Short Term Equipment Form: What Information Is Necessary

A short term equipment form is an important insurance form. This form is used for insuring equipments on loan, lease or rent for a short period of time (may be less than a year). While applying for insuring short term equipments, you need to provide particular details to fill out a short term equipment form.

Equipment insurance offers coverage for theft and the claims are paid on the basis of the actual replacement cost. Coverage is also available for equipments in transit or off premises equipment. The expenses of equipment insurance policies are tax-deductible like regular business expenditures.

Information required by a short term equipment form

A short term equipment form necessitates the following information:

• Dates of Insurance: From ______ To ___________
• Transit Coverage: From________ To __________
• Transported by: _________
• Name of the Institution/Department
• Name of the Contact Person
• Contact Phone Number
• Address of the Department
• Departmental Billing Code
• Overall Value to Be Insured
• Any Attachments

The amount of deductible per loss on the insurance policy is also mentioned in the form.

In addition, you have to provide a list of equipments. Every item that you want to insure should be enumerated with the present replacement value for every component part or item. You also need to provide the following information:

• Quantity of Item
• Description of Item
• Serial No
• Value of Item
• Location of Equipment