Page 272 - Fire Insurance Ebook IC 57

Fire and Consequential Loss Insurance

For complex, modern buildings, estimates will have
to be prepared by architects and contractors, but
still surveyors have to carry the responsibilities to
examine such estimates, both as regard to the
description of the damage as well as cost of
reinstatement. He has to make the estimate after
checking all the details, measurements, precise
description of materials, labour charges and
supervision costs.

For buildings that are partly damaged, the surveyor has to
determine the extent of necessary repair. In case of major
repairs he has to take the help of architect or builder.

For both full or partial damage, he has to calculate the
depreciation or cost of betterment.

b. Machinery - The acquisition cost and other relevant
records furnish the value of the machinery. The loss on
damaged machines or equipments is determined by the
cost of repair with deductions for betterment or
depreciation. Total losses are agreed according to

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