Garage Tool Insurance

Discussion in 'OT (OFF Topic) Forums' started by brucemillar, Mar 13, 2017.

  1. brucemillar

    brucemillar MB Club Veteran

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    Folks Following on from recent post regarding labeling toolbox drawers. This got me thinking. Having now cleaned, sorted, and stored every single tool in nice tool boxes (several) It would/could be wise of me to insure these? Has anybody taken out specific tool insurance for a private garage/house? I would guess that I have several thousand pounds of tools and cabinets stored in my garage and would hate to lose them only to discover I do not have specific cover, or that I should had had specific cover? Do you do this with your Contents Insurance? Car Insurance? Individual Policy? Who do you use. Any real life stories of having to use insurance for this?
     
    Last edited: Mar 18, 2017
  2. Meldrew2

    Meldrew2 Hardcore MB Enthusiast

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    Standalone policies are usually dearer - if only because of the extra admin. Not always though - we have a separate jewellery policy that was much less than it would have cost as an add-on to the home insurance.

    I was told (years ago) that "home contents" included tools in a (locked) garden shed. Best to ask your insurer to be certain though...
     
    Last edited: Mar 13, 2017
  3. moonloops

    moonloops MB Club Veteran

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    Don't bother. Put the cost of premiums in a pot and spend it at your leisure.
     
  4. Darrell

    Darrell Hardcore MB Enthusiast

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    As he said.
     
  5. CaptainChaos

    CaptainChaos Hardcore MB Enthusiast

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    Check your home insurance for what is covered in out buildings. Some will let you add to it. Some... you might find you aren't covered at all.
     
  6. Pontoneer

    Pontoneer MB Club Veteran

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    I think some specialist Classic Car policies offer cover for spare parts , and possibly tools ?
     
  7. toolman1954

    toolman1954 Hardcore MB Enthusiast

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    Mr Millar ..Sir.... you have two of the finest guardians of the gates of hell living with you. If I was driving a Transit ( nudge nudge wink wink say no more ), seeing a photo of them nailed to your gate would see me merrily on my way. I would think you have all the insurance you need in those 2 furry friends.

    Steve
     
    1 person likes this.
  8. l5foye

    l5foye Hardcore MB Enthusiast

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    My advice is to insure your garage contents. Often they will be covered under your house contents policy but sometimes only up to a certain percent. I had a break in some years ago and the insurance payout was reduced because of the limit on the house contents policy. More recently I carried out a valuation of the contents of my garage (based on replacement costs) and I was staggered to discover that it would cost well over £10000 to replace everything. As a result, I made sure everything is fully insured.
     

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