Contractor has tools stolen...my job to replace?

[Megan Dettenmaier]

New investor here - my contractor informed me yesterday that my house he's rehabbing was vandalized. They took many tools that totals approx. 10K. He's asking me to contact my insurance to make a claim, however this will obviously impact my rates in the long term. What would you do? He told me he was licensed and insured before I hired him. 

[Karl B.]

He should use his own insurance as you didn't do anything negligent like leave the door unlocked; it's not your fault. 

This situation is no different than if someone breaks into a rental and steals from your tenant; it's not the landlord's responsibility which is why I urge tenants to get renter's insurance.

My handymen/contractors typically take the majority of their tools home each and every day - and always the expensive tools. Your contractor should have done the same.