Principal objectives
Providing a service for insurable asset valuation which, in turn, enables:
- The elimination of over or under-insurance problems.
- The possibility of negotiating “agreed values” for inclusion in the additional clauses of the insurance contract.
- The provision of a report with a number of additional non-insurance uses, for example, in processes involved in the sale of assets, company mergers, audits, initial public offerings, asset control, and so on.
Service Characteristics
Two possible methods are available to decide the value of assets included in the report. The one chosen depends on the current condition of the asset and the value that is determined or agreed by the parties to the insurance contract. The two methods are:
- Replacement value (generally applied to the building).
- Depreciated or actual value (generally applied to the contents).
