Hello everyone, ChrisK started a really good topic and has given great advice so far. Holly crap Charles you got cleaned out for $40k?? All I have to say bud, is you need to get a new insurance agent. Why the hell he never recommended you add business property coverage to your general liability policy is beyond me. This is extremely important and I want everyone here to print this out and save it!!! I also experienced a theft in which our shop was cleaned out for nearly $9,000 of tools which included various powers and almost lead to the theft of our bobcat (luckily I chained the damn thing to the building that night). After this happened I spoke to my insurance agent and he explained luckily that the theft took place on our shop but we were only covered for $3k because I had not bought more coverage. He then recommended I do an inventory of my tools just like ChrisK recommends above. Then I increased coverage on my business policy to match the new tools I had to replace. He then recommended I purchase what is called a floater policy which is used to cover our larger equipment regardless of where it is stored!! We insured our bobcat, several miter saws, hammer drills, along with miscellanious power tools. My agent informed me this policy will now cover all the tools no matter where we take them. I highly recommend you all talk to your insurance agents about this policy to help protect yourselfs. Sorry for the long post.