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?
 
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While I'm sure there are some very determined thieves out there, they aren't that common to have the rigging and trucks to load up and haul away lathes, mills and other bigger equipment that weigh several tons. Short of someone wanting to steal the equipment for their own shop, there's a lot of other stuff in people's homes that will get loaded out before that stuff.

For me, insurance would be more about loss via damage (fire, vandalism, natural disaster).
 
Hi Guys,

A bloke that I knew, kept spiders, big ones, very big ones, in his workshop ! He used to let them walk on him. He tried and failed to persuade me to handle one. No thanks ! Gave me the willies. I reckon anyone breaking into his place wouldn't have stayed long.
 
My experience with a fire loss of guns with State Farm insurance is the home owners policy will only cover 2 guns up to a certain amount. Anything more has to put on a rider policy and is at a premium cost.
Another thing we found out with heirlooms and antiques is that they will only pay for modern replacement value (with replacement policy) unless you had them appraised and/or documented in a similar way as to their true value.
Pictures help, but it was my experience that they don't have a "Total Loss" statement in their policies and you have to itemize everything right down to all your dirty underwear and then go price replacements up to the maximum of your police or they won't pay.
Just like big business, they're glad to take your money, but you'll play hell getting a dime from them.

My advice would be to take pictures (make sure you have a secure cop not in your house, they burn too) and talk to your agent.
Don't take his/her word for it make them put it in writing. I'll bet they'll tell you anything you want to hear, but will baulk at writing it down or at least amend their earlier statement that you're covered.
 
For guns, jewelry, small valuables, important documents, etc buy a real UL listed safe. A TL-15 or TL 30 at minimum. A TL-30-6 is even better. They resist an attack for 15 or 30 minutes with tools by experienced UL techs who break into safes all the time. Here is a You Tube video of one test.


The techs have the safe open at first and have the construction plans of the safe. So they get to plan their attack. It is the same for each test brand & model. All they have to do is make an opening big enough to get their hand into to be considered a successful break in. Note they do not try to pry around the doors. The commercial safes have thick welded frames around the doors. Plus there is barely space enough to slide a thin card into. So no room to put a prying object between the door and frame.

Used commercial safes with a TL15 or TL-30 rating come up for sale on craigslist all the time. Last one I bought was $500. Some can be had for even less. Easy move by myself with a pallet jack and hydraulic drop bed trailer. Talk to a reputable locksmith or locksmith shop. Local shops who service department store safes, jewelry stores, etc. They usually have used safes or know where to get one for a very reasonable price. There are two locksmiths in my area who I've dealt with multiple times and they are great.

Most "gun safes" sold to consumers are just thin gauge sheet metal with a fancy paint job. If they are UL listed at all they are usually a "RSC" rating. That stands for residential security container. A cheap hand held grinder with a cut off wheel will will open one up like a sardine can in about 5 minutes. These companies hype up the fire ratings and their fancy looking composite (hollow with some sheetrock) doors. Worse is the sense of false security these companies sucker people into while charging big $$$ for it. They think they are buying a real safe.

Here is a basic safe buying guide.

http://www.6mmbr.com/gunsafes.html#budget
 
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I'm glad I spent my money on commercial used safes, instead of giving my money away to the insurance companies!
 
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