The site's most valuable resource: the inventory by asset group. At binding it gives you the right sums, at claim time it gives you the proof – all from a single table. Copy it into your own spreadsheet and work through it block by block; after the first fill-in, the annual update takes just fifteen minutes.
- Three blocks: building (reinstatement cost), machinery and equipment (today's replacement price), stock (typical and peak level).
- The completed inventory lives on through annual updates – new purchases in, scrapped items out.
- At claim time, the inventory plus photos plus receipts together make the strongest documentation.
Block 1: the building (if owned by the company)
| Item | Value | Note |
|---|---|---|
| Floor area (m²) | a separate row for each building | |
| Structure / construction type | brick, steel frame, sandwich panel… | |
| Year built / renovated | roof and building services separately too | |
| Special features | crane operation, cold storage, technical flooring | |
| Estimated reinstatement cost | unit cost × area + extras |
For the methodology behind estimating the reinstatement cost: determining the building's value. For a leased building, skip this block – instead, put together a list of tenant improvements (fit-outs, alterations, and their value today).
Block 2: machinery and equipment
| Description | Qty | Today's replacement value | Critical? |
|---|---|---|---|
| Production / service machinery | mark what would stop the company | ||
| Workshop and warehouse equipment | forklift, hoist, shelving system | ||
| IT and electronics | server, workstations, network | ||
| Office equipment, furniture | can be entered as a group | ||
| Small tools and equipment | at stock level, as a group | ||
| Off-premises equipment | deployed or in transit – marked separately |
The fixed-asset register can be your starting point – but the values need converting to today's replacement price: the machinery-inventory methodology. The "critical" column also lays the groundwork for the machinery-breakdown decision.
Block 3: the stock
| Stock category | Typical value | Peak value | Storage |
|---|---|---|---|
| Raw materials | where and how (shelving/pallet/outdoors) | ||
| Work in progress | |||
| Finished goods / merchandise | |||
| Third-party goods (consignment, received) | whose risk is it? – as per the contract |
The typical value and the peak value together give you the right cover structure – on patterns for managing fluctuation: stock article. Update the completed inventory every year, and report any major change: reporting changes. If you'd rather, we can fill it in together at the survey – that's the fastest route.
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