The Valuation Company provides insurance appraisals for your property damage insurance. Without a professional building and/or machinery appraisal it often occurs that companies are under-insured or over-insured. In the absence of an insurance appraisal, when under-insured, your insurance company may, in the event of damage, reimburse the Actual Cash Value instead of the replacement value for machinery. For real estate, there is a likelihood of under-insurance and you only receive compensation for part of the damage. In the case of over-insurance, the insurance company will pay out the rebuild value and/or new value to fully repair the damage. However, the insurance company will use this as a maximum and not the maximum amount for which the insurance has been taken out. Therefore, in the event of over-insurance, too much premium is paid.
For an insurance appraisal, we apply the Reinstatement Value for real estate and Cost of Reproduction New for machinery & equipment or inventory. We can also determine an Actual Cash Value for assets that are obsolete but for which insurance payment is required.