Re: Hy press

Posted by Wayne on May 20, 2004 at 20:59:54 from (64.12.116.80):

In Reply to: Hy press posted by Larry806 on May 20, 2004 at 09:36:48:

If your insurance company does like most others, if it's ever stolen or damaged it's only gonna be worth whatever you can prove it's worth, afterall it's "just a homemade press" not a "quality" store bought one. If you build yours heavy like we did it's gonna be way yonder healthier/over engineered than anything you can buy, but to the insurance company it's still homemade. If you work for yourself keep track of the time it takes you to build it times your hourly rate, then add to that the cost of the materials. This ought to give you at the very least a good starting point for the value, and best of all it's a "provable" value as long as you keep all your reciepts, etc. If your needing a second value for comparison, check with some of the tool distrubutors that carry name brand presses and get prices for some of them. I'll guarantee you that the prices will be way more than you have invested in yours which should help the insurance company see that you aren't trying to cheat them out of anything with the value you place on it. This in turn should make them a little easier to deal with now and in the future, if anything should ever happen to it.
Just my .02

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