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) ,~) Residential insurance customers have the option of claiming higher content values if they have high valued furniture, clothing, electronic equipment, appliances, or art work, The affluence factor calculation, which is described in Chapter VI, is based on the principle that the content-to- structure value ratio increases with household income with or without a project, It can also be assumed that the basic necessities, such as clothing and appliances, and modest luxuries, such as televisions and stereos, make the ratio above 50 percent for very poor households. Apartment and small condominium dwellers can also be expected to keep mostly highly valued items, when space becomes a limiting factor. Determinin2 Content Value, Appraisal of content value requires far more detailed work than structural appraisal. While the depreciated value of a building can be easily approximated through the market, content appraisal is much more complicated, There is little market information that can be used to evaluate the real value of residential or business contents. Used household goods are not universally found in top condition, and then the uncertainty of quality tends to limit the value, Business content inventory is best left to the manager of the facility, When there is a property of major consequence or the manager is in doubt, an insurance appraiser can be contracted to estimate the depreciated replacement value. Industrial and commercial inventory should be valued at the cost to the business for acquisition and processing, Establishin2 Content Elevations, Estimation of content elevation in relation to the first floor of structures is generally only required for synthetically constructed depth-damage functions, as described in Step Six. In other cases, the content location is already considered in the ) V-31