An international manufacturer of residential room air temperature, quality, humidity control and security control systems required an insurance valuation of the plant and machinery located at one of its’ UK facilities.
The assets included highly complex electrical testing equipment and a combination of automated and manual assembly machinery. A site visit was carried out in order to gain a deeper understanding of the equipment physically on site and how the assembly and testing process was located within each area of the facility.
Our approach considered the reinstatement cost new of the equipment in place, any potential technological obsolescence and any additional costs that would be associated with asset replacement. In particular the costs associated with the design and installation of electrical testing and assembly lines.
The inspected valuation report provided a schedule of the machinery and equipment on site with items of significant reinstatement value individually assessed, this mitigated any risk of under or over insurance, with accurate asset valuations which can be maintained through periodic revaluations.