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.