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Insuring Tools

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  • Insuring Tools

    Over the years i have put together a collection of expensive tools for my personal garage. Welders, plasma cutters, lathes, mills etc. Since it is all stored in my personal garage and used for personal use only my home insurance policy will not cover it. What are you home/hobbyist guys doing to protect your tools?

  • #2

    I had my garage and its contents insured by my homeowners seperate from my house.


    • #3

      Most homeowner policys have a max of 5000 in tools. In order to insure my tools, both on my srv truck and shop i had to pay for added policies on my business insurance. Only way i found to do it.


      • #4
        most insurance companies will insure a particular item, or collection of items, for an additional cost, on the ho policy


        • #5
          Insuring Tools

          Everything is insurable at a price. If your home owners caps off you need to get an Additional policy, if you want the coverage.


          • #6
            I couldn't get my insurance to cover hand tools, but I did get them to cover larger items. Each item had to have a serial/vin number, and had to be individually listed on the policy.

            I even tried to get them to insure hand tools with a $1k or $2k deductable. I don't want to claim one or two tools that I loose. I just want to claim if a theif wipes me out. Still no go for hand tools. I have way more invested in tools than I have in welders/equipment so I wasn't happy.


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