Replies

1. 
   UnclePablo | Jan 26, 2006 03:40am | #1

   I have a rider for my tools.  I also have pics of EVERYTHING in my shop. I wrote down, and stored elsewhere, serials, models, as much detailed info that I could. The pics are on a disc in a safe place.

   When you sit back and think of what it would actually take to replace every item..........makes me nervous.

   -Paul

2. 
   bones | Jan 26, 2006 04:00am | #2

   Realy depends on your insurer and your policy. I have nationwide, and they cover my tools in case of a fire upt the total coverage of my house. However, theft has a standard 5k limit. I added at the reccomendation of my agent another 10k rider just for my tools. Took a video tape of the shop. The additional coverage cost me less than 5 bucks a month.  Some carries don't have the requirement. The deal is read your policy!!!!!!!! Good luck. 

3. 
   mudman | Jan 26, 2006 06:46pm | #3

   I have a comercial liability policy and a rider to protect the contents of the shop. Does not cover theft. There is no deductible and the policy was relatively expensive, about a third of what my million dollar liability policy costs.

   Mike

4. 
   forestgirl | Jan 26, 2006 07:01pm | #4

   Talk to your insurance agent!  Totally varies depending on the company.  Asking us what you need is like asking us if your health insurance co. will cover a certain bill. 

   Last year when our homeowner's ins. renewed, the agent asked me if hubby had this, that, the other and....tools?  I said, well now, he doesn't have many tools but I have a ton!  We established an approximately replacement cost.  He asked if it was a business, which it is, but extremely tiny at this point.  Ended up costing us an extra $20 a year or something ridiculous like that.

   forestgirl -- you can take the girl out of the forest, but you can't take the forest out of the girl ;-) 
   Do unto others as you tell them they should do unto you....

5. 
   muleboy | Jan 28, 2006 08:16am | #5

   I was curious about the same thing.   My fiance and I moved into our house and shortly after changed to Allstate.   The agent said I didn't need a rider for the tools just a slight increase in a couple parts of the coverage.   less than $15 If I remember correct.   

   Perhaps it's off the subject but since I had just purchased an engagement ring in the last year I asked him about the jewelry.   He told me that normal home owners covers only a small amount of jewelry.   We needed a rider for the jewelry and she had to get the engagement ring appraised.

   I also did the video thing of both my tools and her jewelry.   As a way of housing the video outside of the house I uploaded it to a Web mail service, sent it in an email to a couple of friends who were willing to store it on their computers and both of them burned the video on CD.    There are many copies of the video and most of them are not at the house.

   On the other hand...  a fire safe rated for media is a way to go.

   View Image

   The contents made it out OK...

   Muleboy.

1. 
   forestgirl | Jan 28, 2006 10:56pm | #6

   If you're insured by Allstate, you will definitely want a very detailed record of every single item you own.  One of my best friends and her husband lost their entire house to fire, filled with beautiful, restored antiques, quality rugs and such.  Allstate was abominable in the way they handled the claim. forestgirl -- you can take the girl out of the forest, but you can't take the forest out of the girl ;-) Do unto others as you tell them they should do unto you....

1. 
   muleboy | Jan 29, 2006 08:16pm | #8

   A detailed record I definitely have.    Every tool has a still photo and a video record.   I also have model and serial Numbers for everything that has a serial number.   I honestly can't see anything more I can do.

   As far as Allstate goes...  I am a firm believer that ALL insurance companies are in the business of making money.   If they can get out of paying a claim they will.   If they can make the money up in inflated premiums after the claim they will.

   I look at it in a Darwinistic manner.   Only the ones who prepare the paperwork and keep good records will get paid.   There are a whole lot of people that are not getting paid after Katrina, despite what they thought was adequate insurance.

   I am really only concerned with the possibility of fire.    As far as theft comes in, as long as I lock the doors nothing short of a truck driven through the overhead door is going to get that garage open.

   AS far as one company vs. another,  I could write a book on the nightmare that was my experience with State Farm.   They are all crooked!!!

   Muleboy.

    

6. 
   tinkerer2 | Jan 29, 2006 04:11am | #7

        Started on my barn (shop) almost two years ago.  When I got it pretty well enclosed, I moved the tools over and I tried to insure it this summer with a new company.  I can insure it and save quite a bit on the premiums, but not until I get the house reroofed.  So, last summer, I called a contractor and he was anxious to get the job, has been over several times but guess what?  No work on the job.  Seems as though I must get another contractor.  Well over two hundred k to build the barn but only, I think, about twenty k of insurance on the barn plus the contents.  

   
   

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   Edited 1/31/2006 11:00 pm ET by tinkerer2