Insuring your garage?

[STICandy]

Now that my renovations are complete, I have been wondering if I should insure the garage?

Also, how many of you guys have told your home insurance about a lift in the garage and how does it effect your insurance rates?

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[ckyle29]

By all means YES! I'd hate to have to write a big check if it burned to the ground or blew away in a tornado or something. Mine was added as a rider to my homeowners policy so it was really pretty inexpensive for the piece of mind. With State Farm, I just told them how much I had in the build and how much in contents and came up with a figure and that's what it is ensured for. Sorry, I don't have a lift so can't help you with that.

 

[Know Wosad]

Most definitely insure your shop and stuff.. Photo/video, write every serial number./save every manual/. Take more pics. Post them on here ~ !Milwaukee has the heavy duty club. Document your stuff over there too. Milwaukee or not !
Get some Nest cameras and sign up to get the video on the cloud. It'll save you a fortune in insurance costs.
I'm sittin here looking at my shop in town, across the street at my best budz machine shop.I keep an eye on his place too.... my idiot dog in my garage, and looking at my welding table out front. Its all being recorded and I can erase it in the morning. This is SO important. Spend a grand and get it right. Your tools are your life blood....at least mine are.....
If my tools disappear I'm a dead man. If you try to disappear them YOU are a dead man ;-)
I.m watching.....and listening.....and recording. About $1000. Not crazy money

 

[Know Wosad]

My insurance. Fire/Theft/Disaster is $37. month. Zero deductible, $150,000 coverage. I consider that a fair gamble.It'd be quadruple without The measures I have installed.
The idiot sales guy said "This place is more secure than the bank"
Ya got that right bud............

 

[James-W]

Along the lines of insurance, a very good idea is to video tape all the contents of the garage. When you do the video, lay out all your tools and have some familiar face in the video so that everyone will know it is your garage and the tools are yours. If you could have your insurance agent in the video that would be ideal because if he/she was in the video with all the tools, nobody would even question the validity of the loss. Be sure to get closeups of all the tools, and if possible, have the model and serial numbers showing in the video. I realize this is not possible with all the tools, but do the best as you can. Anything you can do to verify that you had these tools and now they are destroyed will be in your favor.

 

[Catadj78]

Along the lines of insurance, a very good idea is to video tape all the contents of the garage. When you do the video, lay out all your tools and have some familiar face in the video so that everyone will know it is your garage and the tools are yours. If you could have your insurance agent in the video that would be ideal because if he/she was in the video with all the tools, nobody would even question the validity of the loss. Be sure to get closeups of all the tools, and if possible, have the model and serial numbers showing in the video. I realize this is not possible with all the tools, but do the best as you can. Anything you can do to verify that you had these tools and now they are destroyed will be in your favor.

Suppose a fire occurred. How can they prove you didn't have what you claim? Although I would expect to be questioned if you live in a 50k house with 20k in Rolex watches. Biggest thing you can do in your favor is do business with a reputable insurance company. Videos and photos may help but really not necessary

 

[ard]

I have a barn/shop here in CA. Structure is 3200 sqft inside, 1500 sqft of covered exterior areas; pretty over the top in terms of ammenities, and wanted to make sure it was covered.

Standard state farm policy is '10% of the main dwelling', which is definitely not enough. Wanted $350k replacement coverage when it was completed in 98 so had agent come out and inspect. No problem, they just need to confirm it exists and the level of quality to support the $$ requested.

I dont know if it is a CA thing, or state farm but each separate structure gets its own '10%' alllowance. You could have 5 outbuildings and get up to 50% if all were destroyed. just FYI- dont assume a separate garage is covered under the $$ amount of the main dwelling/policy. On this policy, both the main and the declared second structure are reviewed for replacement cost perodically.

Agree with the video idea, add an audio narrative of what the tool is, mfg, etc. I include EVERYTHING- shelves, cabinets, wood and metal stock...rims...parts... even if they arent quite in perfect 100% working order too...

 

[Know Wosad]

Make it very clear with the liar in the suit " if this stuff is not here tomorrow you idiots need to write a check so I can go replace it, TOMORROW." Pert # XXXYZZZ is $1300. Write the check.
Make that very,very clear. These clowns are one step lower than lawyers and transvestite hookers.They worship fine print too.
Oh. If you happen to work for them > KMA.OK ?

 

[matt_i]

In my opinion, you should probably consult the value of your life insurance if you are running a lift....seems like if you off yourself due to an accident with it then the life insurance is what you actually want. If you have friends over using it you might want to have them sign a waiver, or up your umbrella insurance against potential civil lawsuits.

