A tenant who works a trade carries thousands of dollars of equipment, and a renters policy treats it very differently from a television.
Tools used for work are business property. The limit for them is small and separate.
Three things about equipment you earn a living with.
Equipment used to earn money is business property, limited to a small stated amount on most renters forms regardless of your contents limit. A tradesperson with a full set of tools is outside that cap without owning anything exceptional, and the cap applies whether the tools were at home or on a job.
Theft from a truck is a property claim on your renters policy, not an auto claim, and it hits the same business property cap. It is also the single most common way a tradesperson loses tools.
Inland marine or a commercial tools policy covers equipment properly, usually anywhere it goes, frequently with a low deductible. For anyone whose income depends on their kit it is the correct answer rather than an upgrade.
The equipment that pays the rent.
Almost always more than the business property cap.
In a truck is where they go missing.
Usually, for anyone working a trade.
Tell us roughly what the tools are worth and where they are kept overnight.
We put the tools on a policy that will actually replace them.
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