Underwriting
Frame equipment details and valuation assumptions alongside the policy question.
For insurers
Put machinery value on firmer ground.
Insurance decisions depend on more than a figure on an asset schedule. Worthify brings the machine, the supporting evidence and the valuation context together so cover and claims discussions start from a clearer basis.
Decision context
Where machinery value enters the conversation.
A value is easier to assess when its asset, purpose and assumptions are clear.
Cover reviews
Make it easier to discuss how an asset description and value fit together.
Claims conversations
Keep the value question connected to the specific machine and available evidence.
Questions to keep in view
Start with what the decision needs to answer.
- 01
What equipment is being insured?
- 02
What information supports the stated value?
- 03
Which assumptions should be visible to the next reviewer?
Evidence in practice
Make the insured basis and the evidence visible.
A useful review connects the exact machine to the value basis named in the relevant schedule or policy wording, then shows what the available evidence can and cannot support.
- 01
Describe the subject
Record the make, model, year, configuration, attachments and the machine-specific information available for review.
- 02
Name the value basis and date
Separate a market-value question from a replacement or reinstatement question. Record the valuation date and the policy or schedule context being considered.
- 03
Review evidence and limits
Check each market reference against the subject, date, geography, condition and sale status. Make assumptions and gaps visible to the next reviewer.
Source and scope
- OUTsurance Business policy wordingA single insurer's published wording; not a universal policy rule.
One policy example: OUTsurance's published Business wording describes market value immediately before loss for certain insured property outside its new-for-old section, and separately sets conditions for a reinstatement-value clause when noted in the schedule. That wording is specific to that product; the applicable policy and schedule determine the terms for an individual risk.
Equipment context
Explore the machinery.
Start a conversation
Talk through an insurance valuation question with Worthify.
Describe the asset, the decision and the information you already have. We will take it from there.