CNC equipment appraisal and insurance?!

[diyengineer]

I would like to put some of my equipment on a insurance plan. Who does equipment appraisals?

The thing is i bought my old machine for what it was worth in scrap at the time.

Now it looks brand new, and should run soon. They obviously don't sell it any more since it was dated from the late 70's. It will soon be a full refurb/rebuild and should be worth a decent amount of money. Who is my best bet to get an accurate ballpark of what it is worth so i can insure it for that value, and/or migrate it to my business as an asset. I could easily record it for any value i deem reasonable, but that would be a foolish thing to do because i wouldn't want to over/undershoot its value.

Anyone else in the same boat or has ventured down this path? I just like to cover my bases so if something happens im set.

Thank you!

[diyengineer]

anyone? Would like to insure my ex boeing machine but have no clue who to contact about its price.

[zool]

American Society Of Appraisers
ASA Home


Association of Machinery and Equipment Appraisers Association of Machinery and Equipment Appraisers

Equipment Appraisers Association of North America
Equipment Appraisers Association of North America - Welcome

A competent equipment appraiser will be able to take any variation in machinery age and how it been upgraded and maintained into consideration in developing an opinion of market value.

Or, in appraiser language, they will be able to adjust the sale comparables for curable and incurable physical deterioration, and curable and incurable functional obsolescence relative to the subject machinery.

[diyengineer]

You are a life saver!!! Thank you VERY much!!!!!

American Society Of Appraisers
ASA Home


Association of Machinery and Equipment Appraisers Association of Machinery and Equipment Appraisers

Equipment Appraisers Association of North America
Equipment Appraisers Association of North America - Welcome

A competent equipment appraiser will be able to take any variation in machinery age and how it been upgraded and maintained into consideration in developing an opinion of market value.

Or, in appraiser language, they will be able to adjust the sale comparables for curable and incurable physical deterioration, and curable and incurable functional obsolescence relative to the subject machinery.