Of course, you have insured your buildings and equipment. But what about the insured value in your insurance policy? Can you be sure that your possessions are not over-insured or under-insured? In short: is your risk-management all right?
A loss will cause damage to your buildings or equipment that could cause disputes over your insured values. Moreover, the payment you will receive for older possessions will be lower due to depreciation.
You can avoid these problems with a fixed insurance value. In case of damage, an insurance valuation guarantees business continuity. After all, in the event of a loss you want to be properly indemnified.
Why valuing buildings?
Basis of valuation
The basis for insuring a building is its Reinstatement Value. In many cases, this is unconsciously ignored. Instead, the purchase value, the historical cost, the building cost or the current value are used. In all these cases, the risk of underinsurance is very high. An objective valuation excludes this risk.
Standard indexing through ABEX index
A standard indexation annually induces a cumulative increase of the insured value. After a couple of years, the Reinstatement Value (= the cost for replacing buildings and machinery in an identical way by a new building or new machinery) is likely to deviate considerably from the actual value to be insured. Because a general standard index percentage may be too high for your building, the risk of overinsurance – whereby you pay too much premium – is real. Periodic valuation (subscription) always guarantees the correct insured value!
Why valuing machinery and equipment?
Basis of valuation
The value basis for insuring machinery is the Replacement Value as New. This is the amount, without possible discounts, that would be required after a loss event to purchase an equivalent alternative.
An independent and objective value judgment
As market leader, Troostwijk values all kinds of companies and institutions. As an independent and objective valuer, we carry out valuations all over the world.
Reliable and clear reporting
Troostwijk-Roux Expertises guarantees a reliable, up-to-date valuation report and ensures a stronger position if you are unexpectedly affected by a loss.
Experienced and skilled valuers
Our valuers are registered and/or certified with RICS, REV, TEGOVA, etc. … Each year they participate in continuous education programs through external and in-house trainings.
After the purpose, valuation basis and reporting format of a valuation assignment have been identified, the financial component and the execution period are discussed. Upon our Principal’s approval, the valuation process is started.
Troostwijk-Roux Expertises uses valuation systems that have been developed in-house. This contributes to the efficiency of the valuation process and ensures control over the entire valuation process. At the same time, uniformity is guaranteed by the report generators, calculation models and supporting data included in the system.
During an insurance valuation, our specialists will carefully record the specifications required for an analysis and value judgment. Based on, among other things, the property characteristics, value-influencing factors, research and market knowledge of our valuers, we substantiate a valuation which is then recorded in a report.