Computerized Equipment Lists Cost Truckers Millions
The insurance companies want to know the risk they are assuming when they insure your fleet.
Revenue Canada want to know all the equipment you own to determine what depreciation they can allow.
For the most part, the same list is used for both purposes.
However, when you do give your list to your insurance broker or insurance company, it is important to mark the vehicles that are out of service, out of commission, parked against the fence waiting for a driver, or vehicles not plated.
It would surprise you how many truckers are paying premium on vehicles that are not being used. This happens because they show up on equipment lists created for tax purposes, not insurance purposes.
The insurance companies want to know the risk they are assuming when they insure your fleet.
Revenue Canada want to know all the equipment you own to determine what depreciation they can allow.
For the most part, the same list is used for both purposes.
However, when you do give your list to your insurance broker or insurance company, it is important to mark the vehicles that are out of service, out of commission, parked against the fence waiting for a driver, or vehicles not plated.
It would surprise you how many truckers are paying premium on vehicles that are not being used. This happens because they show up on equipment lists created for tax purposes, not insurance purposes.