Insurance

The value for insurance purposes is based on the cost of reconstructing a building in the vast majority of cases, but there may be exceptional cases which may impose an architectural reproduction cost when a building is classified as heritage. Subsequently, it also is possible to establish the depreciated cost. Theses values make it possible to respond to specific insurance regulation clauses, including the proportional rule when applicable.

With regard to equipment, the replacement cost must be established as new, taking into account what is available on the market during the evaluation. If this is not the case, the equipment must be replaced with an item that is as comparable as possible, currently available on the market. When it comes to specialized equipment custom-designed by a company, the experience of our equipment evaluators comes into play when reconstructing proof of loss in the event of a disaster.

Over the years we have developed tailor-made reports to meet the needs of industrial, commercial and institutional clients to enable their insurance broker to better represent them to insurers.

For example, for sites that have several buildings, we present an executive summary in which we present an overall plan, in order to clearly identify the following points:

• Identification of the number of each building – Its use at the operational level
• Sprinklered building or not sprinklered building
• Wood, steel or concrete structure
• Distance between each building, in order to identify fire zones.

Linked to this overall plan, we present a summary table of values ​​identifying the new and depreciated reconstruction costs of each building and the new replacement costs of the equipment, which constitutes an overall analysis tool.