The structure is a legit thing. Imo, the other contents are a tossup. Nobody is going to be stealing 5000# machines from my shop unless they are very advanced bad-guys, it would be hand tools and other stuff they could find and I wonder how much stuff could be carried out that would be worth a lot...an oddpodge of Craftsman hand tools probably won't bring a lot...some corded power tools (?)

Insurance is a contract so its important to understand the specific terms and figure out what kind of events aren't covered and if the price you are paying is worth it. The Farmers commercials try to purvey the idea that they cover almost every kind of oddball situation but you can bet they wouldn't if its not in the terms and conditions. The other common ploy seems to be the "new car replacement" insurance where "other guys" won't cover that level of replacement. It's definitely available all over, just at a higher premium cost...

 

[James-W]

Suppose a fire occurred. How can they prove you didn't have what you claim? Although I would expect to be questioned if you live in a 50k house with 20k in Rolex watches. Biggest thing you can do in your favor is do business with a reputable insurance company. Videos and photos may help but really not necessary

I disagree. I don't think the insurance company has to prove you didn't have something, you have to prove that you did. For example, you could say that you had a very valuable painting worth half a million dollars. But if you had a video of the painting hanging on your wall with your insurance agent standing right next to it, how could anyone possibly say that you didn't have it. Besides the video, your insurance agent is your witness that you did indeed have that painting. Photographs and videos are your friend when you are dealing with insurance companies.

 

[unslow1]

I disagree. I don't think the insurance company has to prove you didn't have something, you have to prove that you did. For example, you could say that you had a very valuable painting worth half a million dollars. But if you had a video of the painting hanging on your wall with your insurance agent standing right next to it, how could anyone possibly say that you didn't have it. Besides the video, your insurance agent is your witness that you did indeed have that painting. Photographs and videos are your friend when you are dealing with insurance companies.

Unfortunately I have been there and done that. You are correct in that I had to prove what I had. Luckily with family in the business I knew that and had pics, videos and several of the original boxes and receipts.

 

[Sixfeet4]

Farmers was the only company I could find in my area that would go to $200k for the structure and $100k for contents. Also had to purchase a completely separate flood policy from my house. All the other companies had small % limit caps on outbuildings and wouldn't even touch the contents since my main house was at the cap already. Farmers did not care about the lift, but my agent has a drag car, so he may have just been cool about it.

 

[62blue]

Here is one more thing Insurance Companies like to do is Pro Rate the tools after so many years of use. I have some older tools that are not made anymore that are still very useful in my shop. When I worked in food production I had my tools insured we went on loan to another plant and I along with other mechanics had our tool boxes broke into at that plant and guess what the insurance company did not want to cover our loss. I reminded the guy that we even put extra bars over the original locks to keep intruders out. It took over three months to get reimbursed and then did not want to pay for the full tool replacement. We really got lucky as the company stepped in and covered the rest.

 

[62blue]

I also might add that the company we worked for required that we keep a updated list of tools we had in our tools boxes and lockers. They had taken some pics. too. earlier on but not a complete inventory.

Don

 

[sierradmax]

Look at your current homeowners policy. Mine had a $50,000 binder included in the coverage for "auxiliary structures". I questioned it with my agent and the detached garage is covered under that policy.

 

[493mike]

I have a separate policy on my garage through Auto Owners. My agent came out and inspected and recommended a coverage level-that I agreed to. Later I had a small fire in my woodshop that resulted in a $12,000 loss and it was covered completely. Very satisfied with my coverage.
Mike

 

[Catadj78]

.....

 

[ratdoggy]

Check out a thread of Kevin54 he went through a whole thing with his insurance...
They wanted to make him take a commercial policy since he had a lift.
PM him

 

[reader2580]

I currently have two commercial riding mowers in my garage. I have been assured they would be replaced with new if something happened to them. A new one would be at least $20,000. The insurance company even offered me a $250 a year rider for zero deductible that I declined. I would only replace one of the mowers of something happened to them.

 

[Al G]

If the garage is on the same property as your house it might already be covered. My homeowner's insurance includes $200,000 for auxiliary structures. Most of the value inside the garage is in the cars which have their own policies. Now if you are a business or have a large set of tools and other equipment you might not be fully covered.

 

[STICandy]

If the garage is on the same property as your house it might already be covered. My homeowner's insurance includes $200,000 for auxiliary structures. Most of the value inside the garage is in the cars which have their own policies. Now if you are a business or have a large set of tools and other equipment you might not be fully covered.

My garage is attached. Most of the contents should be covered. The hoist is a gray area as if it was to fail and damage a car(s) that would fall under auto insurance.

