Your Tools Are Not Covered by Your Auto or Home Policy
Contractors around Ruskin, Gibsonton, and Riverview lose thousands of dollars in tools every year to trailer and truck theft. Then they discover the hard way that neither the auto policy nor the homeowners policy is designed to pay for it.
Why the standard policies fall short
Auto physical damage covers the vehicle, not the contents. Homeowners policies sharply limit business property, often to a small amount and frequently only while at the residence.
That leaves the tools — the actual means of earning a living — largely unprotected on the road and at the job site.
Inland marine and equipment floaters
A contractors equipment or tools and equipment policy, written as inland marine, covers tools anywhere they travel. Smaller hand tools are typically covered as unscheduled blanket property; larger items above a per-item threshold are scheduled individually by serial number.
Leased and rented equipment can be included too, which matters because rental agreements make you responsible for damage.
Do this before the next job
Build a list with make, model, serial number, purchase date, and cost. That list is both the schedule for your policy and the proof for your claim.
Then pair the equipment coverage with general liability, commercial auto for the work trucks, and workers compensation if you have employees or subcontractors. Send me your tool list and job types and I will price the package as one program.
Frequently Asked Questions
- Does auto insurance cover tools stolen from my truck?
- Generally no. Auto physical damage covers the vehicle itself, not business tools and equipment stored inside it.
- Will homeowners insurance cover my work tools?
- Only to a very limited business property amount, usually while at the home, which rarely matches what a contractor actually owns.
- What is inland marine coverage?
- Coverage for movable property such as tools and equipment, protecting them wherever they travel rather than at a fixed location.
- Do I need to list every tool?
- Smaller tools are usually covered blanket. Items above a per-item threshold should be scheduled with make, model, and serial number.
Let's make sure your coverage matches your life
I'm Chaz Toomey, right here in Ruskin. Send me a few details and I'll review your policy or build a quote — no pressure.