Theft/loss responsibility during renovation, owner of or contractor?

[Chad Clanton]

Good afternoon BP, I've got a question for you all and would appreciate input from both the investor and contractor perspectives, particularly those in and around San Antonio. If something were to be stolen during the course of work e.g. materials (flooring, gypsum board, whatever), would responsibility fall to the owner or to the contractor? Does the same rule apply for, say, appliances, fixtures, etc (guessing that would be on the owner's policy)? From the contractors out there, what does your insurance typically cover within this context? Or is it all specified in the contract? I know this thread can be "what-if'ed" to no end, but I'm just looking for the broad strokes. Any input is appreciated, and thanks for all the day to day help as well. Take care everyone, and happy investing!

[Travis Sperr]

@Chad Clanton I have had two properties broken into.

one a small rehab - paint sprayer and some tools were stolen - no material. Contractor told me what happen, I paid for new door that was kicked in, but not the tools. The contractor makes a decision every night when he packs up if he will take the tools with him or leave on site. Leave at your own risk.

7 unit townhome development - broke into and about 20k worth of damage and stolen copper wire, low voltage wire. Contractor paid the deductible on my builders risk policy to get the work redone. 

In any case it depends - if the project is under construction, I lean on the contractor - to lock up, not staging material not needed for a few weeks, keeping site secure. After complete it is all on the owner. I would be likely to replace or split costs on material but not tools. Also an option to insure it all with the right policy.