I had a meeting with my insurance agent the other day for reviewing my
homeowner insurance policy. I was informed under the policy, tools are
insured in the home or in my truck but not in any of the rentals. He also
indicated addition coverage for tools would be costly and is also why
contractors don't have tool coverage either. Wonder if I could get
reasonable additional coverage elsewhere for landlords?
That doesn't sound quite right. Since however that is the advice you
have been provided, know that the IRS does consider a maintenance
company to be a business. Set up a separate business entity and have
that provide maintenance services to your rental properties.
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