Inflation, freight delays, and component shortages have inflated replacement costs for surveying equipment by as much as 25% since 2022.
Recent insurance market reports warn that firms failing to update insured values risk significant out-of-pocket losses.
ACSIS Equipment Insurance, developed for surveyors, covers theft in open air, flood, and accidental damage with a $50,000 blanket limit for unspecified items such as total stations or drones.
“Underinsurance is one of the most common causes of claim disputes,” Tom Williams, Business Development Manager at ACSIS Ltd says. “Your equipment values should reflect today’s prices, not last year’s.”
Key actions:
- Review sums insured annually.
- Include software calibration, shipping, and replacement hire costs.
- Keep digital proof of purchase and maintenance.
Takeaway: At ACSIS, we specialise in supporting surveying firms. We understand the industry and the policies that protect it. Your tools are your trade, make sure they’re covered with precision.