Have you ever had your insurance agent ask you how much you should insure your equipment for?
Do you wonder what the value of the your equipment is as relates to an orderly liquidation in the event of the sale of the business?
If you answered yes to either of these questions or both, you should be getting an outside equipment appraisal done every two to three years, updating the appraisal with any new purchases until the next appraisal is done. Equipment appraisals, using an orderly liquidation value or a fair market approach, can be obtained in most cases for $1,800. For your peace of mind and prudent financial planning you should consider having an appraisal done every two to three years.
To discuss your options when it comes to equipment appraisals, give me a call at 201-523-6326 or e-mail me at firstname.lastname@example.org.