A detailed schedule of fixed assets and replacement costs enables insurance claims to be settled quickly and accurately.
The valuation of fixed assets is essential for insurance purposes. Used for calculating appropriate insurance premiums, it also provides reinstatement estimates in the event of a loss.
Beca offers impartial valuation services specifically for insurance requirements.
Our valuations include asset schedules of buildings, plant, and equipment and assessments of:
- reinstatement costs
- inflationary provisions
- indemnity values
- demolition costs.
Reinstatement is based on the cost of a Modern Equivalent asset. Functional replacement estimates and indemnity values can also be provided. For New Zealand clients, indemnity values are assessed for Fire Service levy purposes.
The asset schedules and associated reinstatement estimates can be used as a basis for an insurance claim assessment. Asset schedules can be ordered or grouped in different formats, for example, fire cells or seismic zones.
Beca’s approach uses a mix of site inspections and desktop updates to suit client requirements and budgets.
Beca has developed a database that enables us to use a modelling approach for clients that have repetitive assets spread across a number of sites. This saves having to visit all sites, and consequently, time and cost savings are achieved in both fees and disbursements.
A cost catalogue maintained by Beca provides quick and easy access to a variety of plant and machinery items, which assists in keeping asset replacement costs as up to date as possible. We are able to integrate this with our cost management team database.
Beca has the capability to provide both building and plant valuation assessments, giving clients one point of contact. This achieves consistency with regards to methodology, approach, and asset designation, and reduces the possibility of double counting of assets.
We have extensive valuation experience across Australasia and the Pacific.