How is replacement value (the insurance amount) calculated?
Replacement value is a number you set on each asset — the cost to buy an equivalent today. It lives alongside (not instead of) purchase cost and book value. If you haven't set one yet, AssetTrack falls back to the original purchase cost so totals are never blank, and the asset is flagged in the gap analysis as 'needs review'. The portfolio replacement total is simply the sum across active assets. We don't auto-fetch market prices, because the right number depends on your insurer's definition (new-for-old, agreed value, or current market value) — bulk-update tools let you apply a category multiplier at renewal time.
How is the insurance gap calculated?
Insurance gap = total replacement value − total book value (floored at zero). Replacement value is what it costs to replace the fleet today; book value is the depreciated accounting value (straight-line: cost minus (cost − residual) × elapsed days / useful life). The gap is your exposure if a policy paid out at book value alone. The projected replacement line on the portfolio chart grows replacement value at 5% per year as a planning assumption — a forecast, not a guaranteed inflation rate.
Can these numbers be adjusted?
Yes. Replacement value is editable on every asset and bulk-editable via CSV import/export. Book value is driven by purchase cost, useful life and residual value percent on each asset — useful-life defaults come from the category and can be overridden per asset. Categories and their default useful lives are editable in settings, so the depreciation curve reflects how your business actually uses each asset class.
Can my broker get a feed of the schedule automatically?
Yes. Brokers can be invited as a read-only user on your workspace or consume the data via the public API using a scoped key. Either way, the schedule they quote from is the live register, not last month's snapshot.
What about non-IT assets — fit-out, vehicles, equipment?
The same fields apply. Replacement value, serial (or VIN), location, condition and photo work the same way for furniture, fleet, plant equipment and tools as they do for laptops.
How does the gap analysis flag missing coverage?
The insurance view runs deterministic checks: missing replacement value, missing photo, missing serial, replacement value stale, asset above threshold at a location not on the policy schedule. Each finding links to the asset that triggered it.
Is the data export claim-ready?
Yes. The insurance schedule CSV includes everything underwriters and loss adjusters routinely ask for, and each row links back to its source asset for the supporting evidence (invoice, photo, chain of custody).
