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  • Tool Insurance

    Looking for advice on protecting my investments in equipment and tools. I'm an employee for a large Propane and Heating Fuel company. I'm building up to potentially go out on my own in the future, servicing and installing heating and air conditioning systems. During this time I have invested heavily into the tools I use and provide. I've made a lot of sacrifices to be able to build myself to this point. Does anybody have any advice on insurance for tools owned as an employee of a company. Thanks for your time. Donnie

  • #2
    Typically tools valued over $1000.00 require an Inland Marine policy and have to be Itemized.

    Rick.
    phoebe it is

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    • Donnie
      Donnie commented
      Editing a comment
      Question Rick, I looked into the kind of policy you suggest, and looks like Travelers Insurance does these kinds of policies, any advice on good reputable Insurance Companies

  • #3
    Thanks Rick

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    • #4
      Tool insurance is a wasted of money if you are worried about a single tool. Tool insurance is priceless when you lose an entire truck.

      Mark
      "Somewhere a Village is Missing Twelve Idiots!" - Casey Anthony

      I never lost a cent on the jobs I didn't get!

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      • Donnie
        Donnie commented
        Editing a comment
        Thanks for the advice, no I'm definitely not worried about a single tool. The company I work for would be protected if the truck was stolen or broken into. However, all my Threading, Pressing, Testing, Service, Drilling, Combustion Equipment Etc. would be in question, and I really don't like taking risks! It's a sizable investment that I've built up, big enough that I'm considering insurance. Just looking to protect my investment, unfortunately we live in times where people will steal anything, anywhere, from anyone. I take my truck home at night, and live out in the country so I feel pretty secure about my home. However, a guy was just arrested for breaking into some of our trucks, in different areas of the state, mainly at offices where they were parked. Heroin, and other drugs are a huge problem in NH right now, along with it comes more theft. So I was exploring what others may have for advice, or advice on insurance. Thanks Donnie

      • ToUtahNow
        ToUtahNow commented
        Editing a comment
        I agree.I guy posted here the other day that someone stole his truck. The insurance company is covering his truck but he has to start all over with tools.

        Mark

    • #5
      Travelers or Merchants insurance companies do it. Make sure you overshoot on the value of the insurance you buy.
      ~~

      ... it was plumbed by Ray Charles and his helper Stevie Wonder

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