Theft-Insurance?

[Vibe Ray]

Do you guys have theft insurance on any of your equipment? What are your thoughts? I am considering getting theft insurance for my new Lazer HP I am getting.....

[MJ]

see nlminc's post tonight about three guys robbing him. Could that happen to you?

Mick

[Randy Scott]

My equipment is covered for theft or vandalism along with my insurance for the business which everyone should have when they are exposed to others while doing lawn maintenance! A value of equipment is given to them so they can get the correct numbers of coverage for it, and the liabilities end of it. Sounds like most of us carry a million or two of coverage for a smaller lawncare business.

[thelawnguy]

Theft (inland marine?) coverage is relatively cheap (for me $121 for 7k coverage) but dont overdo it, most policys have a min deductible of 250 so dont bother with the small stuff, and on the bigger stuff they usually pay acv (actual cash value) not replacement cost so just because you insure a lazer for 10k doesnt mean they will pay that when it vanishes.

Also make sure your insurance covers materials away from your biz, ex. your supplier drops off 30k worth of wallstone at a jobsite and it vanishes you need to be sure it will be covered. Not all policies will.

[Esby]

I would deffinately insure your equipment, as most others say. Its just not worth the risk of watching all your hard earned money go into someone elses pocket.

[Vibe Ray]

Anyone else?

[nlminc]

I have all of my equip. insured. I believe that you you need a separate policy for larger purchases such as ZTR's and/or equipment with a value of over $5,000.00. Check with your ins.co. for more info. I use Farm Family Ins. they have always had great rates for people like ourselfs in the agri/landscape business.

Chris

[TJLC]

Insurance is probally one of the things people hate to pay the most, but very important to have because you never know.