Equipment Appraisal for Insurance Coverage

5.0from 80+ client reviews

Equipment appraisals for insurance coverage, prepared to support insurance submission. AppraiseItNow provides certified valuations that protect businesses from underinsurance gaps and support faster, dispute-free claims settlements.

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DEFENSIBLE, USPAP-COMPLIANT MACHINERY & EQUIPMENT APPRAISAL REPORTS — QUALIFIED FOR INSURANCE CARRIERS, UNDERWRITERS, AND AGENTS.

  • State Farm
  • Progressive Insurance
  • Chase
  • Allstate
  • GEICO
  • United States Courts
  • Nationwide Insurance
  • Bank of America
  • IRS

The machinery and equipment team behind your insurance appraisal

Between them, our machinery and equipment appraisers hold CAGA designations, and every report is written to USPAP for insurance carriers, underwriters, and agents.

Joe Kattan

Joe Kattan

Owner & CEO

Joe founded AppraiseItNow to make a certified, USPAP-compliant appraisal as simple to order as anything else online. A former Bain & Company strategy consultant, Joe leads the entire team and specializes in strategy, growth, and the firm's tech capabilities.

Jason Dolph

Jason Dolph

Machinery & Equipment Appraiser

Third-generation auctioneer and CAGA Certified Appraiser with more than 20 years valuing machinery, equipment, vehicles, business assets, and estates for banks, attorneys, and trustees across the Carolinas.

Marnie Erkelens

Marnie Erkelens

Vehicle Appraiser

CAGA Certified Appraiser since 2014, covering vehicles, boats, equipment, fine art, and collectibles. A classic-car restoration background informs her vehicle work, with reports prepared for insurance, divorce, and charitable contributions.

Aron Blue

Aron Blue

Client Success Manager

Manages each engagement from the first enquiry to the delivered report, and keeps you posted at every step along the way.

  • USPAPWritten to the Uniform Standards of Professional Appraisal Practice
  • Replacement valueThe retail replacement cost carriers and adjusters schedule and settle against
  • Certified Appraisers Guild of AmericaCertified Appraiser
  • The Appraisal FoundationAuthorized by Congress as the source of appraisal standards

Equipment Appraisals for Insurance Coverage

AppraiseItNow provides USPAP-compliant equipment and machinery appraisals specifically structured to establish accurate insurable values for policy placement, scheduled riders, and coverage updates. Whether your insurer requires replacement cost or actual cash value as the basis of value, our appraisers document the appropriate standard to match your policy language. Our equipment valuation practice covers manufacturing lines, construction fleets, agricultural machinery, and virtually every other category of commercial and industrial equipment.

We deliver appraisals both online and through onsite inspections across the United States, giving businesses flexibility regardless of location or equipment complexity. Each engagement produces a photo-documented report that satisfies insurer requirements and supports defensible coverage decisions. For businesses seeking proactive insurance coverage appraisals before a loss occurs, our process is designed to move quickly without sacrificing accuracy.

Equipment and Machinery We Appraise for Insurance Purposes

AppraiseItNow appraises a wide range of commercial and industrial assets, including:

  • CNC machining centers, lathes, milling machines, and precision manufacturing equipment
  • Construction equipment including excavators, bulldozers, cranes, and skid steers
  • Agricultural machinery such as combines, tractors, planters, and irrigation systems
  • Semi-trucks, trailers, vocational vehicles, and commercial fleet assets
  • Food processing and packaging lines, including conveyors, fillers, and industrial ovens
  • Printing presses, bindery equipment, and commercial graphics machinery
  • Medical and dental equipment including imaging systems, surgical tools, and diagnostic devices
  • HVAC, electrical generation, and utility infrastructure equipment
  • Woodworking, metalworking, and fabrication shop equipment
  • Warehouse and material handling equipment including forklifts, racking systems, and automated conveyors

How AppraiseItNow Handles Equipment Insurance Appraisals

Our appraisers hold credentials through recognized professional organizations including ASA, AMEA, and NEBB, with demonstrated expertise in equipment-specific valuation methodologies.

