Do you have extra insurance for your machines/tooling?

I haven’t looked into it yet, but as I sit here in Tucson sipping coffee, I worry about the security of my empty home in Northern California.
I’m sure most of us,have in excess of, $30,000 worth of tools and machinery in the shop.
I am curious what some of you have done insurance wise. If I had a theft or a total loss, I have replacement value up to a certain amount. If a few pieces were stolen, I would be out some money for sure.
I have taken pictures and videos of my tool inventory for a record.
What are your thoughts?

 

I have my machines as listed items on my homeowners policy.

 

As a mechanic my hand tools and such are covered through my employers insurance. About 50k in tools. For my house I have about the same in mechanics tools. Then a full wood shop,welders,machines and tooling to go along. I also have a rare car with low low mileage I keep in the garage.
If my garage went up I would probably max my homeowners insurance policy out. I have also taken pictures of every drawer and machine in my shop. The only reason why I haven’t bumped up coverag is they will just charge you more. The homeowners policy should cover unless you have way more tools than house is worth. And I’m SICK AND TIRED of givin money to insurance companies. I’m 40 and have multiple cars,motorcycles. Between cars,house,health,injury policies that I have NEVER made a claim. I’m sick of giving my money away. Yeah,yeah I know you might need one day “my mother is a State Farm agent”. At least give me some rebates or somethings for never making a claim in 30+ years.

 

A few years ago I asked my agent about extra coverage for my guns. I chose not to due to the staggering extra cost.
That’s why I am hesitating and asking for a consensus

 

A few years ago I asked my agent about extra coverage for my guns

Join the NRA. Comes with some included coverage with more available for probably much much less than your insurance quote.

 

I never thought of the NRA.
I am a long time RSO /Member of the NRA.
I’ll check it out for my firearms.
Thanks

 

Hi Guys,

A number of years ago My workshop was broken into and around £24K worth of electronic equipment was stolen ! I had it separately insured, as it happens for 25K, all listed, serial numbers, the lot. The police basically did nothing other than give me a crime reference number. The insurance company looked at the claim and decided that since the bulk of my equipment had been purchased at auction it had no value. They only agreed to pay out for a third of the insured value, and that was only after I threatened to sue.

As far as I'm concerned insurance companies are thieves and robbers. The only insurance I buy now, is that, I am legally obliged to have.

 

So homeowners wouldn't cover unless you get extra insurance? I have valuable guitars, guns and of course... tools. I had no idea these wouldn't be covered. WTH is covered?! Hopefully my Picasso collection!
Seriously, I will have to look into...thanks for the info!

 

My USAA policy is so robust that it covers my machine tools even if they are at a friend's house or a storage unit. Guns too. That's their default coverage. I interrogated the agent about all sorts of scenarios and read the fine print. Pretty fair deal. They cover my property, and that's that. Flood and fire are separate policies, by convention. Haven't had any claims yet.

(from mobile)

 

Hi Pontiac,

Be sure to let us know if you do have to make a claim !

Salesmen can tell you anything to get a sale...