Tool Spreadsheet Discussion

[TK-421]

I thought I should probably start a tool spreadsheet just in case something ever happens, and I figured I should probably start now, since I have barely anything relative to quite a few of you.

However, I don't really know what all information I need to put down, and which I don't. I have the tool name, the part number, the manufacturer, where I bought it, when I bought it, what I paid for it, and whether or not it's part of a set. Should I also put down the cost from the manufacturer site, or will insurance not care about that and buy it from the cheapest place they can?

If I bought something as part of a set, should I label it as part of a set, for the part number and cost, or should I label each piece individually and then have a separate column for what I paid for it as part of a set and then the price of the individual piece from the manufacturer website?

Feel free to post up pictures of your own spreadsheets to help me/others who are starting theirs or thinking about it.

P.S. I tried a search to find other tool spreadsheet threads, but couldn't find anything as in depth as what I'm trying to do. And I'll see about figuring out how to transfer it over from Excel to Google so others can see my progress.

 

[vartz04]

Just compile a list of sets or individual tools as well as serial numbers when available. That's all you need when you get burgled like I did.


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[Krolik]

Do yourself a favor and take a quick video of your toolbox (or whatever else) and post it to Youtube so you have a date and a quick overview of your tools. A toolbox tour of sorts - if you don't want anyone to see it, set it to private when it's uploaded. I do it every 6 months or so as I'm always moving stuff around, buying stuff, etc.

My insurance agents usually like seeing video and whenever I'd hand them a list they'd be more willing to work with me to replace things.

 

[PFSard]

I would get something in writing from your insurance company on your issue. And if you subsequently change insurers, do the same.

 

[Empty Pockets]

I have quite a collection of tools over the last 45+ years.

I have a spread sheet with Manufacturer, Tool Type, Model Number, Serial Number (if available), Description, Quantity Owned, Replacement Cost, and Totals. I also list which tool box, and which drawer they are in. As for Power tools, I have a shelf unit for them.

I take pictures of EACH drawer, and as I add tools, I update the spread sheet, and take additional pictures. I put this all on 2 flash drives, sending one to my sister and one to my daughter, both of whom are out of state.

I hope this helps

 

[Empty Pockets]

Here are sample pictures

 

[r_olson_06]

I have quite a collection of tools over the last 45+ years.

I have a spread sheet with Manufacturer, Tool Type, Model Number, Serial Number (if available), Description, Quantity Owned, Replacement Cost, and Totals. I also list which tool box, and which drawer they are in. As for Power tools, I have a shelf unit for them.

I take pictures of EACH drawer, and as I add tools, I update the spread sheet, and take additional pictures. I put this all on 2 flash drives, sending one to my sister and one to my daughter, both of whom are out of state.

I hope this helps

Wow impressive think that covers about every possible bad event that could happen. Alot of work doing that. I do like the quick video on YouTube idea. Makes it alot less time consuming especially with the shear amount. I made a list of just my ratchets and it took the better part of an afternoon. I don't know to feel proud or embarrassed by collection/obsession. But now I can tell you I have 243 ratchets

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[TK-421]

Thanks for the help and pictures Empty, I forgot about serial numbers since I don't think I have any tools with serial numbers yet, but I will before I'm done, so I'll make sure to add that onto my spreadsheet. Do you have purchase price and replacement cost, or just replacement cost? Where do you get it from, whichever site has it cheapest, or do you go by the manufacturer's site?

r_olson - That's why I'm trying to start now, when I have barely anything, and then update it every time I get a new tool, so it only takes me 30 seconds to update, rather than having to start from scratch when I have a 56" crammed full of tools.

Krolik - Thanks for the video idea, I definitely like that. It'd also make a cool visual representation of how my tool collection has progressed over the years.

 

[RivennHewn]

Does your insurance company need to know what you've got before something happens?

You may not be covered at all if you aren't specifically paying for that type of protection.

 

[fordnut85]

When I got the policy on my shop I had asked the agent what i needed and he just wanted a brief list of brand, model and serial number if available. Then he advised me to take the time and video everything and store it redundantly (i like the youtube idea!). Then any time I made a purchase to snap a photo and add it to the list. Then, about every 6 months update the video to include any new items.

 

[TK-421]

I'm still living at home currently, can't afford a place of my own what with tools and college to pay for, and a crappy minimum wage job currently until I can get my hands on a silly piece of paper that finally makes people realize I know what I'm doing, and will give me a better job I'll actually enjoy. So I don't know what all exactly is and is not covered by the insurance. This is moreso for the future, once I move out and have my own place, and can actually start investing big bucks into big name tools.

 

[Empty Pockets]

I generally will go by a common vendor for the tools in question.

For craftsman, I go to the Sears site
For SK, Wright and others, I'll go to a big tool retailer's site Often HJE
For SnapOn, Mac and other tool truck brands, I go to their web sites
For Mongrel Brands I google them, often using HD or Lowes Site

In another column on the spread sheet, I reference where I sourced the price.

As to original cost, That isn't a consideration for me. My policy is "replacement value". You might want to check with your insurance agent. You may need to upgrade your policy or get a rider for your tools. The value adds up so quickly, It's scary.

 

[Gotcha640]

I have a sheet that's more to confirm that I actually own the tool I can't find at the time.

As far as the insurance goes, it depends a lot on the insurer, the adjuster, the total value you're asking for, what the police report says. I had a bag of tools, maybe 20 cman wrenches, 3/8 socket set, 6 pliers, stolen out of my truck, and the agent (who I eat breakfast with once a month) happily threw an extra $300 on the check. I've now been using the same guy for the last 10 cars, three houses, and my wife's jewelry.

Also, since my friends and I regularly work on each other's projects, we share the spreadsheets and check before we buy. I have George's rotary hammer, Mike's router, and Mike has my circular saw and big torx sockets right now.

 

[TK-421]

So you guys don't think I really need to include whether or not it was part of a set? And include each individual part number, rather than the part number for the set it came with?

Which makes sense now that I think about it, because if the entire set isn't stolen, and only a few tools are missing, then they're not going to buy me a whole new set, they're only going to replace the ones that are gone.

See, this is why I made this thread, it's nice to bounce ideas off of other people, because they might make sense to me initially, and then sound not quite so good when I think about them, heh.

ETA: Do most insurance places care about when or where you purchased them? Or do they mainly care about what it was, anything useful for identification if recovered, and some sort of proof you're not making up the fact that you owned it?

 

[md21722]

Decent insurance is generally based on replacement cost. It does not matter if you bought it new, used, at full retail or found it in the gutter. Replacement cost is just that, what it costs to replace it. That doesn't mean searching pawn shops until you find it because you bought it at a pawn shop the first time. It means what it would take to buy it from the manufacturer at full retail price, including any shipping and tax. Some policies may use depreciated value or some other nonsense. I would avoid these policies. Power tools usually have serial numbers. If I had sets, I would list the part number of the set and what it contained. Consider that part numbers may change or become NLA.

 

[Richard Cranium]

I have pictures of my tools , But no list.

 

[Empty Pockets]

I list my tools individually even if they came in a set. After talking to my insurance broker, I am told that If I suffer a loss, the insurance company will cut a check for 80% of the replacement cost. Once I purchase the replacement item, I submit the receipt and they will cut a check for the other 20%

If the entire set is a loss, I can replace the set, usually at less than the 80% payment and everyone is happy.

Fortunately, I have never had to file such a claim