Content Value Capturing Program

About the Program

Category: Risk and Emergency Management (Best in Category)

Year: 2021

Maintaining an accurate, up to date “statement of values” is imperative to comply with Broward County ordinances and to secure the correct property insurance coverage at the most competitive rates. A statement of values is a declaration to insurance providers identifying which structures and contents Broward County intends to insure. In most cases, the statement of values is a spreadsheet with a long list of structures. Each entry on the statement of values includes the total content value associated with each structure. Broward County’s Risk Management Division Insurance and Contracts Section custom tailored a formal program entitled, Content Value Capturing Program, for capturing and itemizing the value for the contents located in each of the more than 100 Broward County owned structures. The value of the contents and electronic data processing equipment constitute a significant portion of the County’s overall Total Insured Values (TIV) and insurance premiums paid annually by the County. Utilizing the new Content Value Capturing Program in conjunction with a new property inspection program implemented in 2020, the Risk Management Division saved Broward County thousands of dollars by reduced property insurance premiums in 2021.