Page 275 - Fire Insurance Ebook IC 57

The Insurance Times

problematic and expensive in case of imported
machineries.

Sometimes the suppliers can even refuse to repair or
even replace the parts and insist on supplying the entire
assembly of the machine. Sometimes it also becomes
increasingly difficult to acquire a machine due to
obsolescence and change of model. Another problem
may be that sometimes the cost of repair and replacement
of the components would be highly disproportionate to
the value of the entire assembly. These are special
problems and the surveyor has to deal with the cases
on the basis of individual merits.

c. Household goods - For furniture and fixtures, loss
assessment is usually based on replacement cost less
depreciation or cost of repair with deduction for
betterment.

In respect of household goods, invoices, bills of purchase,
etc are rarely available. The cost of replacement or
repair or reconditioning is determined by the surveyor in

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