Originally Posted by hvacker
yes sure rely on your home owners policy yeah right - get ready for the hosing of your life.
1 my dad did make a claim after his personal tools were stolen from the service van parked outside his home (forced entry)
the insurance co denied the claim as the van was not on the ppty but parked on the street ( a difference of 10ft)
then they raised his premiums by 30% and raised his deductable from 300 dollars to 2,000 dollars
you say well go find another insurance company yeah right!
Now try to get another insurance company to take you on after making a claim
read your home owners insurance policy carefully I'll bet there is severe limitations if not an all out exclusion for tools used for work
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Most insurance companies will not insure under your homeowners policy tools that you use to make a living with. A special rider (Inland Marine Policy) is needed.
1 That Make things Happen 1. Those that make things happen.
This is why these questions were Posted the company I work for wants to set up a company tool policy so I have been asked to find out what others have in place. In our field.
We usually buy the big tools (hammer drills/sawzalls) stuff like that.
The hand tools belong to the tech.
i worked for a large mech. contractor & here was our deal: they offered tool insurance at an unbelievable rate(low) , so that tookcare of breakins , that are out of control the last few years due to high powered battery tools and just plain brazen attacks on trade trucks. they supplied big ticket items , like v pumps , pressure washers , etc. and the more expensive meters. your duty to not abuse them & they repair when needed. most of us more experienced guys bought their own eqp't. so we could get better quality items of our own choise , and they would repair them or replace them , if needed. Please let me know if you want any more info , Jack
1. Pesonal tools are not replaced by the company. One company tried to get the employee to claim company tools on the homeowner policy.
Originally Posted by Norton750
2. It is your tool, so you replace it. I buy hand tools with a lifetime warranty when possible. I try to avoid using my own power tools on the job because the companies I have worked for will never fix/replace them (but, they gladly accept the time saved).
3. I know some that have had the company suggest that the employee repair/replace the tool.
Edit: Something a little more common in my neck of the woods is the company will replace your personal tools if they are damaged on the job. This is good for the company because they do not have to make the investment in the tools to do the job (they pass their expenses to the employee), and then can find ways not to follow through with their policy (or change it) if one of your tools breaks before they lay you off.
Last edited by neophytes serendipity; 05-10-2008 at 12:38 PM.
All tools are insured by my employer. I provide my own hand tools and they supply specialty big items. Stolen/broken they replace it.
I own everything I brought into this marraige, all of which is gone. She owns everything I've worked for since.
Is this a Fabreze moment? C.Y.D. I'm voting white elephant. 2¢.
My competition are my best salespeople!
After all these years I have purchased all my own tool;hand,meters, service, metal, power....You name it. My philosohy is if it's mine I will take good care of it. And it's a given that I won't loan them-period! As well- "have tools, will travel"
meanwhile, back at the ranch.....