What is trade tools insurance?
Trade tools insurance is designed to cover the cost of repairing or replacing your tools if they’re stolen, damaged, or lost. Whether you own a single toolset or a van full of specialist equipment, this type of insurance gives you peace of mind that your livelihood is protected.
The best part? Suited tools insurance is flexible. You can tailor your policy to cover tools in your van, during transit, or even when they’re stored in a van overnight.
What does trade tools insurance cover?
A good tools insurance policy covers a variety of scenarios to help you get back to work quickly after an unexpected loss. Typically, all tool insurance cover will take care of:
Replacement costs
If your tools are stolen or damaged beyond repair, your policy will cover the cost of the replacement. Most insurers will replace your tools with like-for-like items so you can continue working without any unnecessary delays.
Repair costs
Sometimes, it’s easier and quicker to get your tools fixed. Provided the cost of doing so is reasonable, your insurer will help cover the costs of fixing them. This ensures you can get your favourite equipment back in working order.
Tools in transit insurance
Your tools go where your work is. Tradesmen move about all the time, and tools in transit insurance is a must-have, covering theft, loss, or damage.
Whether you’re driving to a job or stopping to buy stock and materials, you want to be sure tools are protected, no matter where your work takes you.
How much tools insurance do I need?
When selecting a limit, ensure the policy limit represents the total amount of your tools. If you select lower and all of your tools are lost, you may be left out of pocket.
