# Insurance company wants serial numbers for all equipment



## joeyg999 (Nov 21, 2012)

I was called yesterday by my agent and they asked for serial numbers for every thing I have on my policy. I asked them if I could put my own number on some of plows and spreaders and they did not know. In the past I have just given them a list of what I own. 

Have any of you guys had to do this before and Does anyone know If I can put my own numbers on the older equipment?


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## SnoFarmer (Oct 15, 2004)

They want a # that will hold up in court to identify your equipment when it gets stolen then recovered.

operation ID or your DL #, some made up # would need to be logged to be a possibility.


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## Citytow (Sep 21, 2014)

if its stolen , it gets pro rated anyway . did you actually get the policy yet ? never had to do that . you may be getting more than liability there.


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## joeyg999 (Nov 21, 2012)

I have been with them for over 4 years now. I have full coverage on all of my equipment and keep adding more. There is a sticker on the wideouts with a serial type number that could be removed pretty easy. I'm going to engrave or weld my own I D numbers on and photo log it all then send it to them.


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## Citytow (Sep 21, 2014)

joeyg999;1850158 said:


> I have been with them for over 4 years now. I have full coverage on all of my equipment and keep adding more. There is a sticker on the wideouts with a serial type number that could be removed pretty easy. I'm going to engrave or weld my own I D numbers on and photo log it all then send it to them.


then all you need is the official document to back it up if it disappears . the document is what they'll chase . then they'll pro rate the ballz off it . we cant win


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## joeyg999 (Nov 21, 2012)

I hope it never comes to that. What would a pro rated uni-mount from the 90's be 300 if that minus the 500 deductable. 
I really cannot see them wanting to pay much for any of it seeing it cost under 100 bucks a year to cover 4 plows and 3 v boxes.


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## plowguy43 (Jan 2, 2008)

I can't speak for your agent, but when I write policies for my clients we always recommend keeping an inventory and picture records of all equipment. If scheduling tools or insuring pieces of equipment, getting a serial number is something we always try to have.

Remember - your agent is on your side and is trying to make it easier for you to get more back in the event of a loss. You may want to look into a policy with Replacement Cost for your equipment as well - most carriers won't offer it, but there are a few who do. It will cost a little more in your premium, but you obviously get a lot more back if there is a loss.


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## Mark Oomkes (Dec 10, 2000)

Do they ask you for your VIN on your truck?


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## joeyg999 (Nov 21, 2012)

Of course they have the vin for the trucks.


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## Mark Oomkes (Dec 10, 2000)

Then you answered your own question.


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## plowguy43 (Jan 2, 2008)

^ Exactly.


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## joeyg999 (Nov 21, 2012)

it sounds like they may have made some changes they are also asking replacement value on things too. Like I said before they just wanted year and make. Well now I have something else to add to my list of things to do. 

Thanks for some Answers.


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## plowguy43 (Jan 2, 2008)

Believe me, its worth the time to figure this out now (and keep a record of what you are sending them for values/serial numbers) rather than rush to do after a possible loss occurs.


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## joeyg999 (Nov 21, 2012)

I'm due for renewal in January and they want it by then. I plan on doing a detailed list with multiple pictures of each item.


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## AccuCon (Jan 31, 2013)

This is just all around good information. 

Looks like I have some picture taking and inventory work to do...Joy


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## allagashpm (Sep 29, 2012)

Makes sense to me. I gave them msrp and serial numbers for mowers and the model. Vin for trailers.I wouldn't make your own numbers


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## plowguy43 (Jan 2, 2008)

joeyg999;1850330 said:


> I'm due for renewal in January and they want it by then. I plan on doing a detailed list with multiple pictures of each item.


I usually set up an excel sheet for my clients : Name/Type of Equipment, Serial #, Year (age), Replacement Cost.



AccuCon;1850649 said:


> This is just all around good information.
> 
> Looks like I have some picture taking and inventory work to do...Joy


Always good to have for multiple reasons. Years go by and you have tons of stuff that add up to the point you don't realize how much you actually have. If any of its damaged/stolen and you have to replace it, its surprising how quickly it adds up.



allagashpm;1850857 said:


> Makes sense to me. I gave them msrp and serial numbers for mowers and the model. Vin for trailers.I wouldn't make your own numbers


Exactly. Give the info that is on their from the manufacturer.


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## Ben/Insurance (Oct 22, 2012)

Everyone, I would take a different approach to this. To keep things simple for you while providing superior coverage, I would write an "unscheduled equipment floater" with a catastrophic (cat) limit of whatever the equipment adds up to in an aggregate. I suugest that you buy "Agreed Value" or at least Replacement Cost coverage. This way, you don't need to update the equipment all the time with your insurance carrier but the equipment is fully covered. You must keep good records on your end however, to substantiate your claim in the event something happens. Here is an example. Lets say you own $100K in equipment. Instead of scheduling cataloguing) each item individually, you buy a $100,000 "floater" with no per item limit. We do this regularly here in NY and it works out great for the client provided they keep good receipts/records. Have your agent look into this. Good luck.
Ben/Insurance


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## Mark Oomkes (Dec 10, 2000)

Ben/Insurance;1851024 said:


> Everyone, I would take a different approach to this. To keep things simple for you while providing superior coverage, I would write an "unscheduled equipment floater" with a catastrophic (cat) limit of whatever the equipment adds up to in an aggregate. I suugest that you buy "Agreed Value" or at least Replacement Cost coverage. This way, you don't need to update the equipment all the time with your insurance carrier but the equipment is fully covered. You must keep good records on your end however, to substantiate your claim in the event something happens. Here is an example. Lets say you own $100K in equipment. Instead of scheduling cataloguing) each item individually, you buy a $100,000 "floater" with no per item limit. We do this regularly here in NY and it works out great for the client provided they keep good receipts/records. Have your agent look into this. Good luck.
> Ben/Insurance


Interesting and thanks for the info. But I do have a couple questions.

1) Is this generally available from all carriers? It's never been suggested to me, so that's why I'm wondering.
2) Would\do you add handheld equipment--trimmers, blowers, etc? I have worthless coverage for that right now, because it has to be a minimum of $500.


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## Ben/Insurance (Oct 22, 2012)

Mark, this is not available from all carriers. A good independent insurance agent that is familiar with contracting insurance should have the markets for this. Good ones too. I would not recommend that a client put a claim in for a trimmer, blower etc, even though it will be covered (remember.... it's unscheduled). Insurance should be used for catastrophic events. Just the big stuff. Take at least a $1K deductible on the floater. You are not putting in the smaller claims so why not save a few bucks?
Ben/Insurance


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## Mark Oomkes (Dec 10, 2000)

Thanks again, Ben.

I will do some checking.


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