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[jywilli69]

I have Allstate. If your garage is on a foundation, it is part of the Home Owners Insurance Policy. If it is a shed, then it is still covered by insurance. If your have a Vintage Drill Press or any other Vintage Tools, definitely find out what it would cost to replace it. If the estimate is $1000, then insurance will have to pony up. Yes, Vintage Tools are Collectibles, and you can get extra insurance for it. Definitely keep good records and photos. If your paying for insurance and yes insurance companies like to be stupid, cover your selves. Have a good attorney in case insurance don't want to do the right thing. You just never know. My home is insured for $200,000, $150,000 for the Contents, and Shed which is 8'x16' is covered for $20,000. For cost of my Vintage Tools, would cost me at least $2000 to replace. That doesn't include my hand tools and lawn tools.

 

[Know Wosad]

I currently have two commercial riding mowers in my garage. I have been assured they would be replaced with new if something happened to them. A new one would be at least $20,000. The insurance company even offered me a $250 a year rider for zero deductible that I declined. I would only replace one of the mowers of something happened to them.

Full and immediate replacement. Nothing else is except-able...or perhaps Acceptable
Dont ask. Demand. These slimeballs can make it happen.....it just cuts into their beloved comission

 

[btdobie]

My policy is through Metlife and it automatically included $20000 for additional structures like my detached garage. It also included a $5000 tool limit for both the house and garage . For only a few dollars more a month, I was able to increase the garage to $30,000 and my tools to $10,000. Eventually I need to accurately calculate the replacement cost for all my tools to make sure I don't need more insurance.

I only have pictures for now, but I need to put together a full inventory.

 

[jywilli69]

If you have served in the Military, you qualify for Insurance through USAA. I hear they are good as well. We are also going to be checking through them as well.

 

[Know Wosad]

If you have served in the Military, you qualify for Insurance through USAA. I hear they are good as well. We are also going to be checking through them as well.

I served. USAA is a clown show.I battled with them in 1992. I won. Just like the military.......Clown show.Disaster.
We have State Farm. They **** too but my lawyer is really good with the fine print.
DO NOT sign into an insurance scam without a lawyer consult. Once again,it'll cost you a couple hundred but they highlight/dot the I's, cross Tees and make the dirtbag initial the changes in the "contract-scam", leaving the company liable for what is in the contract.I can not over-emphasize the importance of this.
Sorry for the overall negativity but as tRump would say......."these people are killers".You cant be too careful. Finance, Insurance...whew. It aint easy. Take help.
Stay one step ahead and don't trust the smile....its a lie.

 

[NUTTSGT]

By all means, call your agent and get coverage or check out what you have, I have seen too many people (renters) lose everything in a fire because they thought it would cost too much. Once they find out that a small amount of coverage $10-15k would probably only cost them $125/yr, they get a rude awakening.


Our homeowners policy pays 10% of the total of the house for my garage plus I have an extra $30k attached on top of that.

 

[dw1]

I bought a couple of acres about 1 mile down the street from me, (It was a jungle) I level it, tear down structures ect, it has a 116 Y.O farm house on the property (I need the farm house to build my new pole barn (PB cant be first/only structure on residential lot in county) but old farm house is half gutted, it is unoccupied and not livable, my insurance company will not insure anything there because of the old farmhouse, they introduce me to a "Hi Risk" policy with another company, I get the pole barn built and just finally tore down the old farm house, High Risk Policy $600 ish a year, cancel that, now have rider on my homeowners for $43 a year and more coverage. Crazy, but I did it to have insurance there. Hopefully in the next few years I will build a house and move there.

To add to the post above me:
my zero turn is covered but my 4 wheeler is not, over there.

 

[James-W]

My garage is attached. Most of the contents should be covered. The hoist is a gray area as if it was to fail and damage a car(s) that would fall under auto insurance.

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I am not sure how it would work if your vehicle was wrecked because the lift failed, or if the vehicle fell off the lift and got smashed. Generally speaking, your auto insurance is in force when you are driving the car, or if you are legally parked and the car is vandalized. If the car is wrecked while being repaired, I would tend to think the automotive insurance would not be responsible for paying the claim. I just plain don't know how that would work.

 

[synchro7]

About 10 years ago a good friend had his shop broken into. Most of his hand tools, and a lot of other stuff was stolen. At first the insurance co didn't want to pay anything, said he didn't have what he claimed. He shows up at their office with a stack of receipts 12 inches tall, made them read and log every one. Then the dirt bags decided they had to depreciate the tools because they were used. Now the fight was on to get the IDIOTS to understand Snap-On tools have a lifetime warranty whether worn out or broke. He still only got 60 cents on the dollar after fighting with the jerks for a year.

