Appraisal Report for Insurance

By conducting an Appraisal Report for Insurance with Setape, you are ensuring that the valuation of your assets will be done correctly and accurately.

What is an Appraisal Report for Insurance?

The appraisal report for insurance is a service carried out according to specific Technical Norms and appropriate methodologies according to the characteristics of the asset to be evaluated, presenting replacement values in the event of an claim, whether total or partial.

This service covers the appraisal of tangible assets subject to claims such as: civil construction, machinery, equipment, installations, furniture, computer equipment, vehicles, boats, aircraft, tractors, etc.

What is the purpose of an Insurance Appraisal Report?

Every business manager or individual who has assets that are liable to suffer a claim should be concerned with guaranteeing their assets and, therefore, assessing their assets so that they can be included in an insurance policy with values that guarantee their replacement. A correct assessment prevents the insurance policy from being over or under dimensioned, causing problems such as excessive cost or insufficient coverage in the event of an accident.

What are the services related to the insurance appraisal that are performed by SETAPE?

SETAPE, through its experience of 46 years of activity, has already carried out Appraisal Reports for several purposes such as:

Financial guarantee
Asset Reorganization
Determination of the market value in use
Impairment test

These reports were made for numerous types of assets such as:

– houses

– land

– buildings

– machines and equipment

– boats

– product stock

– furniture

What Methodology will be used?

The main phases are:

Planning
Physical Inventory (where the state of conservation is observed, apparent age, …)
Calculation of additional costs and smaller components, when applicable
Market value research to determine the new replacement value
Calculation of depreciation of the asset

Specific phases for the evaluation for Insurance:

Survey and definition of risk areas
Calculation of the Maximum Insurable Value
Calculation of Electrical Damage, for specific goods
Issuance of the Report

How is the Maximum Insurable Value calculated?

It is the maximum amount to be paid for the indemnity of the claim, being equal to the value of a new equipment when the depreciation of the asset does not exceed 50%, or, twice the depreciated value when the depreciation is greater than 50%, therefore, the maximum insurable amount cannot be more than twice the depreciated amount.

Technical Standards

Setape’s valuations are always carried out with strict observance of all guidelines set by the ABNT Standards – Brazilian Association of Technical Standards and Ibape Nacional – Brazilian Institute of Engineering Valuations and Expertise.

Why hire Setape?

Complete Advisory

The only company that performs all services of valuation of movable and immovable property, urban and rural, valuation of companies, and has support for asset control (fixed assets).

Proven Experience

With 45 years of activities and more than 80,000 services performed, it is the company with the most experience in evaluating the fixed assets market and in economic evaluations.

Qualified Team

It has its own team with more than a hundred professionals from all specialties.

Satisfied Customers

Quality of services proven by its customers

International Coverage

It belongs to the VRG – Valuation Research Group of international valuation companies with service coverage on all continents

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