Skip to content

Homeowner & Renter Policies

Tools stored in your home or garage are generally covered under the personal property section of your homeowner policy. Key points:

  • Coverage usually applies to theft, fire, and certain natural disasters
  • Tools in a detached garage or shed may have lower limits
  • Power tools and hand tools are typically treated the same
  • There’s usually a sublimit for tools (often $1,500–$2,500)

Renter insurance covers your personal property, including tools, in a rented space. The same sublimits and depreciation rules apply.

  • Tools used for business purposes (even if stored at home)
  • Gradual wear and tear
  • Tools left at a job site (requires separate coverage)
  • Mysterious disappearance (some policies exclude this)

If your collection exceeds the sublimit, ask your agent about:

  • Increasing the sublimit — sometimes possible for a small premium increase
  • Scheduled endorsement — list high-value tools individually
  • Replacement cost coverage — pays to replace, not depreciated value

Having your ToolDB PDF report ready makes these conversations much easier.