Most people do nothing and then have a tantrum along the lines of "What do you mean, you only cover $1,000 worth of tools?"
Yes, insuring $300k of tools is outside the norm for your typical homeowner's carrier. If you have $300k of coverage for $50/month, I would keep that and spend your time/energy elsewhere. I wouldn't spend my time shopping around for a homeowner's carrier that will give me a $300k endorsement for my tools. Maybe you get lucky, but how much do you value your time?
Actual coverage is a bit more than half that. Thanks for your input
Have you checked with your current provider to see if they will increase your limit of coverage? If not, I would start there.
Homeowner's insurers are not equipped to properly underwrite such a risk, nor are they interested in doing so. That's why there are limits to coverage for things like tools, guns, fur coats, jewlery, etc. If someone has far more $$$ in items like those than the typical homeowner, the exposure exceeds what they would want to insure.
