Dismiss Notice

Welcome To CK5!

Registering is free and easy! Hope to see you on the forums soon.

Score a FREE t-shirt and membership sticker when you sign up for a Premium Membership and choose the recurring plan.

Documenting Tool Ownership/value

Discussion in 'The Lounge' started by Cavalry, Jan 20, 2002.

  1. Cavalry

    Cavalry 1/2 ton status

    Joined:
    Oct 1, 2000
    Posts:
    978
    Likes Received:
    0
    Location:
    upstate NY(although I cant figure out why)
    I have been doing an inventory of my roll away. How do I document for the insurance idiots what I have in case somethign happens. All my stuff is snap on and Cman we are talking a substantial amount of money to replace. So far I have a itemized list of what it is, part # and replacement price. I just started saving reciepts a few years ago so I only have proof for about 1/3 of it all. I really wasnt intrested in paying a appraiser or anything.

    DRIVE IT LIKE ITS YOUR BOSSES!!!
    Luke
    84 K5
     
  2. The_Sandman_454

    The_Sandman_454 1/2 ton status

    Joined:
    Sep 9, 2001
    Posts:
    209
    Likes Received:
    0
    Location:
    Michigan, USA
    You might want to engrave a unique identifier on the tools. it'd take a while, but hey anything you can doccument will help you out. Might help to recover them or keep them from getting thieved too. I mean people are going to be leery of a deal buying tools that look like they've had ID marks ground/scraped off, etc... [​IMG] Take photos of all of your things, especially with a date/time stamp so they can see when it was taken a bit more clearly. [​IMG]

    Just a few thoughts.

    Tim
     
  3. BurbinOR

    BurbinOR 3/4 ton status

    Joined:
    Feb 17, 2000
    Posts:
    5,829
    Likes Received:
    0
    Location:
    Oregon
    Good question. Are you a homeowner? I *think* tools are covered under your policy, but not sure how you prove what you have..........I'm gonna have to ask my agent about that.

    <font color=blue>'79 ONE TON TPI K5 - See it at---&gt;<a target="_blank" href=http://www.blazzinor.rockcrawler.com/>BlazzinOR's Beast Buildup</a>
     
  4. behemoth

    behemoth 1/2 ton status

    Joined:
    May 16, 2000
    Posts:
    1,833
    Likes Received:
    0
    Location:
    Northwest Florida
    I agree with Tim - take a zillion pictures with a time/date stamp, them put them in a safe deposit box (in case of the God-forbid fire, tornado, etc.) This is a timely topic since we're all taking stock in our worth with it being tax time and all.

    behemoth K5
    "Better to remain silent and be thought a fool -
    than to open your mouth and remove all doubt"
     
  5. POWERMAD

    POWERMAD 1/2 ton status

    Joined:
    Mar 4, 2001
    Posts:
    3,466
    Likes Received:
    0
    Location:
    Oregon
    My renters insurance covers the ones at the house.
    If the ones at work get stolen I am SOL.

    <font color=green> Too bad ignorance isn't painful </font color=green>
     
  6. Pure Insanity

    Pure Insanity 1/2 ton status

    Joined:
    Mar 17, 2001
    Posts:
    4,579
    Likes Received:
    0
    Location:
    Dade City, Florida
    To add to what Sandman said......A shop I worked at back in the 80s had a problem w/ shop equip. turning up missing. The owner started engraving "Stolen from [name here]" on EVERYTHING! LOL! It put a stop to stuff growing legs. I used to mark all my tools the same way somewhere on the tool, I havent done that in prob close to 10 yrs tho. I just lock them all up at nite. The shop Im in now has video cameras everywhere, so I dont worry much about it. I had a shop tell me once to empty my box out on the floor and take pics. When my box showed up on a roll back, I told him to empty it out and refill it. He just took pics drawer by drawer. From a step ladder for the top drawers. [​IMG]

    If ya can't stop.......Smile as you go under! [​IMG]
    PIC of mine from flblazers site<a target="_blank" href=http://www.flblazer.alloffroad.com/photo3.html>
    GO</a>
     
  7. mudhog

    mudhog THEGAME Staff Member Super Moderator

    Joined:
    Nov 6, 2000
    Posts:
    17,899
    Likes Received:
    2
    Location:
    portland oregon
    i was robed a few years ago and all i had was pics of most all the stuff i had and that worked great for the insurance agent so yes pics do work very well take pics of everything and try having them time and date stamped

    wheeling pics
     
  8. Cavalry

    Cavalry 1/2 ton status

    Joined:
    Oct 1, 2000
    Posts:
    978
    Likes Received:
    0
    Location:
    upstate NY(although I cant figure out why)
    Some of my stuff is engraved already with my name and last 4 of SS. Some of it (not much)I bought used and it is engraved with other peoples names! I am a homeowner and the tools I am talking about are kept at my shop at home. Its a good idea with taking pics of the tools I have.. Since date stamps are so easy to fake how about printing out digital photos and having them notorized with the date? How much of a dick would the insurance co's be about so called depreciation. If I have a 10 year old ratchet wrench that cost me $100 new are they going to give me replacement value or some prorated crap..

    DRIVE IT LIKE ITS YOUR BOSSES!!!
    Luke
    84 K5
     
  9. mudhog

    mudhog THEGAME Staff Member Super Moderator

    Joined:
    Nov 6, 2000
    Posts:
    17,899
    Likes Received:
    2
    Location:
    portland oregon
    yes they do pro rate but tools hold there value electromics on the other hand depritiate very quickly

    wheeling pics
     
  10. Pure Insanity

    Pure Insanity 1/2 ton status

    Joined:
    Mar 17, 2001
    Posts:
    4,579
    Likes Received:
    0
    Location:
    Dade City, Florida
    How can a tool w/ a lifetime warranty depreciate? If it wears out or breaks you get a new one. I dont see how it can.

    If ya can't stop.......Smile as you go under! [​IMG]
    PIC of mine from flblazers site<a target="_blank" href=http://www.flblazer.alloffroad.com/photo3.html>
    GO</a>
     
  11. jarheadk5

    jarheadk5 1/2 ton status

    Joined:
    Mar 6, 2000
    Posts:
    4,389
    Likes Received:
    0
    Location:
    PA
    Good question there. I guess having all the warranty paperwork would go a long way towards making your point to the insurance co. about the depreciation issue.

    I suppose I should call my insurance company &amp; find out what their policy is on my tools. I have a feeling I'll have to get a rider on my policy to protect them...

    Ken

    January 28, 2002--The NEW Adventure Begins...
     

Share This Page