Owner's liability when a contractor damages tenant property

[James Hedgecock]

I recently had a contractor that disposed on a tenant's personal property while doing a job. the contractor admits fault and wants to compensate the tenant, but the tenant is claiming a value much higher than what the contractor is willing to pay. As the property owner what liability do I have and should I try to help remedy the situation?

[Christine Kankowski]

Contractor has insurance for this purpose.  The fair value is the replacement value of the item if it is something that is easily replaced.   ALso, we require renters insurance, maybe that will cover the tenants info.