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Determining Value

/Determining Value
Determining Value 2018-01-10T02:23:18+00:00

Specialised Restoration Services (SRS); always pre-test surfaces to determine which option to choose, and the time required for restoration.

  • Clean; to remove the soil that foreign to the construction of the fabric or surface. – Cleaning is the least expensive option for both insurers and insurance companies.
  • Resurface; provide a new surface over or in place of the old one (refinish, reupholster, paint, Etc.)
  • Replace; provide a new item or an item of comparable value (may be subject to deprecation, depending on policy specifications).

Determining Value;

  • Real value; present market value
  • Appreciated value; antique or artistic value
  • Sentimental value; subjective value

Calculating Depreciation;

  • Original cost (e.g. $600)
  • Replacement cost (e.g. $1000)
  • Depreciation (e.g. 20%)

Depreciation rarely exceeds 50% of replacement.

Determining Responsibility;

Specialised Restoration Services (SRS) responsibility;

  • Preserve the surface or fabric
  • Clean within the limitations of the situation presented
  • Provide reasonable work for reasonable price

This information helps the client and or any other parties involved understand the limitations of the fire loss and the situation at hand.