records would be for a claim if the unthinkable happens- a fire, flood, theft or other catastrophic loss. You can also order Certified Appraisals for just $30 per item.
What if I just want you to appraise a few items?
We all have treasures lying around our homes and places of business that we know have value but up until now had no way to appraise. AVI also offers a simple appraisal service calledĀ Appraise My Stuff. Simply fill out the form to send us photos and a description of your item and weāll expertly appraise it and return a Certified Appraisal within 72 hours. Each appraisal is only $30 and is prepared using the same quality standards as all our appraisals.
What is valuable articles coverage?
Contents coverage on your homeowners or business property policy usually has limits in certain categories on what your insurance company will pay if there is a claim. A valuable articles policy, or schedule, is extra coverage aimed at protecting your individual high-value assets. It usually requires certified appraisals on each of your covered personal property assets as proof of value.
How do I use AVI's services for Estate Planning or distribution?
AVIāsĀ Estate Planning servicesĀ provide our clients with effective tools for the equitable distribution of all personal property assets, including jewelry, to all beneficiaries. Whether youāre planning for the distribution of your assets while youāre still living, or your estate attorney is handling it after your death, AVI has the services and tools to minimize stress and make the entire process fair for everyone involved.
What does it mean to be USPAP-compliant?
USPAP-compliance refers to the Uniform Standards of Professional Appraisal Practice that set performance and ethical standards for certified appraisers. These standards are designed to ensure that your valuations are developed in an unbiased manner to the highest standards in the appraisal industry.
What is Getty Object ID?
Originally developed by the Getty Museum as a standardized system for identifying and recovering lost or stolen art, AVI usesĀ Getty Object IDĀ to record the identifying details of your personal possessions. Itās an inventory process that is highly respected by the insurance and financial services industry.
What does Aggregate Valuation mean?
This term is used by the appraisal and insurance industry to represent the total value of everything that is inventoried. If we inventory your entire property, yourĀ Aggregate ValuationĀ represents the value of all your personal property.