How to Get Insurance for Your Toolbox If You Are a Mechanicby Todd Bowerman
When working as a mechanic, it is inevitable that you will accrue a wide variety of tools. These tools, when totaled together, can often be worth thousands of dollars and are difficult to replace in the event that they are lost or stolen. There are companies that are specifically dedicated to providing toolbox insurance to mechanics and other people who rely heavily on tools to perform their everyday tasks.
Consult with your shop foreman to ensure that your tools are not already covered by the shop's insurance policy. While most shop insurance policies do not cover individual mechanic's tools, it is always best to check before purchasing your own.
Take stock of all of your tools and try to assess a total value. It is a good idea to make a list of your tools and what each one is worth --- this will help you to find a total and will also aide in cataloging possible losses.
Contact a tool insurance provider and get a quote on a policy that works for you. As an example, Garage Guys and Pro-TEC both have various levels of coverage for up to $50,000 worth of tools.
Fill out whatever paperwork is required by the provider you choose to finalize your policy. Making sure the paperwork is completed correctly is a critical step in covering your tools.
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