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Thread: Tool Insurance

  1. #14
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    Feb 2008
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    Waffleville
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    10,339
    never worked with a company that did anything about tools outside of a tool account that deducts X number of dollars a week out of the pay check. but that was only one company that did that.

    none of them had any kind of insurance.

    i have checked into getting my own tool insurance a few times and its deffinately not cost effective. the last quote i got was about four weeks ago and that was 86 bucks a month to cover 10k

    not worth it IMO i'll just replace whatever is stolen or lost.
    If Guns Kill People, Do Pencils Misspell Words?

    http://www.youtube.com/watch?v=An2a1...eature=related

    Before we work on artificial intelligence why don't we do something about natural stupidity?

  2. #15
    Join Date
    Dec 2007
    Location
    Ohio
    Posts
    2,876
    Hey Beachy.....do you rent or own where you live??

    My G/F technically owns our house because my name is not on the loan.....

    BUT....I am listed as a "renter" and because I am, I have renters insurance....

    about 10 bucks a month gets me 10K and covers my property while on her property....


    Just a though.....
    I need a new signature.....

  3. #16
    Join Date
    Feb 2008
    Location
    Waffleville
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    10,339
    so you figured it out too

    i didn't want to tell all my secrets lol

    i moved back home for the time being
    If Guns Kill People, Do Pencils Misspell Words?

    http://www.youtube.com/watch?v=An2a1...eature=related

    Before we work on artificial intelligence why don't we do something about natural stupidity?

  4. #17
    Join Date
    May 2009
    Location
    Florida
    Posts
    67
    Your tools are your livelyhood, The more you have (and know how to use them) the more your worth. Making the investment yourself should get you ahead in life. If the company buys them you can expect to be on the bottom of the pay scale industry wide.

    I would say buy your own and take care of them, if you do they will take care of you. If you hook up a meter wrong and burn it out whos fault is it?

    Measure your value and worth buy your tool bag. If you have the tools to do the job you should be paid accordingly.

  5. #18
    Join Date
    Jun 2005
    Location
    Near Chicago, IL
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    3,317
    Quote Originally Posted by ascj View Post
    Does the company you work for, provide tool insurance? If they do, then what kind of setup do they have?

    I'm getting tired of replacing tools that I bought and are damaged while performing maintenance and/or repairs for my company. With the amount of tools you need these days, it puts a big dent in the wallet. I want to bring this problem up at the next service meeting. And any time I bring up a problem, I try to have a solution to follow.

    Just looking for some ideas and/or what others have in place already.
    I have only worked for 2 companies that claimed to replace tools you owned if they were broken on company time. This policy was for power tools and cordless batteries, not basic hand tools.

    Getting them to pay was like pulling teeth. Probably costed me a job at one of them.

    Calling the BA and trying to get the tool list enforced is also a crock.

    Never again. Not worth it.

    Either bring it in and replace it (eventual tax writeoff) or don't bring it in and probably get fired for that, too (too slow on the job or everyone else does it, why don't you kind of thing).

    Sorry, but I don't have a solution, other than to suggest taking better care of your stuff.

  6. #19
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    Feb 2008
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    Waffleville
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    Quote Originally Posted by Springsdiver View Post
    Your tools are your livelyhood, The more you have (and know how to use them) the more your worth. Making the investment yourself should get you ahead in life. If the company buys them you can expect to be on the bottom of the pay scale industry wide.

    I would say buy your own and take care of them, if you do they will take care of you. If you hook up a meter wrong and burn it out whos fault is it?

    Measure your value and worth buy your tool bag. If you have the tools to do the job you should be paid accordingly.
    appreciate the input. we really didn't know that
    If Guns Kill People, Do Pencils Misspell Words?

    http://www.youtube.com/watch?v=An2a1...eature=related

    Before we work on artificial intelligence why don't we do something about natural stupidity?

  7. #20
    Join Date
    May 2009
    Location
    Central Florida
    Posts
    65

    Owners experience

    I had what I thought was a good policy, if it breaks on the job the company paid to replace it. Turned out it had several problems.
    1. Some are a lot harder on tools than others.
    2. Some buy crappy tools that don't hold up.
    3. Some would turn in tools for replacement that had a lifetime warranty.

    Changed that policy to wit:
    Mechanics and techs could charge up to $750 and pay off at $30 per week plus 15% of overtime.
    The company gave each $$$ per quarter deducted from their tool account balance for having the required tools.
    If you didn't have a required tool you didn't get the $$$ that quarter.

