Question, so I own a small carpet cleaning business and the value of my truck mounted machine bolted inside my van is worth about 5 times the value of my van because it's a 2000 chevy van. Someone ran into me and the adjuster deemed it a total loss even though it was just the bumper and back doors. I would think that the machine would increase the value of my van or do you think that wouldn't apply?
the equipment mounted inside or on a truck doesn't become part of the truck and is not included for insurance purposes as adding value to the truck. Equipment as you describe should be insured on a tools and equipment floater so that it's protected should it be damaged. Let me know if that answers it or how I can help.
We have 3 Crafts Service trailers that we rent to Studio Productions. We do not cook only do the snacks and drinks. We do have appliances such as refrigerators, etc. When the trailer is leased by the studio they cover the trailer. What we need coverage on is theft while being stored or an accident while being transported to storage. Can you tell me what kind of coverage we need and where we can get it?
Thanks for your question. First, I like my insureds to control their own insurance coverages and I'm always concerned when someone says that someone else covers them or something while they use them. So make sure you have a contract that identifies what is covered. For example, do they cover the liability exposures and/or the property exposure of the trailers in their use? Get it in writing. Second, my recommendation is that you have an inland marine policy on the trailers - unless your auto insurer can insure the full value of the trailers with all the build-outs covered, for the entire year. Meaning on set or off set. This will protect it in transit and in storage as well as in use. Hope that helps. Let me know if you need further assistance.
Thanks for the video. So say I'm doing business on location and my photo equipment got stolen - my personal property insurance wouldn't cover this? It would only be covered if I had an inland marine insurance policy? Thanks
![Marine Insurance Explained | Types, Coverage, P&I, Claims Management & Underwriting [Martin Lanting]](http://i.ytimg.com/vi/V4BQu6g82hI/mqdefault.jpg)
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Question, so I own a small carpet cleaning business and the value of my truck mounted machine bolted inside my van is worth about 5 times the value of my van because it's a 2000 chevy van. Someone ran into me and the adjuster deemed it a total loss even though it was just the bumper and back doors. I would think that the machine would increase the value of my van or do you think that wouldn't apply?
the equipment mounted inside or on a truck doesn't become part of the truck and is not included for insurance purposes as adding value to the truck. Equipment as you describe should be insured on a tools and equipment floater so that it's protected should it be damaged. Let me know if that answers it or how I can help.
Thank you!!!
You're welcome! Thanks for commenting.
We have 3 Crafts Service trailers that we rent to Studio Productions. We do not cook only do the snacks and drinks. We do have appliances such as refrigerators, etc. When the trailer is leased by the studio they cover the trailer. What we need coverage on is theft while being stored or an accident while being transported to storage. Can you tell me what kind of coverage we need and where we can get it?
Thanks for your question. First, I like my insureds to control their own insurance coverages and I'm always concerned when someone says that someone else covers them or something while they use them. So make sure you have a contract that identifies what is covered. For example, do they cover the liability exposures and/or the property exposure of the trailers in their use? Get it in writing.
Second, my recommendation is that you have an inland marine policy on the trailers - unless your auto insurer can insure the full value of the trailers with all the build-outs covered, for the entire year. Meaning on set or off set. This will protect it in transit and in storage as well as in use.
Hope that helps. Let me know if you need further assistance.
@@TheCoyleGroupNY can I call you?
Clear message
thanks for the feedback!
Thanks for the video. So say I'm doing business on location and my photo equipment got stolen - my personal property insurance wouldn't cover this? It would only be covered if I had an inland marine insurance policy? Thanks
Correct, most business owners policies only cover business property within like 1000' of your premiese.
Thought my headphones were broken. Thanks for the info but I’m pretty sure you only recorded this using only the left stereo channel.
thanks for the heads up! Not sure where it went wrong.
@@TheCoyleGroupNY no problem. I just figured it would be tough to notice and annoying going down the line having to redo videos with bad audio. 😉
What do you mean? Sound is fine for me on both headphones.
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