Price repair losses against policy terms and limits. Apply average clause, deductibles, and depreciation. Download reports for audits and faster settlements.
| Scenario | Sum insured | Value at risk | Repair cost | Extras | Clauses | Deductible | Remaining payable |
|---|---|---|---|---|---|---|---|
| Warehouse machinery | USD 100,000 | USD 120,000 | USD 25,000 | USD 1,500 | Avg + Coin | USD 500 | USD 17,405 |
| Vehicle fleet repair | USD 60,000 | USD 60,000 | USD 9,000 | USD 0 | None | 2% of loss | USD 8,820 |
| Electronics reinstatement | USD 30,000 | USD 45,000 | USD 12,000 | USD 500 | Avg | USD 250 | USD 6,290 |
Partial loss claims can look simple because a repair invoice exists, yet settlement depends on policy mechanics. This calculator converts repair cost, salvage, taxes, and expenses into a traceable payout. The gross loss is capped by your chosen basis: repair-only, value-minus-salvage, or the minimum of both. That cap matters when repairs exceed the asset’s pre-loss value.
When the sum insured is below the value at risk, many policies reduce the payable. The average factor is computed as SumInsured ÷ ValueAtRisk, capped at 1. If coinsurance applies, a second factor compares SumInsured against the required percentage of value at risk, such as 80%. Multiplying these factors can materially reduce recoveries on large partial losses.
Claims often include additional costs like debris removal or temporary protection. The calculator adds these expenses and can cap them with a sub-limit. Non-covered percentages represent excluded components, while betterment reduces amounts that improve the asset beyond its pre-loss condition. These adjustments help align estimates with common adjuster worksheets.
Deductibles can be flat or a percentage, and percentage deductibles may be based on loss or sum insured. Optional minimum and maximum deductible bounds reflect policy schedules. Other recoveries and advance payments are subtracted to show remaining payable, which supports reconciliation during interim settlements and final closure.
The breakdown bar chart visualizes calculation stages, while the sensitivity chart shows how payable changes as depreciation varies. A waterfall graph provides a step view from gross loss to rounded payable. Exporting CSV and PDF creates consistent documentation for claims files .
A partial loss is damage that can be repaired, where the asset is not treated as a total loss. Payment is usually based on repair cost, subject to policy caps, deductibles, and clauses.
If you insure for less than the value at risk, the claim can be scaled by SumInsured ÷ ValueAtRisk, capped at 1. This penalizes underinsurance even when the loss is partial.
Enable coinsurance if your policy requires insuring a percentage of value, such as 80% or 90%. The calculator applies a penalty when SumInsured is below the required amount.
Salvage can cap value-based loss, while other recoveries and advance payments reduce what remains payable. Including them helps reconcile interim payments and avoid double recovery.
The breakdown chart shows key stages, the sensitivity chart shows the effect of depreciation, and the waterfall chart explains step impacts. They support review, audit, and scenario comparison.
No. It provides an estimate based on the inputs and standard claim mechanics. Always confirm the final approach with your policy wording, adjuster guidance, and insurer requirements.
Important Note: All the Calculators listed in this site are for educational purpose only and we do not guarentee the accuracy of results. Please do consult with other sources as well.