Insure your tools and box?

[JKWidener]

I just picked up this Matco tool box at an auction Saturday. Once my tools are in it, i would like to insure the box and contents, has anyone else done this? My homeowners insurance will cover it up to a certain extent. But the box and contents are worth more than they will cover on that policy. My job does not have insurance "state agency", so i have to provide my own in case of fire or theft.

[MoRo]

Would you be able to purchase a supplimental insurance policy to cover the amount which your homeowner's insurance does not?

[JKWidener]

Originally Posted by MoRo

Would you be able to purchase a supplimental insurance policy to cover the amount which your homeowner's insurance does not?

Not sure, thats why i was asking how others do theirs.

[Pat Barrett]

That looks like the mother of all tool boxes. Wow, Nascar has nothing on you. What a box. The reason I responded is I've never had anything stolen from my carport. Three months ago I went outside on a Sunday morning and 3 racks of 3/8" drive sockets, impacts and chrome and my 1/4" Craftsman set were missing from the top of my box. Later that week, I noticed the Craftsman tote box, I have my go to the engine show tools in, was also gone. Didn't turn it in on my home owners insurrance but it just hurt my feelings that someone would be so low as to steal my tools. The chrome ones were Williams tools that I'd bought over 30 years ago and had taken very good care of. It just overwhelms me that someone would steal from a plain blue collar worker who just tries to be a good citizen. I'd check into enough insurrance to cover most of the cost of what you have. The majority of insurrance will cover about 1/2 of the replacement cost. So, if it's stolen you will still be out a bunch. As Paul Harvey said: It's not, all one world.

[Mike Grivna]

JK and Pat, like you I have a large collection of old quality tools. I've saved every reciept of purchase, took pictures, and paid for an extra rider on my home owners insurance. Same with a number of other items. We've never had an issue but if nothing else, I'll atleast get the purchase price back.

Just a thought, get another larger size tool box, using our "we can fix that" skills, turn it into an false dog house and make it part of the tool box. Imagine the surprise when a thief opens a drawer!!

Mike

[OldironJeff]

A tool box the size of a maintainer truck calls out "steal from me".
All the real techs get by with something that resembles an old bread box..........

[Dale Sorber]

I had a situation similar to this about 20 years ago where for some reason my homeowners policy would not cover my machinist tools that were located at my employers location. I was sold something called an "inland marine policy". I think it was like $100.00 per year for $5000.00 coverage. It was not like the insurance rep. was not familiar with this situation. They were totally up on it. However, as I said, this was 20 years ago.

[Harry]

Don't overlook that many homeowner's insurance policies have a HUGE deductible.

Just a thought, check in with Hagarty.com insurance.

[Fred Van Hook]

I think they call that a "WAR WAGON". Nice tool box JK and I don't think they make any better than Matco. Don't know about insurance??

[pegasuspinto]

Originally Posted by OldironJeff

A tool box the size of a maintainer truck calls out "steal from me".
All the real techs get by with something that resembles an old bread box..........

it's hard to get by on a set of sockets and wrenches and a handfull of screwdrivers, on new stuff. What you see there is about the minimum an automotive tech can get by with these days, unless they are bumming a lot of tools of of other folks....

[ronm]

Originally Posted by OldironJeff

A tool box the size of a maintainer truck calls out "steal from me".
All the real techs get by with something that resembles an old bread box..........

You must not have been around a shop lately...my friend who works at the Cat House had a Snap-On box that cost $10K...sold it to another guy & bought a new one that cost $13K...EMPTY! And I don't think it would be a good idea to "steal from him"....

[pegasuspinto]

suspension, brakes, and a tow bar are getting to be standard on that kind of toolbox-specially at a Cat house, you're tool set is gonna have a lot of the 3/4 and 1 inch drive tools-where the sockets weigh 5 pounds each! The toolbox is gonna weigh well into the tons-at least at a Cat dealer, you should be able to find a machine that can pick it up and move it

Robert

[hometech210]

What a tool box JK! I can understand your concern. Unfortunately thieves don't feel the same way and insurance companies don't always
appreciate the cost of valuable items. Don't forget about Americas oldest insurance, a good sound DOG! I too have many tools for all trades and my protectors are a set of 9 loud barking easily awakened dogs. They sure let every one know what's going on. In 19 years no break ins.

[JKWidener]

Originally Posted by ronm

You must not have been around a shop lately...my friend who works at the Cat House had a Snap-On box that cost $10K...sold it to another guy & bought a new one that cost $13K...EMPTY! And I don't think it would be a good idea to "steal from him"....

Your exactly correct Ron, this box is used and dates to 1997 and cost $18,000.00 then "have original receipt", but to replace it at todays costs. Would be $23,000.00 + tax. Now add in the tools for a diesel mechanic that deals with Cat, Cummins, and International and you run out of room real quick, and add up a tool value into the thousands of dollars.

[JKWidener]

Originally Posted by Harry

Don't overlook that many homeowner's insurance policies have a HUGE deductible.

Just a thought, check in with Hagarty.com insurance.

Just called Hagerty and they do not insure tools used in the line of work. They just insure tools used at home.

[ronm]

Right, JK, I've been accumulating tools for almost 40 years, my "big tool box" now is a Ford F600 w/service body, crane, & 8HP compressor....but in the garage, I have a big snap-on unit, an oak machinist's chest, a smaller steel machinist's chest, my old original 6-drawer Waterloo I started out with, & a couple shelf units... and I'm still buying tools! Mostly machinist stuff now, though, I got a late start on that....
Actually, you've started me thinking I need to check on my coverage, my homeowner's policy is supposed to cover the tools, but I would hate to find out the hard way.

[Ackman]

$10,000 - $18,000 tool box??? Do they hold my Snap-on, Craftsman & S-K tools BETTER than my Farm & Barn $80 one???

[Tanner Remillard]

$10,000 - $18,000 tool box??? Do they hold my Snap-on, Craftsman & S-K tools BETTER than my Farm & Barn $80 one???


Exactly..... My $400 Craftsman box does the same thing. Take tools out of drawer, close drawer, open drawer, put tools back in, lock if necessary. Im not spending another $10,000 for a better lock and gold plated, surface ground, heat treated, diamond encrusted handles either If someone wants to get in it bad enough, they'll get in it!! I think alot of it is an "image" thing. "look what I got" Just like the people who have a lifted up diesel 4x4 truck with 6 inch pipes, 44 inch bogger tires and never take it off the road.

[delmerscott]

I,m thinking you should be able to attach a rider to your homeowners policy to cover the replacement value of your tools

[JKWidener]

Don't get the assumption that i paid that much for this box. Remember, i bought it at an auction, not new. For what i paid, i couldn't of got the Quality in another box this size for the same price. This isn't a "mines better than yours" thread. And others in my shop do play the bigger and better game, and have allot more in their box than i have in mine. Its not how much you have in something that counts, all that matters is that you know how to use it correctly to get the job done.