Auto mechanic tools get stolen contained by robbery, but insurance won't cover $20,000 loss??!?
My husband work as an auto mechanic, and need to have his own tools to work. The shop that he works for get broken into yesterday, and stolen his tools cabinet that's worth $20,000. His boss already told him the shop insurance won't cover his tools, since it's his personal property.
We contacted the insurance company for our house, they said the tools are not covered, since it's used for business.
What can we do?
Answers:
speak to a lawyer. first contact always free
Nothing now, it's too behind schedule. If the shop won't cover the loss, which I think is chickensh-t, by the way, you requirement to buy insurance to cover the new tools he is going to buy.
My son is a diesel mechanic and the company he works for insures his tools from theft. He a moment ago has to provide them with a tool inventory.
I'm sorry for your husband, that's a big loss.
I have a similar problem. My home garage was broken in to and my professional tools be taken. The insurance company wouldn't cover them without a rider for "professional tools" in my home garage. I would check next to the shop owners insurance company as to how to procede.
I know that you hold to have a business pursuits rider on the homeowners to cover professional grade tools (regardless if they are for professional use or not) The shop insurance should cover adjectives employee's property on the premesis until it is specifically written out. If your husband is having to supply his own tools, he may be listed as an independent contractor and would not be covered underneath the shop owners policy. You need to sit down with your insurance agent and find out how to be paid sure that your husband is covered. Also, find out from his boss if he is covered for Liability if he damages a car or doesn't put a tire on tight enough and it cause bodily injury to a person. This can get much more expensive than the 20,000 you are out right in a minute.
Speaking as an AIC and former adjuster (I currently oversee insurance claims handling)..... the Boss's policy will usually only cover the Personal Property (PP) that is surrounded by his care, custody and control. Typically, tools that belong to the employee are not covered underneath a business owners policy.
However - if you have homeowner's or renter's insurance - the tools would be covered under that policy. You will own to show proof they existed (recpts, photos, etc) and your policy may only cover actual cash utility (ACV). (The cost of the used item - not the value to replace it..... BIG DIFFERENCE! Most people don't bring back this)
If you can afford a replacement cost value (RCV) policy - go for it. That mode the coverage will pay for the full cost of replacing the item.....
less your deductible as you would expect.
Soooooo....if you've got the coverage...call you agent (or claims dept) and database the claim. $20k is a lot to lose out on.
Goodluck!
~jifr!
Buy more tools. The shop is correct -- only items timetabled on the policy are covered in a loss. It sucks but that's the way it is. Source(s): Claims guy
wow, the same thing happen to me last week, only it be my car that was stolen, and tools of the mechanic, I hear the same thing that much can't be done in the order of the tools, I'm not sure what to tell you aabout that, but in the adjectives, find a way to keep them carefully locked up that they can't be moved or taken. The problem with where I go for my car, I see now that it be not a secure place.
Related Questions:
We contacted the insurance company for our house, they said the tools are not covered, since it's used for business.
What can we do?
Answers:
speak to a lawyer. first contact always free
Nothing now, it's too behind schedule. If the shop won't cover the loss, which I think is chickensh-t, by the way, you requirement to buy insurance to cover the new tools he is going to buy.
My son is a diesel mechanic and the company he works for insures his tools from theft. He a moment ago has to provide them with a tool inventory.
I'm sorry for your husband, that's a big loss.
I have a similar problem. My home garage was broken in to and my professional tools be taken. The insurance company wouldn't cover them without a rider for "professional tools" in my home garage. I would check next to the shop owners insurance company as to how to procede.
I know that you hold to have a business pursuits rider on the homeowners to cover professional grade tools (regardless if they are for professional use or not) The shop insurance should cover adjectives employee's property on the premesis until it is specifically written out. If your husband is having to supply his own tools, he may be listed as an independent contractor and would not be covered underneath the shop owners policy. You need to sit down with your insurance agent and find out how to be paid sure that your husband is covered. Also, find out from his boss if he is covered for Liability if he damages a car or doesn't put a tire on tight enough and it cause bodily injury to a person. This can get much more expensive than the 20,000 you are out right in a minute.
Speaking as an AIC and former adjuster (I currently oversee insurance claims handling)..... the Boss's policy will usually only cover the Personal Property (PP) that is surrounded by his care, custody and control. Typically, tools that belong to the employee are not covered underneath a business owners policy.
However - if you have homeowner's or renter's insurance - the tools would be covered under that policy. You will own to show proof they existed (recpts, photos, etc) and your policy may only cover actual cash utility (ACV). (The cost of the used item - not the value to replace it..... BIG DIFFERENCE! Most people don't bring back this)
If you can afford a replacement cost value (RCV) policy - go for it. That mode the coverage will pay for the full cost of replacing the item.....
less your deductible as you would expect.
Soooooo....if you've got the coverage...call you agent (or claims dept) and database the claim. $20k is a lot to lose out on.
Goodluck!
~jifr!
Buy more tools. The shop is correct -- only items timetabled on the policy are covered in a loss. It sucks but that's the way it is. Source(s): Claims guy
wow, the same thing happen to me last week, only it be my car that was stolen, and tools of the mechanic, I hear the same thing that much can't be done in the order of the tools, I'm not sure what to tell you aabout that, but in the adjectives, find a way to keep them carefully locked up that they can't be moved or taken. The problem with where I go for my car, I see now that it be not a secure place.
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