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NC Kansas | Back in the late 80's, I had my tools (Snap-On) stolen out of the farm shop where I was employed. It was not MY shop or MY FAMILY'S shop, but the FARMER'S shop. My tools were listed on my homeowners policy. One night they were stolen, along with many items the farmer owned out of HIS shop. I turned in a claim with my agent, he laughed at me. I called the company and told them about it and they wanted a detailed itemized list of the tools with the CURRENT value. I had bought them in '83 when I went to Vo-Tech so they were 5-6 years old and did have some wear. It was a basic set of SAE tools and a few metrics, top chest and bottom roller cabinet. They paid me full CURRENT NEW value at the time they were stolen. The insurance company said that Snap-On tools were lifetime warranty and thus appreciated in value, not depreciate. I was surprised that they paid and the value astonished me!
My advise, use the pictures and make an itemized list of all your tools. Get the prices from the maker (Snap-On, Craftsman, etc.) and then just modify the list as you delete and add tools. They add up to major $$$$ and I would imagine insurance would be quite reasonable. | |
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educate me on insurance, are my work tools covered?
