Shopsmith Forums

I was encouraged to establish a complete inventory by my insurance agent, just in case something terrible happens. I have a spread sheet set up. For tools, accessories and supplies it's pretty easy. I can readily find a replacement nail gun or for nitrile gloves. But when it comes to the jigs I've made over the years I'm not at all sure how to establish a value. I have 3 different cross cutting gigs I've made. A gig to make mortises with a router and so on. I have NO idea about the cost of the material I used nor the labor involved...but I have 15-20 so it's worth getting it together. Any suggestions?

Thanks for reading.

berry wrote:I was encouraged to establish a complete inventory by my insurance agent, just in case something terrible happens. I have a spread sheet set up. For tools, accessories and supplies it's pretty easy. I can readily find a replacement nail gun or for nitrile gloves. But when it comes to the jigs I've made over the years I'm not at all sure how to establish a value. I have 3 different cross cutting gigs I've made. A gig to make mortises with a router and so on. I have NO idea about the cost of the material I used nor the labor involved...but I have 15-20 so it's worth getting it together. Any suggestions?

Thanks for reading.

If you don't know the insurance company won't know either. I would jus pick a reasonable number on the lot and if you don't get carried away the insurance company should not balk. Emphasis on the word should.

What about finding similar commercial products, at least as close in function as possible, to establish value? A lot of us spend a significant amount of time building jigs and such, that if multiplied by even minimum wage might result in costing around the same price or more than commercial equivalents.

I was once told by an insurance adjuster to "Just take a lot of pictures".



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I have to say, as I got into this, that I started talking lots of quick shots with the phone. I have a android, so then I've been moving them to a Google Album. As I move through this process, I tried to open a drawer every couple of days, spread the contents on the bench and take a few shots. I can't believe how much I've accumulated. I don't think I'm in the 'hoarder' class but there's lots

Berry,

I have been in insurance property (homeowners) claims management for years. I would just locate a commercial product that performs the same or similar function and use that price. You are not likely to get any push back and if you do then put the ball in their court as to the value of the jig.

Jack