Insuring Tools Between Home and Work

My son has recently started as a carpentry apprentice for a local building firm and has spent quite a lot of money on various power drills and power saws. Is there a company that will insure these pieces of equipment?  They are his personal property and he takes them to and from home to work everyday.

Answer:

Does your son live on his own? If so, he should have some kind of renters or homeowners policy. He can simply name these tools on his policy, and obtain extra coverage for them. He needs to be sure that he specifies that these tools will be moving from his home to his place of work and back every day, so that he gets the right level of coverage.

If your son lives with you, you might consider a special endorsement of the same kind on your homeowners or renters insurance. It will likely cause a small increase in your premiums, which your son could pay.

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