Tool theft is common across the construction and engineering sectors, so it makes sense to ensure your tools are protected with tools insurance cover. The average tool theft claim in the UK is now estimated at £1,692, according to research by Powertools2U.
You could also find yourself without your essential tools if the is a fire or flood where you store them.
Unfortunate events like these could mean you need to reschedule work or even replace the tools at your own expense, which could involve significant personal costs.
So, extending your tradesman insurance policy to include tools insurance cover could save you thousands of pounds, eliminate stress and help you get back ‘on the tools’ quicker.
Tools insurance will cover damage to tools within the UK, in which case you will be reimbursed for:
Tools insurance cover ranges from £1,000 up to £5,000 in respect of each individual item, pair or set of tools.
Tools insurance is designed for anyone who uses specialist tools to complete their work. Among the list of trades professionals who can benefit from tools insurance are:
|Air conditioning installer||Gardener|
|Chimney sweep||Painter and decorator|
|Double glazing installer||Plasterer|
If you need to make a claim on your tools insurance, it is likely that you will be asked to provide evidence of the tools that have either been damaged or stolen. This will typically be a record of the payment receipts for the items, which you should be able to retrieve from your accounts records.
Three tips to help you easily identify what tools have been taken, if your vehicle or storage facility is broken into.
Tradesman tools insurance will not cover you: