Determining the correct insurance amount for the fire and property insurance is a complex and opaque issue, especially in commercial or industrial companies. Determining the correct insurance amount for the fire and property insurance is a complex and opaque issue, especially in commercial or industrial companies. Precisely for this reason the risk a possible lower insurance and corresponding deductions in the case of damage this often, as positions in the areas of building and operating facilities are sometimes forgotten or incorrectly rated. For determining the correct amount, the insurance industry sees two assistance/variants which are presented and assessed in the following. 1 expert principle: assessment a manual/physical inventory and evaluation of individual building and facility positions locally is carried out by a State-vereideten expert.
These values serve as a basis and can in the future by means of one of the Experts issued index according to be extrapolated. Advantages: It is the principle described under 1.1. a very accurate method for determining the correct insurance amount, because every position of the building or facility is separately collected and evaluated. Also the insurer agrees upon request a General under insurance waiver to disadvantages: A valuation on the basis of an expert’s report brings the typically high costs. These are, in particular for medium-sized companies, often not in relation to the cost / benefit factor.
2. value of overhead calculation using the indexes of the Federal Statistical Office in Wiesbaden principle: the insured amount for the position is building or facility made up of the value of things based on insured a basic year E.g. currently 2000 (early 1970 or 1980) and a value of surcharge, which takes into account the price development until today. The acquisition values per year according to asset accounting can this help be used, with the help of the respective price indices (published by the Federal Statistical Office, Wiesbaden) up on the base year or re billed. Example: Sum of the purchase of factory equipment ‘ in the year of 1995: 250.000,-index facility 1995: 94,60% value 2000: 264.271,-benefits: main advantage in this market procedure is quite easy conversion of the assets to the base value, especially if the assets electronically are the companies available. Is calculated at the beginning of insurance the insurance sum according to the variation explained under 2.1. properly, the double value surcharge as pension is consulted for calculating under insurance. Also once a year only the arrivals and departures must be reported after first establishing of a basic sum, accordingly to determine the current insured amount. Disadvantages and dangers: The determination of the sum of insured on the basis of the system directory is in principle a simpler and cheaper method for a company that still brings this variant the valuation also some hazards to be presented briefly below: technical progress is by the Federal Statistical Office not considered remain MLA’s, foreign ownership, spare parts and accessories special conditions, equity services partially ignore, appear trade-in of old machines in asset accounting rule not in the attachment list no assets are identified which may have a separate insurance such as electronics / machinery insurance is the indexes are set up for groups of goods and therefore only averages are C. Mikosch