Tool Insurance Cover

Finding the right Tool Insurance is simple at Your work tools are a significant business investment which your livelihood depends on. Protect your investment against loss or damage including theft from vehicles and have the peace of mind knowing that your tools are protected. Get a quick online quote now and we’ll help you find the best tool insurance cover available.

Contractors often move their tools from one site to another in their commercial vehicle – these will often be covered by a ‘tools in van’ policy, which is designed to cover equipment carried in your vehicle. Larger equipment which could be fixed the floor in your business premises can be classed as property, and may be covered under your standard business insurance.

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tool insurance coverTools are a large part of many company’s assets and work could grind to a halt and your business income would suffer if they were lost, stolen or damaged. It’s vital that you consider tools insurance – if the worst was to happen your business might not be able to survive without it.

Tools insurance is designed to cover damage or loss of your tools of the trade.  As well as covering your tools  in the UK, many policies also cover loss or damage of your tools anywhere in the EU. This is particularly useful if you undertake jobs overseas.

Most tool insurance policies will also cover your tools if they are unattended, as long as they are in a vehicle and all the doors and windows are properly locked and fastened or they are in a locked storage unit or locked building. As long as you take care to ensure that your tools are properly secured, they will also be covered whilst unattended.

Being without your tools  can seriously damage your ability to earn a living so it’s important that any claims are dealt with promptly and smoothly. Most policies offer a very quick claim turnaround meaning your claim can be settled quickly and you can repair or replace the items that you need to carry on with your job.

Tools can be expensive, complex items.  For larger, high value items, tools insurance will typically pay for repair to the tool if this is practical and cost-effective. If it is not possible or it is too expensive to repair the tool, insurance will typically replace the item on a ‘new for old’ basis.

Most small businesses take out comprehensive policies for general property and liability protection. These policies usually include extras, such as business interruption and tools.

Higher value items such as generators, jackhammers and compressors will be listed separately on your policy but smaller articles like hammers, air guns, punches and wrenches can be included in the policy without specifiying each item individually.

Tools can be stolen, damaged or destroyed. While thefts, vandalism and accidents usually are covered, insurers will not reimburse for willful neglect or use and abuse.

If tools are lost or stolen, make sure to file a police report as soon as possible. Insurance companies require an official statement to a public authority.

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