 

[gnpenning]

I've been going through my policies with my agent recently. Much of what we do is a word game. I don't have a shop I have a hobby area. I won't be getting a lift but a parking lift. I don't receive remuneration for anything done there. That would make it commercial and would need a commercial policy.

I don't have hay in my barn but I do have feed that looks the same.....

I've got a great agent that is retiring and wants to make sure I'm protected.

The verbiage we use can make the difference between getting rejected or paid. No reason to create a hassle when there is no need.

 

[Jeepster04]

Funny this thread just popped up, I called one of my insurance companies just before this thread was made.

Im currently building a garage on a piece of property with nothing else on it. Called the insurance that I have my vehicles through and they seemed like they are not going to give me a policy. Said they would call me back, that was on 12-12...

I've not called the insurance company that my house it through (Farm Bureau). They arent as nice to deal with but they are cheaper on home owners... Yet the other one is cheaper on vehicle insurance (state farm)...

 

[STICandy]

Funny this thread just popped up, I called one of my insurance companies just before this thread was made.

Im currently building a garage on a piece of property with nothing else on it. Called the insurance that I have my vehicles through and they seemed like they are not going to give me a policy. Said they would call me back, that was on 12-12...

I've not called the insurance company that my house it through (Farm Bureau). They arent as nice to deal with but they are cheaper on home owners... Yet the other one is cheaper on vehicle insurance (state farm)...

Unfortunately I have found out the hard way in the past that cheaper isn't necessarily better.

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[tacostand]

Most definitely insure your shop and stuff.. Photo/video, write every serial number./save every manual/. Take more pics. Post them on here ~ !Milwaukee has the heavy duty club. Document your stuff over there too. Milwaukee or not !
Get some Nest cameras and sign up to get the video on the cloud. It'll save you a fortune in insurance costs.
I'm sittin here looking at my shop in town, across the street at my best budz machine shop.I keep an eye on his place too.... my idiot dog in my garage, and looking at my welding table out front. Its all being recorded and I can erase it in the morning. This is SO important. Spend a grand and get it right. Your tools are your life blood....at least mine are.....
If my tools disappear I'm a dead man. If you try to disappear them YOU are a dead man ;-)
I.m watching.....and listening.....and recording. About $1000. Not crazy money

Please post video of the dog.

 

[Kevin54]

Now that my renovations are complete, I have been wondering if I should insure the garage?

Also, how many of you guys have told your home insurance about a lift in the garage and how does it effect your insurance rates?

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I had a thread on this a while back. I added onto my garage and also added a lift. We had a little problem at first due to the fact that they wanted to make me take out commercial insurance because of the lift. All due to the fact that I had the "potential" to start a business. After some discussion back and forth, they finally dropped that ****. But I made the agent come out, and we went over everything about the garage. The garage itself, plus the contents of the garage. They only had me down for a couple of thousand dollars in tools. Once I showed them what I have, and what things cost, they raised the insurance quite a bit. IIRC, and I'd have to find my policy, but my garage alone is insured for something like $100,000. The contents, when I showed them my mills, my lathe, surface grinder, bandsaw, shear, and so on as far as the big tools.......then all of my hand tools as far as sockets, wrenches, and such....then I had my machinist tools, which are not cheap. When you have brand name equipment like Mitutoyo, Browne & Sharpe, they carry a hefty price tag. Just that tool box alone is something like $10,000 if I had to replace everything. I think I am covered for like $50,000 in contents of my garage.

But it only added something like $150/year additional for the garage. Again, I would have to find the policy and read it.

But to answer your question if I haven't, you definitely want to insure your garage, and have the agent come out. A lot of people don't like agents coming out because it will raise your premium. But if you look closely at a [policy, something like a garage is a basic minimal price, and only insured for something like $15,000 on your homeowners policy. No one can build a garage for that today. When I built my garage back in 1999, I built it myself for something like $17,000. That was for a 28'x36' garage. In 2015 I added a 28'x36' addition on at a cost of $55,000. a HUGE price difference. Plus it is fully insulated, drywalled, electric, and two propane furnaces, one to heat each section of garage.

One other thing I did bring up to the agent when she was here.....Chemicals, paint, and Oxy/Acet. outfit, and gas cans, and if it would raise my premium. She said it would not. She did suggest though that I notify my local fire department, and let them know what was in the garage and where, just in case there was ever a fire. So I did. Now whether they made note of it or not, I don't know.