Property Damage Insurance Appraisal

An insurance is not complete without an accurate property damage insurance appraisal of the property.

“Are you confident that your  property damage insurance appraisal accurately reports all of your insurable property?”

“Do you know how your property’s reported insurable values are determined?”

“Have you kept pace with the change of properties within your facilities?”

If any of these questions gave you a pause, then it is time to consider reaching out to us.

Occurrence of calamity or fire at your facility is something we all rather not think of; it can limit or even stop your business activities. Reality is, it can or may happen, and when it does, you want to stay ahead of the insurance process that follows.

Underinsurance or undervalued reinstatement values of your property may lead to insufficient pay out by the insurance company to recover the property damages. This can result in negative effects for your business or even lead to bankruptcy.

Why a valuation report?

The Valuation Company offers valuation advisory to ensure your property damage values correctly reflect your installed PP&E. An independent valuation report is important when you want to establish your insurance policy. Our valuations for insurance purposes are carried out in accordance with Article 7: 960 of the Dutch Civil Code. The valuation report can be registered in the insurance policy and enables a fine and smooth settlement in case of any damage.

In determining our property damage values, we use two standards of value. Both standards are according American Society of Appraisers (“ASA”) and Uniform Standards of Professional Appraisal Practice (“USPAP”):

  • Cost of Reproduction New (“CRN”)

  • Functional Cost of Replacement (“FCOR”)

Our valuation report serves as guidance for the insurer to determine payable premiums and ensures that you can start to rebuild and replace as fast as possible without endless discussions afterwards.

We provide valuations for Plant, Property & Equipment, being:

  • Real Property, i.e. Buildings, Constructions, Site Improvements

  • Personal Property, i.e. Machinery & Equipment, Vessels, Aircraft, Furniture & Fixture, IT Equipment, Moving Materials, and General Equipment; and

  • Stock & Inventory

The Valuation Company can offer tailor-made approaches that can meet your reporting standards in line with the business unit(s) and facilities of your company.

Business Interruption Services

In addition to the Property Damage insurance, a company can also insure the Business Interruption. Business Interruption insurance covers the loss of income a company may suffer following a disaster or accident.

Where property damage relates to the material side of an accident, the business interruption focuses on the re-building periods, lost profits and client losses. The estimation thereof requires a skilled economic-, strategic- and technical analyses.

The Valuation Company can assist you in the analyses of (i) intercompany dependencies, (ii) supplier contracts, (iii) client contracts (iv) alternative scenarios and (v) reconstruction periods of property. This analysis can be further expressed in estimates of insurable sums.