Suncorp has more than 50 years of experience providing insurance costing for all types of asset classes – commercial, residential, industrial, and municipal – allowing property owners and corporations to properly insure their assets to value.
Insurance to value means insurance that will cover the replacement cost of property and assets in the case of fire and other major perils.
Why insure to value? Because post-loss is not the right time to discover the replacement costs of your property.
In 2015 the global property protection gap – the difference between the current insured value and the actual replacement value of property – was $221billion USD.
Insurance to value requires an up-to-date valuation of what’s insured – simple. What’s not simple is valuing that insurable asset correctly.
To insure to value, properties and assets have to be accurately and regularly appraised by appraisers with extensive experience in valuing those asset classes.
Suncorp is recognized as one of North America’s most experienced and diversely qualified insurance appraisal firms, and has been valuing assets and property of all types, across every industry, for over 50 years.
Buildings are one of the most underinsured assets and the asset class that is most often damaged, destroyed or the subject of an insurance claim. An up-to-date and accurate valuation is the first step toward lowering the risk of underinsurance for buildings of all types.
We annually appraise $16 billion dollars’ worth of church property.
Suncorp is one of the largest providers of appraisals for religious properties in North America.
Valuations of site improvements are important and are often overlooked as properties are developed, upgraded and repaired. Site improvements can represent significant insurable costs that need to be considered when looking at the replacement costs of properties.
From runways to fountains; have you considered site improvements in your replacement cost?
Machinery and Equipment
Valuing machinery & equipment requires specialized expertise, particularly in industrial settings. Suncorp Valuation’s broad industrial experience means you’re in good hands.
Our clients come from mining, power generation, telecommunications, high-tech, fabrication and many other industrial sectors.
Machinery and equipment valuations are important for:
- Insurance Placement (insurable replacement costs)
- Purchase Price Allocations (“PPA’s” – ASC 805, IFRS 3, IRC 1060)
- Asset Impairment (ASC 350 /360, IAS 36)
- “Fresh Start” Accounting (ASC 852)
- Due Diligence – possible purchase / sale of a business and / or its tangible assets
- Federal Tax Planning (IRC 704(c), 861/864(e))
- State and Local Tax Planning (ad valorem property tax issues)
- Financing / Leasing (asset based lending / collateral financing) Internal Planning / Management Consulting
- Cost Segregation Studies
Suncorp is one of North America’s most experienced machinery and equipment appraisal firms.
In the unfortunate event that you’ve sustained a property or asset loss, you may need a post-loss valuation.
Post-loss valuations are used to determine if the insured original sums are fair and reasonable, or to place a value on the assets at the date of the loss within the insurance policy wording. In a post-loss situation, our team provides estimates of insurable values as they were pre-loss and provides a valuation report based on the best available information.
With over 50,000 appraisals completed, trust Suncorp’s appraisers with your post-loss valuations.
“When the Public Sector Accounting Board (PSAB) issued new financial reporting guidelines, PS 3150, which require Canadian Municipalities to record capital expenditures as capital assets and to amortize them over their useful life, we utilized Suncorp Valuations to successfully comply to the standard. The level of service was exemplary and we continue to use Suncorp Valuations for all our valuation needs.”Deborah Tracogna