Find out how your tools are covered by van insurance and whether you might need to take out extra cover.
It depends whether you paid to cover them when you took out your van insurance policy.
Van insurance doesn’t usually include cover for your tools as standard. But you can buy tool cover as an added extra or even as a separate policy.
A tool insurance policy will protect the tools of your trade if they’re lost, stolen or damaged while being carried in your van, when they’re being loaded or unloaded, or when they are left unattended in your vehicle for a short period.
Some van insurance policies won’t cover your tools if they’re stored in your van overnight, so you’ll need to remove them from your vehicle each evening.
This could be a deal-breaker for you if it’s impractical to unload heavy and cumbersome equipment every evening after a hard day’s work.
In that case, check your policy to make sure it covers tools left in your van round the clock.
Policies that cover tools left in your van overnight will usually come with some conditions, for example:
You can buy a tool insurance policy, which is specific cover just for your tools. They’re available from specialist providers.
You may also be able to cover your tools under your business insurance policy.
Some policies are even specially tailored for tradespeople, with more cover for tools included in different scenarios.
It’s a specific type of standalone insurance policy to cover you for leaving your tools in your van.
These policies protect all your tools when they’re being carried or loaded and unloaded from your van. Some may cover them being left overnight in your van, too.
Like other tool policies, they cover the cost of repairing or replacing tools that are damaged, destroyed, lost or stolen.
Check whether ‘tools in transit’ cover is available as an add-on for your van insurance or business insurance too – it might work out cheaper.
The level of cover you need will depend on your trade or business, the amount and types of tools you’re insuring and what they’re worth.
Consider the cost of the excess on any policy you buy. If it’s more than your particular tools are worth, then adding on tool cover to your policy won’t be worth doing.
Check for exemptions. Are your tools covered for overnight storage? And can you meet the security requirements for overnight insurance to be valid?
Does your policy offer ‘new for old’ cover? If it doesn’t, be aware that the amount you’ll be offered in the event of a claim may not be as much as you paid for your tools originally.