05/01/11
Property in the Open & Statement of Values
By: Bobbi Pritchard, IPARKS Underwriter

Seasonal temperatures and summer recreational opportunities welcome community members to fully utilize all the IPARKS Member properties have to offer. It is a good time to take an inventory of your property in the open and review your current Statement of Values. IPARKS Members frequently have property in the open. For example, swings, sliding boards, merry-go-rounds, picnic shelters, fences, gates, picnic tables, grills, drinking fountains, portable toilets, and other similar items.

As it relates to a member's property & liability coverage, please always keep in mind the importance of maintaining and keeping your Statement of Values (SOV) up-to-date. A current and accurate SOV helps to assure that if you experience a loss, your claim will be processed in a speedy and efficient manner. We suggest the following:

• Be sure to contact us whenever you acquire new equipment, vehicles or buildings. Feel free to call, fax, or send an email. You will receive written confirmation from us within 30 days, regarding the change.
   
• In addition, please be sure to review and make any necessary updates to your SOV, as part of your anniversary process each year.
   
• Maintain a comprehensive inventory of member assets that can be submitted to us each year during your anniversary process. This will help us to cross reference documentation, to assure that you are properly covered.

Again, please remember that by maintaining good practices as it relates to your Statement of Values, not only are you helping to assure the most efficient and timely process possible should you experience a loss, but you are also helping to build cost efficiencies and effective use of all IPARKS' resources.

If you have questions or would like to learn more about your Statement of Values, please call Wendy French at 1.888.748.7966, ext. 3136.