Storing planes and insurance question

I store mine in a drawer, usually in their sides mainly because it is a short drawer. In my shop.

-- Gary, East TX -- The longest journey begins with a single step.

I store mine in a cabinet on their sides. I do not have a special rider on my insurance for my tools. If a catastrophe were to happen I would simply rely on the contents portion of my policy to cover their loss.

-- With God's help all things are possible- even woodworking. Woodworking is not just a hobby, it is an (expletive deleted) expensive hobby.

In a box or on a shelf.
On their sides, or on a leather pad.

My tools are insured for as much as the insurance co. would let me.

-- The only easy wood project is a fire

I store mine in a tool cabinet in my shop on their soles. As for the insurance question I was told by my agent that the tools that I have would be covered under my homeowner’s policy unless I use them for business. I am a carpenter and I use my tools for my business so I have to have separate insurance.

-- Joe, Indiana, http://www.crookedshack.com

Maybe its the business part that makes it a “specialty tool.” I’m not sure I need any additional insurance, my tools are worth more than most of my other possessions, so if I had a catastrophe, I’d probably have more than enough to cover the loss.

Right now I’m storing my planes on their soles on a shelf. But I’m thinking I’d like to have a cabinet of some sort.

-- Betsy - GO BUCKS!

Having had a catastrophe (Katrina) my insurance called all my tools “personal property”, which is covered by my insurance.

I managed to save all my planes, but lost nearly all my clamps, 6in Griz jointer, Craftsman Hybrid TS and lots of other “stuff”. Insurance paid well.

BTW, I keep them in a metal tool cabinet now.

Jimmy

-- Jimmy

I believe mine are covered under the ‘contents’ portion. I store my tools in the garage/shop.

-- ....next big purchase is wood for the next project, Mark

I happen to be an insurance agent by trade. Your tools are covered under your homeowners as long as you don’t make money off them. If you do they are Business Personal Property and coverage is limited, you should have some type of Commercial Insurance.

Specialty Items – what the person probably meant is tools are covered for normal value, you lose a hammer you get a new hammer, you lose a plane you get a new plane. If the plane is a collectors item and has a value over the cost of a similar new plane then you have a “specialty” value or beter put collector’s value, policies generally only pay a “utility” value – they pay for “like kind and quality” not the extra value because of it’s rarity.

I asked my agent years ago about this. My agent is not a tool man or woodworker. When I told him the aprox value of the tools I have he was surprised but said it would be covered by my standard policy. Mine are used for hobby primarily.
He did recommend that I take pictures of the tools. Not so much individually but shots of my shop that showed the bulk. So I took a few shots of the contents of my mechanics drawers pulled out and other shots of the larger machinery. Interior of wall cabinets where I store planes and chisels etc. I lined up most of my portable power tools on my bench and took one picture. The biggest job was cleaning up and organizing tools cause I tend to be a bit disorganized.
The agent said one of the hardest things for claimants who have had a fire or break-in is listing the lost items. He said it’s not uncommon for a claimant to suddenly discover something missing a year or two after the loss. Pictures would help.

Ed

I forgot to mention that I store my planes in their own wall cabinet, each with it’s own spot and each on it’s sole. I made a small rabbit for each blade so that the blade is not touching. The only exceptions are a chisel plane and a long wooden plane. The wooden plane sits on it’s butt and my chisel plane is not stored with the blade in.
I store my planes this way because that was the most convenient way to fit them in the cabinet.

Just a tip regarding taking photos. Try storing them online like picassa, photobucket etc. That way if your house is ever totaled buy a fire or something you will still have access to them for your ins. co. even if the shoe box under the bed with the actual hard copy is lost.

Thats a very good suggestion grumpycarp.

Having had a house fire in 2004 (it was a total loss) I can tell you from first hand experience that these guy’s are giving you some outstanding advice. Advice I wish someone had given me before the fire.

I would caution you on one thing; If they are to be covered under the contents replacement portion of the policy you need to review your coverage limits. Even though my house was a total loss and everything would be covered they will still only cover to the limits of the policy.

Lessen Learned: Review / Update your policy every year or two to ensure you have sufficient coverage. I came up way short on my coverage due to that very issue.

BTW, I clean my planes and lube them after use and store them on their soles on a wooden shelf.

-- Chris

Thanks for the responses guys. I am going to work with my agent to make sure I have enough coverage. One thing I have already is replacement cost insurance so that helps.

-- Betsy - GO BUCKS!

I store my few planes on their sides on a shelf mat in a drawer. I try to remember to wipe down after eac use.

-- North Texas

Excellent question and answers folks. I never thought to check our limits on coverage. Priority number 1 today.

Thanks again for your advice and answers.

-- Jerry, Measure 10 times cut once. Set in the foothills of the Smokey's

Betsy, Here’s how you store a plane.

Store your plane out of the rain.
In a house without a mouse.
Hide it well so they can’t tell
Its on a shelf, by itself,
In a some socks within a box.
Always try to keep it dry.
It isn’t meant to get a dent.
Be sure to always treat it good,
Because someday you’ll want to plane more wood.

-- Check out my new website! http://www.theeasellife.com

Blake you are quite the poet!

-- Betsy - GO BUCKS!