Get loss and damage cover for your tools with tool insurance
Tool insurance covers the cost of replacing your tools if they’re lost or damaged, for example due to fire, flooding or theft. Tools that are usually included are:
Tool cover can be bought as a part of your business insurance, like public liability insurance or any other sort of add-on. It could be useful for van drivers that carry equipment, mechanics or tradespeople.
Tools in transit insurance will cover your tools and equipment while it’s being driven around, loaded and unloaded.
You’re also usually covered if your tools are kept in the vehicle overnight, as long as it’s alarmed and parked securely. For example, in a locked garage, compound or on your driveway.
You can insure up to a certain value – usually up to £10,000 – of tools and equipment. The level of cover you need depends on your business and what tools and equipment it uses.
If your tools are damaged, lost or stolen, you’ll be able to claim on your tool insurance policy to help cover the costs of repairing or replacing them.
Here are a few top tips to help you keep your tools and equipment safe:
Keep tools inside overnight if possible
If your tools are kept in your van, make sure it has an alarm and is securely parked
Security systems like CCTV can provide extra peace of mind
Invisible/UV ink can be a covert way to do this
Register your tools’ serial numbers online with a database like Tool Trace