Reply by Peter Oxley

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Peter Oxley

1426 posts in 3903 days

#1 posted 10-25-2007 08:02 PM

I can’t speak to a home shop, but when our business burned this spring we didn’t have photos and our receipts were in the shop. Insurance wanted a list of tools, materials, supplies, etc. and their replacement value. They accepted the list of items we generated but checked most of the prices we submitted. Large tools – over $1000 for our policy – have to be itemized and insured individually. Before you clean up the damage, an adjuster comes to see, and takes photos. If you tried to claim you had a $30k machine and they couldn’t see anything bigger than a router in the adjuster’s photos, I’m sure they’d require more proof. But who has photos and receipts for all of their possesions stored off site? If that was required for a claim, insurance would never have to pay out! That being said, having photos of everything is a good idea too, but even a photo isn’t proof of ownership.
No, really, this was in the shop when it burned down!

On the homeowner side – I do know that my homeowner’s insurance policy states that my garage and contents are insured. They know that most people have more than a car and a lawnmower in their garage.

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