What should I review when my business adds equipment or changes locations?
Prepare an updated equipment list, addresses and move dates. Explain where the equipment will be used, stored and transported so we can review those details with the insurer.
Start with the machine your business depends on
Imagine you’re moving a woodworking shop from Burlington to Hamilton. Your panel saw will spend a week in storage between leases. Your new dust collector, meanwhile, will arrive in Hamilton before you move in. Which address needs coverage first? In this case, it could be the new shop, even while you’re still filling orders in Burlington.
If you’re buying one machine and staying put, start with the supplier’s quote and delivery date. Tell me whether it replaces a machine you’re selling or adds to what you already own. If you keep the old machine as a backup, include both when we review your equipment limit.
Put the dates and addresses on one page
A moving date alone doesn’t tell me where everything will be. A few lines like these give me enough to start asking the insurer specific questions.
- Burlington shop. When does production stop, when does the last load leave and when do you hand back the keys? Include any stock or finished orders that will stay behind after the machines leave.
- Temporary storage. What’s the address, how long will you use it and what’s the most equipment you’ll have there at one time? Tell me who can access the unit.
- Hamilton shop. When do you get the keys, when does the first delivery arrive and when do you expect to restart production? If you’ll install new electrical service or dust collection, send me that part of the lease or contractor’s estimate.
Work out what it would cost to replace your equipment
For each major item, write down its make and model, where you keep it, whether you own or lease it, and what a comparable replacement costs today. An invoice identifies the machine. A current supplier quote is more useful for pricing a saw you bought ten years ago. Show freight, rigging and installation separately so we can ask how the policy treats those costs.
Small items add up, too. Group hand tools, clamps and blades together and estimate what it would cost to replace the group. Keep customers’ property on a separate line, such as cabinet doors left with you for refinishing.
Check who handles each part of the move
Who disconnects the saw, lifts it onto the truck, drives it to storage and sets it up again? Send me the mover’s written terms. If you’re using your own truck or trailer for some loads, flag which ones.
One question worth asking is, “If the saw falls while it’s being unloaded at the storage unit, who would I call, and what limit and deductible would apply?” We can put that question to the insurer and check the mover’s terms before pickup.
Plan for a delayed reopening
Suppose you’ve allowed three days to set up in Hamilton. Now imagine a fire damages the saw on arrival and the supplier needs six weeks to deliver another. Could you rent a saw, or would another shop have to cut panels for you? Give me a rough idea of the orders you’d lose, the bills you’d still pay and what it would cost to keep working.
We can use that example to ask whether your business interruption coverage would respond to an insured loss at that location, when payments could begin and whether extra expenses such as subcontracting would qualify.
Before the first delivery or pickup, share your current policy PDF, equipment list and move schedule with me. I’ll ask the insurer to confirm the addresses, limits and effective dates in writing. If the move slips by a week, let me know so we can check the revised dates.
Talk to me about your equipment or upcoming move.