Quote Quoting magalicious
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Aren't they liable and required to give him at least fair market value for his tools that were stolen?
No.

The person that stole the tools is liable.

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Quote Quoting jk
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He should be insuring his own tools as not even the company's insurance would be liable for payment for his tools.
Correct.

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Quote Quoting Disagreeable
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Though unlikely consult his homeowners policy.
The standard homeowners policy severely limits coverage to $500 for theft of personal property away from the residence premises used primarily for business/work purposes.

Many insurance companies offer small amounts of increased limits for an additional premium but $2000 worth of tools is likely to require the purchase of a "tool floater" policy and might cost $1 or $2 per $100 of value and the items have to be listed.