Adjust Your Insurance Policy
Looking to reduce some overhead fast? Adjust your insurance policies to account for the fair value of your equipment rather than the costs when purchased. In the event of a claim, insurance companies will only reimburse you for the Fair Value of your machine, not the amount on your policy. In fact many of them will try to replace your machine rather than send you a check.
Most buyers obtain an insurance policy when they purchase a new or used machine. However, grinders depreciate quickly in the first few years and the Fair Value of the machines drops far below the policy amount that your payments are based on. If you call your insurance agent and adjust the values you can significantly lower your payments without losing any potential benefit in event of a claim.
If you need any help determining a reasonable estimate of fair value for your wood and greenwaste recycling equipment please contact us. We handle nearly all makes and models and can reference actual market transactions to help you determine a fair value more in line with what your insurance company’s adjustor will likely find.
Also, if you do have a claim, please contact us about regarding your damaged machine. We buy salvage and used parts for grinders and screening equipment and can help you replace your damaged machine to get up and running fast.