All businesses experience challenges, but for owners of high-value and/or productive assets such as industrial plants, factories, and specialised machinery, knowing the true replacement cost of each asset is of particular importance.
Accurately valued assets are essential for effective risk management, informed financing, and reliable insurance coverage, all of which safeguard the stability of your business. Here’s how:
Insurance Protection: Inadequate or outdated valuations can lead to underinsurance, putting your business at risk of financial shortfall if an insured event occurs. A thorough and timely valuation ensures that your insurance coverage reflects current replacement costs, allowing for quicker settlements and improved risk management.
Financing and Marketability: Banks and lenders rely on precise valuations to assess risk accurately. By providing current and realistic values, businesses enhance their appeal to financiers, potentially securing better terms and the ability to recapitalise, plus it increases overall marketability.
Business Continuity: In the event of a loss, having already developed a complete understanding of your replacement requirements is crucial for timely recovery and resumption of operations. With accurate valuations, business continuity planning becomes more robust, to get you back on track.
At PRFC, we pay attention to the details but think big-picture to build resilience and support the long-term goals of your business. Our global partners offer internationally recognised, independent valuation services to facilitate a comprehensive assessment of your business. We can make certain that your sums insured truly reflect the productive capacity of your assets, and help you identify the best valuation approach to match your insurance and risk management goals.
Are your assets optimally protected? If you’re not sure, give us a call at 628-PRFC!
