Insuring Equipment
Posted: Tue 28 Dec, 2021 11:05 am
I have a quick query about insuring tools and equipment.
Do most framers insure everything so they are covered for replacing all their equipment and stock, or do you insure for the amount you need to restart your business?
When we first started my business we bought all the equipment and moulding for around £10k, but over the years I've added a few more tools and accumulated more stock.
It's just deciding whether to cover everything so it can all be replaced or to cover the bare minimum, so there's enough to start again.
Do most framers insure everything so they are covered for replacing all their equipment and stock, or do you insure for the amount you need to restart your business?
When we first started my business we bought all the equipment and moulding for around £10k, but over the years I've added a few more tools and accumulated more stock.
It's just deciding whether to cover everything so it can all be replaced or to cover the bare minimum, so there's enough to start again.