An international manufacturer of smart, intelligent whole-home operating systems were seeking an insurance valuation of the plant and machinery located at one of its’ UK facilities. With solutions ranging from thermostats zoning solutions, residential room air temperature, quality, humidity control and security control systems the intricacies of the project required significant attention to detail.
The assets included highly complex electrical testing equipment and a combination of automated and manual assembly machinery. The initial key steps involved a site visit 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 full value including the reinstatement cost of the equipment new, any potential technological obsolescence and any additional costs that would be associated with asset replacement. In particular, the project explored in detail the costs associated with the design and installation of electrical testing and assembly lines.
The inspected valuation report provided an overall schedule of the machinery and equipment on site. While any items of significant reinstatement value were individually assessed. The objective of which to mitigate any risk of under or over insurance. As a result, the work provided accurate asset valuations which moving forwards will be maintained through periodic revaluations.