Property appraisal and valuation
We want all our clients to receive the comprehensive coverage they need. Crafting the right personalised policy begins with understanding the value of insured property.
Valuation methodology
The replacement value of buildings and other structures is determined by the same methods used by contractors to develop their estimates and bids, with costs regionally adjusted for local labour and material price variances.
The appraiser will list enough information about the contents so that values may be accurately researched. When needed, a determination of replacement value might involve document review and consultation with knowledgeable plant staff.
Value determination
Building costs are regionally adjusted for local labour and material price variances. Cost sources include publications of building cost information from national and international construction estimating services. The determination may involve a review of facility drawings and other documentation.
Equipment costs are determined by researching original equipment manufacturers’ pricing, historical financial records and third-party pricing resources, to which allowances for shipping and installation are added.
FM Essential
Brokers can offer an additional placement option for manufacturers with medium risk complexity, combining tailored protection with FM’s engineering insight, stable coverage and claims excellence.