LOUISIANA LEGAL SERVICES
Key Services /
Personal Property
RCV vs. ACV
Contents Claims
Depreciation Disputes
Recover the Full Value of What You’ve Lost
When a hurricane, fire, or water event damages your home or business, the loss often extends far beyond the building itself.
Furniture, electronics, clothing, tools, appliances, inventory, and other personal belongings may be destroyed or seriously damaged.
Insurance policies may provide coverage for these losses, but disputes frequently arise when insurers undervalue property, apply excessive depreciation, delay payment, or deny portions of a claim.
Ketry Law Firm, LLC represents Louisiana homeowners, property owners, and business owners in personal property loss disputes. We review the policy, inventory, valuation methods, and insurer calculations to identify possible underpayments and improperly excluded losses.
02 / OUR SERVICES
COMMON PROBLEMS
Common Problems /
Common Personal Property Claim Disputes
Insurance companies may attempt to reduce personal property claims by:
• Applying excessive depreciation
• Undervaluing damaged or destroyed items
• Using generic or unrealistic replacement pricing
• Requesting overly burdensome inventories or documentation
• Denying high-value items based on policy limits or sublimits
• Excluding items from the claim
• Delaying payments
• Making only partial reimbursements
• Disputing Replacement Cost Value
• Paying only depreciated Actual Cash Value amounts
These issues can significantly reduce what a policyholder receives for damaged or destroyed belongings.
HOW KETRY LAW HELPS
How Ketry Law Helps /
• Review of policy limits, sublimits, and valuation methods
• Review of Replacement Cost Value and Actual Cash Value provisions
• Assistance with personal property inventory documentation
• Evaluation and valuation of damaged or destroyed items
• Identification of underpaid or improperly excluded property
• Challenge of excessive depreciation and inaccurate pricing
• Review of delayed or partial payments
• Direct negotiation with the insurance company
• Litigation when necessary to pursue available insurance benefits
Why Choose Ketry Law /
George Ketry’s background as a former licensed insurance adjuster provides firsthand insight into how insurance companies evaluate and calculate personal property losses.
He understands how insurers apply depreciation, assign values to damaged belongings, review inventories, and determine whether particular items fall within policy limits or sublimits.
Ketry Law uses that insurance-industry perspective to review personal property claims, identify potential underpayments, challenge questionable valuations, and advocate for Louisiana policyholders.
Important Information /
Replacement Cost Value vs. Actual Cash Value
One of the most important issues in a personal property insurance claim is how the policy values damaged or destroyed belongings.
Replacement Cost Value (RCV)
Replacement Cost Value generally refers to the cost of replacing an item at current prices, subject to the specific terms and conditions of the insurance policy.
Actual Cash Value (ACV)
Actual Cash Value generally reflects the depreciated value of an item based on factors such as age, condition, and useful life.
Insurance companies may use depreciation to reduce the initial amount paid on a personal property claim. The difference between RCV and ACV can therefore have a significant impact on the amount a policyholder receives.
Policy limits and sublimits may also affect certain categories of property, including jewelry and other high-value items.
The insurance policy, inventory, valuation method, documentation, and insurer calculations should be reviewed carefully when determining whether a personal property claim has been properly valued.
Louisiana Insurance Claim Handling
George Ketry’s materials identify Louisiana Revised Statutes 22:1892 and 22:1973 as relevant to certain insurance claim disputes.
His materials state that insurers have obligations concerning timely claim handling and good faith, and that issues involving unjustified delays, misrepresentation, or mishandling may create additional legal concerns beyond the value of the underlying personal property loss.
Every claim is different. The policy language, documentation, payment history, and insurer conduct should be reviewed individually.
COMMON QUESTIONS
Questions About
Personal Property Claims
What does personal property insurance cover in Louisiana?
+
What is the difference between Replacement Cost Value and Actual Cash Value?
+
Can I challenge excessive depreciation on a personal property claim?
+
What should I document for a personal property insurance claim?
+
How can Ketry Law help with an underpaid personal property claim?
+
Need Help With Your Legal Matter?
Speak directly with Attorney George Ketry about your situation and learn what options may be available.
