You’ve probably come across other insurance companies that offer many lines of coverage. At FM, we give everything we’ve got to commercial and industrial property insurance. It’s just one way we serve our clients differently.
We want all our clients to receive the comprehensive coverage they need. Crafting the right personalized policy begins with understanding the value of insured property.
The replacement value of buildings and other structures is determined by the same methods used by contractors to develop their estimates and bids, with costs regionally adjusted for local labour and material price variances.
The appraiser will list enough information about the contents so that values may be accurately researched. When needed, a determination of replacement value might involve document review and consultation with knowledgeable plant staff.
Building costs are regionally adjusted for local labour and material price variances. Cost sources include publications of building cost information from national and international construction estimating services. The determination may involve a review of facility drawings and other documentation.
Equipment costs are determined by researching original equipment manufacturers’ pricing, historical financial records and third-party pricing resources, to which allowances for shipping and installation are added.
Global delivery. Timely payouts. Loss prevention. Just a few of the reasons more than one-third of Fortune 500 companies choose to partner with FM.