    This rewarded those who purchased quality tools and took care of them. Since their tools seldom broke they could by the latest fluke-a-matic or whatever. Those who didn't look after their tools, well it probably covered some of their loss anyway.

  8. #21
    Join Date
    Jun 2006
    Location
    New Jersey
    Posts
    4,340
    Thanks for all the replies.

    Alot of people commented on the company buying tools for there employees. What I'm talking about is I have a huge investment in tools in my truck (that I paid for). I use these tools to make my company money. I also invest in the best tools to save time and do the job right, which the company appreciates. Until it comes time, when one of the said tools breaks. Not from abuse or neglect. But from it being used.

    This stemmed from my Fluke 971 going out of calibration. There is no scratch or nick on this thing. Fluke won't calibrate it (which I have always paid for). So I have to replace it. My company considers this a hand tool, so I have to replace it.

    I was just thinking it would be in the companies best interest to start some kind of tool insurance policy. It would help the techs maintain the tools they are using, which would help against call backs and proper diagnostics.

    Also recently, I got a call from a fellow tech, asking for some advice on a split system. I asked him what his line temperatures were, he responded "I don't know and can't check them". I asked him why. "My pipe clamp broke Monday and I don't have the money right now to replace it, until next week"

    We are not even allow to charge tools on the company account and have it taken out of our pay. It makes it rough on the lower guys.

    I'm just trying to come up with a solution that will help all the techs and benefit the company. Maybe that's impossible.

  9. #22
    Join Date
    Feb 2008
    Location
    Waffleville
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    10,339
    i did get cought in a rain storm once and my meter got wet and died. my boss replaced it for me

    but i think he wanted to avoid my whining and bickering
    If Guns Kill People, Do Pencils Misspell Words?

    http://www.youtube.com/watch?v=An2a1...eature=related

    Before we work on artificial intelligence why don't we do something about natural stupidity?

  10. #23
    Join Date
    May 2009
    Location
    Central Florida
    Posts
    65
    Quote Originally Posted by beachtech View Post
    i did get cought in a rain storm once and my meter got wet and died. my boss replaced it for me

    but i think he wanted to avoid my whining and bickering
    Smart decision by the boss.

  11. #24
    Join Date
    Jun 2005
    Location
    Near Chicago, IL
    Posts
    3,317
    Quote Originally Posted by ascj View Post
    Thanks for all the replies.

    Alot of people commented on the company buying tools for there employees. What I'm talking about is I have a huge investment in tools in my truck (that I paid for). I use these tools to make my company money. I also invest in the best tools to save time and do the job right, which the company appreciates. Until it comes time, when one of the said tools breaks. Not from abuse or neglect. But from it being used.

    This stemmed from my Fluke 971 going out of calibration. There is no scratch or nick on this thing. Fluke won't calibrate it (which I have always paid for). So I have to replace it. My company considers this a hand tool, so I have to replace it.

    I was just thinking it would be in the companies best interest to start some kind of tool insurance policy. It would help the techs maintain the tools they are using, which would help against call backs and proper diagnostics.

    Also recently, I got a call from a fellow tech, asking for some advice on a split system. I asked him what his line temperatures were, he responded "I don't know and can't check them". I asked him why. "My pipe clamp broke Monday and I don't have the money right now to replace it, until next week"

    We are not even allow to charge tools on the company account and have it taken out of our pay. It makes it rough on the lower guys.

    I'm just trying to come up with a solution that will help all the techs and benefit the company. Maybe that's impossible.
    At least for the 971, I would suggest buying tools that don't require calibration. Something like a plain old fashioned sling psychrometer would do the trick... not too expensive, durable and no batteries or calibration required. I've had mine for over 10 years.

    If I *had* to use a tool that required calibration, odds are it would not be calibrated unless the boss paid for it. Again, I would try *really hard* not to choose or provide tools that required that level of maintenance. I don't envision providing something like a flow hood for the boss.

    Stuff like the pipe clamp... well, maybe buying an extra one when times are good is something to think about. Yeah, it sucks, but the guy with a broken critical (and relatively inexpensive) diagnostic tool doesn't look so good in front of a customer. Hell, there's nothing wrong with a bead thermocouple and some velcro, right?

    I don't think there is a solution outside of looking for another employer (or becoming your own) as far as tools go.

    I've never worked at a company that didn't appreciate tools or a truck that they didn't have to pay for... but they sure forget all that extra money in their pocket real quick when something *you own* and *they benefit from* breaks.
    Last edited by neophytes serendipity; 05-07-2009 at 08:29 AM.

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