NAICS Code 524298-12 - Insured Property Replacement Service

Marketing Level - NAICS 8-Digit

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NAICS CODE 524298-12
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NAICS Code 524298-12 Description (8-Digit)

Insured Property Replacement Service is a subdivision of the NAICS Code 524298 that involves the provision of services related to the replacement of insured property. This industry is responsible for providing services to individuals and businesses that have suffered damage or loss to their insured property, such as homes, vehicles, and other assets. The Insured Property Replacement Service industry works closely with insurance companies to ensure that the replacement of damaged or lost property is carried out in a timely and efficient manner.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 524298 page

Tools

Tools commonly used in the Insured Property Replacement Service industry for day-to-day tasks and operations.

  • Estimating software
  • Measuring tape
  • Digital camera
  • Moisture meter
  • Hand tools (e.g. hammers, screwdrivers, pliers)
  • Power tools (e.g. drills, saws, sanders)
  • Paint sprayer
  • Carpet cleaner
  • Air mover
  • Dehumidifier
  • Generator
  • Scaffolding
  • Ladders
  • Safety equipment (e.g. hard hats, gloves, safety glasses)
  • Mobile devices (e.g. smartphones, tablets)
  • GPS devices
  • Computer software (e.g. accounting software, project management software)
  • Office equipment (e.g. printers, scanners)

Industry Examples of Insured Property Replacement Service

Common products and services typical of NAICS Code 524298-12, illustrating the main business activities and contributions to the market.

  • Home insurance replacement
  • Vehicle insurance replacement
  • Boat insurance replacement
  • Jewelry insurance replacement
  • Electronics insurance replacement
  • Furniture insurance replacement
  • Artwork insurance replacement
  • Appliance insurance replacement
  • Musical instrument insurance replacement
  • Sports equipment insurance replacement

History

A concise historical narrative of NAICS Code 524298-12 covering global milestones and recent developments within the United States.

  • The insured property replacement service industry has been around for many years, with key milestones and advancements throughout its history. One notable advancement was the introduction of computerized inventory systems in the 1980s, which allowed for more efficient and accurate tracking of insured property. Another milestone was the development of mobile apps and online platforms in the 2000s, which made it easier for customers to file claims and track the progress of their replacement services. In recent years, the industry has seen an increase in demand due to natural disasters such as hurricanes and wildfires, which have caused significant damage to properties across the United States. This has led to an increased need for insured property replacement services, as homeowners and businesses seek to replace damaged or destroyed property.