Assessment of loss of FFF in fire claims

[MITTAL SURVEYOR]

I WANT VALUABLE SUGGESTIONS FROM MY SURVEYOR BROTHERS.
HOW TO ASSESS THE LOSS OF Furniture, Fixtures, Fittings IN FIRE CLAIMS UNDER SHOPKEEPER POLICY OR
FIRE POLICY.
WHETHER AMOUNT APPEARING IN BOOKS/ BALANCE SHEET IS RELEVANT MORE
PARTICULARLY WHEN WE CAN SEE THAT
THE SHOWROOM WAS FITTED WITH LARGE NUMBER OF ITEMS. IN ONE CLAIM THE
DEPRECIATED VALUE OF FFF AS PER BALANCE SHEET IS
RS. 50,000/- THE ASSESSED LOSS IS ABOUT 2.00 LACS. THE INSURED WAS RUNNING
THE BUSINESS FOR THE LAST 25 YEARS.
SHOULD WE ASK THE INSURED FOR YEAR WISE CAPITALIZATION OF FFF. 

Parmod MittalC.A.
Mittal Surveyors Pvt. Ltd.
Mittal Street
Amrik Singh Road
Bathinda (Punjab) -151005
mittals...@gmail.com 
ms...@hotmail.com
(M) 098140-35030
(O) 0164-2250590

Parmod Mittal C.A.
Mittal Surveyors Pvt. Ltd.
Mittal Street
Amrik Singh Road
Bathinda (Punjab) -151005
mittals...@gmail.com 
ms...@hotmail.com
(M) 098140-35030
(O) 0164-2250590

[s_vashisht .]

Dear sir
As per my view the book value may be negligible, apply
depn. as per age
taking into consideration YEAR WISE CAPITALIZATION OF FFF.

Regards

Suresh Vashisht
9814024844

On 6/4/12, MITTAL SURVEYOR <mittals...@gmail.com> wrote:
> I WANT VALUABLE SUGGESTIONS FROM MY SURVEYOR BROTHERS.
> HOW TO ASSESS THE LOSS OF Furniture, Fixtures, Fittings IN FIRE CLAIMS
> UNDER SHOPKEEPER POLICY OR
> FIRE POLICY.
> WHETHER AMOUNT APPEARING IN BOOKS/ BALANCE SHEET IS RELEVANT MORE
> PARTICULARLY WHEN WE CAN SEE THAT
> THE SHOWROOM WAS FITTED WITH LARGE NUMBER OF ITEMS. IN ONE CLAIM THE
> DEPRECIATED VALUE OF FFF AS PER BALANCE SHEET IS
> RS. 50,000/- THE ASSESSED LOSS IS ABOUT 2.00 LACS. THE INSURED WAS RUNNING
> THE BUSINESS FOR THE LAST 25 YEARS.
> SHOULD WE ASK THE INSURED FOR YEAR WISE CAPITALIZATION OF FFF.

> *Parmod MittalC.A.
> Mittal Surveyors Pvt. Ltd. *

> Mittal Street
> Amrik Singh Road
> Bathinda (Punjab) -151005

> *mittals...@gmail.com* <mittals...@gmail.com>*
> **ms...@hotmail.com* <ms...@hotmail.com>
> (M) 098140-35030
> (O) 0164-2250590
> *Parmod Mittal C.A.
> Mittal Surveyors Pvt. Ltd. *

> Mittal Street
> Amrik Singh Road
> Bathinda (Punjab) -151005

> *mittals...@gmail.com* <mittals...@gmail.com>*
> **ms...@hotmail.com* <ms...@hotmail.com>
> (M) 098140-35030
> (O) 0164-2250590
>
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>


--
Regards

Suresh Vashisht
Suresh Vashisht & Co.

[Denesh Saxena]

Dear Sri Mittal & All,

As the matter of fact the depreciation considered in books is some
thing else and technical depreciation is the other. For assessment
under insurance policy the technical depreciation has to be
calculated. For most of the items in the consideration of material
used & maintenance the rate of dep. per year may differ but maximum
depreciation is considered for 50% with some exceptions too.

Now the matter becomes quite simple and after taking into
consideration the capitalized value the technical depreciation in the
view of age has to be deducted after ading for due appreciations for
the valuation & for the liablity the technical depreciation has to be
deducted from the current value i.e. as per estimates / quotations.

In my opinion we just provide the adjustment of loss and the insured
should not be forced to provide the current valuation etc nor any time
should be wasted in the process.

Regards

D.K. SAXENA
(HALDWANI)
Mob. No. +91 9837048029

On 6/4/12, MITTAL SURVEYOR <mittals...@gmail.com> wrote:

> I WANT VALUABLE SUGGESTIONS FROM MY SURVEYOR BROTHERS.
> HOW TO ASSESS THE LOSS OF Furniture, Fixtures, Fittings IN FIRE CLAIMS
> UNDER SHOPKEEPER POLICY OR
> FIRE POLICY.
> WHETHER AMOUNT APPEARING IN BOOKS/ BALANCE SHEET IS RELEVANT MORE
> PARTICULARLY WHEN WE CAN SEE THAT
> THE SHOWROOM WAS FITTED WITH LARGE NUMBER OF ITEMS. IN ONE CLAIM THE
> DEPRECIATED VALUE OF FFF AS PER BALANCE SHEET IS
> RS. 50,000/- THE ASSESSED LOSS IS ABOUT 2.00 LACS. THE INSURED WAS RUNNING
> THE BUSINESS FOR THE LAST 25 YEARS.
> SHOULD WE ASK THE INSURED FOR YEAR WISE CAPITALIZATION OF FFF.

> *Parmod MittalC.A.
> Mittal Surveyors Pvt. Ltd. *

> Mittal Street
> Amrik Singh Road
> Bathinda (Punjab) -151005

> *mittals...@gmail.com* <mittals...@gmail.com>*
> **ms...@hotmail.com* <ms...@hotmail.com>
> (M) 098140-35030
> (O) 0164-2250590
> *Parmod Mittal C.A.
> Mittal Surveyors Pvt. Ltd. *

> Mittal Street
> Amrik Singh Road
> Bathinda (Punjab) -151005

> *mittals...@gmail.com* <mittals...@gmail.com>*
> **ms...@hotmail.com* <ms...@hotmail.com>
> (M) 098140-35030
> (O) 0164-2250590
>

[shailesh shah]

Physical observations and judgmental value- of the items at risk-
present in the premises as on date of inspection- and verified to be
true for its existence- and its condition - just before the loss- is
the best basis to vouch upon- in the circumstances stated herein dear
Mittalji.

--
This message is from
Shailesh B. Shah
Vadodara