Page 273 - Fire Insurance Ebook IC 57

The Insurance Times

replacement costs less depreciation. The estimate can
be prepared by the surveyor, or by outside repairers and
manufacturers.

If the machinery is simple, or where the damage is minor,
the cost of repair or replacement of machine can be
easily assessed.

However, for complicated machines, or where the
damage is extensive, the los assessment process is
extensive. A detailed inventory of the damage to
the machines and their parts are to be taken, with
the manufacturer's specifications, designs, and
original blue prints.

Detailed photographs may have to be taken or some
machines may have to be dismantled to decide on the
repair or replacement of parts.

If repairs are possible, then the surveyor has to take a
comprehensive estimate of repairs from the engineers,
repairers or manufacturers.

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