Too frequently, we’re managing tools insurance claims where payment is delayed while the customer tries to dig up proof of ownership of the stolen items. A little bit of preparation will save a ton of time and effort if a claim ever does need to be made. Here are some tips:
Maintain an Asset Register
This doesn’t need to be complicated. It could just be a list of all your major items (say, everything over $500) with their cost, serial number and date purchased. Add and delete items as you go. There are various apps to help with this, or use your accounting software or a spreadsheet.
Keep Receipts/Invoices
Take a photo of the receipt and save it in a folder in cloud storage.
Take Photos of Your Tools
Then save them to a folder in cloud storage.
If you have tools insurance with us, send this information through, and we can keep it on your file.
