When I checked a few options, I got a similar scale. Or, people wanted a complete list, which would be unbelievably difficult to produce - I was looking for an agreed value policy. If we're talking new retail pricing, no deal hunting, I was thinking about 100k as a starting number. If we're talking retail, buying tomorrow, no promos, I got 30k worth of boxes alone. That's something to consider, you don't get the luxury of flyer specials or waiting on deals, you'd need the policy to pay out, then you'd need to acquire a new set of tools to do your job quite quickly. Thus your coverage/value amount needs to reflect this.
At $1000/year, over a 30 year career, that's 30k. I would also like to hear from anyone who bought insurance on a large tool collection. I'm only 30, so I have plenty of time to "need" the policy, due to fire/theft/whatever. But as each day goes by, my career is closer to ending, and thus maybe it makes less sense? I've never met anyone personally with insurance, although I doubt most techs could even afford it.
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