  • Clients share purchase invoices, maintenance records, fixed asset registers, and relevant policy language before the appraisal begins, allowing our appraisers to align the valuation premise with actual coverage terms.
  • Each report applies the cost approach, market approach, or both, depending on equipment type and insurer requirements, and documents the chosen methodology, underlying assumptions, and scope boundaries in full.
  • Completed reports include detailed equipment descriptions, condition assessments, supporting market data, and photographic documentation, formatted to meet insurer acceptance standards for scheduled coverage and policy placement.
  • Appraisals are available on an expedited basis, with typical turnaround times designed to meet policy renewal deadlines and new coverage timelines without requiring clients to delay binding coverage.

What clients say we are known for

AppraiseItNow Reviews: “Great business to work with”

  1. Answering fast, and staying reachable while the work runs“From the start they were very responsive, price competitive” Chris S.Mentioned in 34 reviews
  2. Showing the research and the comparables behind the number“They diligently researched both equipment items and provided well-documented reports” Bob H.Mentioned in 29 reviews
  3. Delivering the finished report ahead of the deadlineMentioned in 21 reviews
  4. Taking on items other appraisers had already turned downMentioned in 14 reviews
  5. Being the appraiser they come back toMentioned in 44 reviews

Across 80+ published AppraiseItNow reviews the picture is consistent: every one is from a client who paid us for an appraisal, and the three things they raise most often are that they would hire us again, how quickly we answer, and how much research is visible in the report.

  • I was looking for an appraisal and time was of the essence. They got the job done in only a few days with excellent customer service. Great business to work with.
    Rick H. , Peru, NY ·

    Machinery & Equipment Appraisal for Insurance Coverage

  • AppraiseItNow did an outstanding job appraising my 1998 Bobcat Skid Steer and circa 2010 Yuchai Crawler Dozer. We could not locate a serial number on the dozer, and there were no online sales available, but they were still able to develop an accurate appraisal using known specifications for my dozer compared to other comparable make and model dozers. They diligently researched both equipment items and provided well-documented reports.
    Bob H. , Dallas, TX ·

    Machinery & Equipment Appraisal

  • From the start they were very responsive, price competitive, and had a quick turn around time. Thank you so much to Joe who was very sweet in responding to my emails; I am looking forward to utilizing AppraiseItNow for many years to come.
    Chris S., San Clemente, CA ·
  • Very thorough and professional — great communication and outstanding service. Highly impressed with their work!
    Curt B. , Washington, UT ·

Frequently Asked Questions on Equipment Appraisals for Insurance Coverage

What value should machinery be insured at?

Its new replacement value when the policy is written on a sum-insured or replacement-cost basis: the current cost to replace with like kind and quality, ignoring depreciation. Scheduling older equipment at book value or secondhand market price is the classic mistake, because the policy limit then falls short of actual replacement cost and underinsurance penalties follow.

Which insurance-specific value definitions appear in these appraisals?

Insurance cost new, meaning replacement or reproduction cost new as the policy defines it less specifically excluded items, and insurable value depreciated, which subtracts accrued depreciation as considered for insurance purposes. These policy-tied standards, not generic fair market value, are what carriers expect an equipment coverage appraisal to report.

How do appraisers keep replacement values current?

By periodic reappraisal, escalating original purchase prices with cost indices or obtaining current supplier quotations, with adjustments for freight, duties, and exchange rates on imported machinery. Inflation and technology changes erode scheduled values quickly, and outdated schedules are a leading cause of underinsured equipment losses.

Where does fair market value fit in insurance coverage work?

Mostly it does not. Fair market value anchors tax, estate, and litigation appraisals, but insurers indemnify on replacement cost or actual cash value as defined in the policy, and at claim time ACV formulas cap recovery based on age and service life. We state the applicable insurance standard in the report so the schedule matches how a claim would actually be paid.