A neighbor borrows your cordless drill for a quick repair, returns it with a smoking motor, and offers a cheerful, “Sorry about that!” Suddenly, a friendly favor comes with a replacement bill.
In many cases, the neighbor who damages a borrowed tool through careless use should pay for the resulting loss. But the answer depends on what happened, whether the tool already had problems, and the laws that apply in your state. Insurance adds another wrinkle, especially when the damaged item costs less than the policy deductible.
