First Investment Property Broken Into

[Dillon Hamman]

Hello Everyone,

I purchased my first investment property 2 weeks ago and it was unfortunately broken into over the weekend. The thief stole all the tools in the house, some were mine and others belonged to my contractor. I have a couple questions. #1, is it worth having insurance cover the loss for the tools that were stolen? In total, the value of the tools are about $1,500 if I had to guess. While it sounds nice to have insurance cover the loss, I worry about the premium shooting up for investments in the future. Question #2, should I pay for my contractors tools that were also stolen? Question #3, I was thinking about buying a camera to put up at all my properties from here on out, does anyone else do this? If so, any recommendations for a good camera that doesn't need to be hooked up to wifi? Thank you in advance!