Insuring Tools

[Richard A Downing]

How do people (amateurs) insure their tools? I just totted up the stuff in my workshop and got nearly 10,000 GBP replacement cost.

I can add it to the contents insurance, but is there a better way?

R.

[Rick]

Mine are on the house insurance. or at my self-build on the site insurance.

Rick

[Dave Plowman (News)]

I'd say you might need specialist insurance if it's an external workshop.

[Rumble]

Richard A Downing said the following on 13/02/2006 13:14:

Can't speak to your main question because I have commercial insurance anyway, but if you do decide to get your stuff insured, make sure you photograph/list every item. This is both for your benefit (so you don't forget to claim for anything) and to prove to the insurance company that you owned everything you are claiming for.

[.]

FiL got his workshops turned over by pikeys. well, I say workshops but it was six interconnected horse stables in a block at the bottom of the garden, some 200m away. they took everything. house insurance covered it, he made a list of what was missing and the ins. co. replaced everything rather than handing over a cheque. this was about 8 years ago.

he now has a collection of top of the range dewalt, makita etc.

[Dave Plowman (News)]

Good for him. I'd still check with your actual insurance company, though. Insurance has got much more cutthroat these days so I wouldn't just assume I'd be covered for a large value of tools.

[The Medway Handyman]

:-)

[Richard A Downing]

A very long way from the Medway. :-)

R.

[Matt]

Chances are it starts with one of the following:

11/19/5/48/20

If it does then get that insurance sorted out quick (and alter your posting name to be a little less traceable)

[The Medway Handyman]

How you know that kemosabe?

[the pilot]

Most insurance companys want proof of ownership.

That means original invoices and photos, and serial numbers

My insurance company wanted a list of everything over £250. So check with your insurance what max individual value is covered.

As I had a Dewalt (bought off Ebay) that when I checked, it had the serial number scrapped off. Which my insurance company then refused to cover, as assumed stolen, even thou I had got a reciept of purchase.

In the event of a claim, they want confirmation that all the door locks were locked, and also a police incident number, with proof of breaking and entry.

Any payments will not be paid direct to you but will be to the company you have nominated as being the replacement supplier.

As a general advice take a number of photos of your workshop layout, and thats the same for your own domestic house property.

Get an alarm fitted.