Tool Insurance

Why do I need tool insurance?

Cover for your tools provides you with peace of mind and protection should they be stolen or damaged. With our tool insurance, you know you can replace your equipment quickly and efficiently and carry on with your contracts, ensuring you are not left out of pocket and your business is not interrupted.

Do you cover tools left overnight?

Yes, standard cover includes protection between 9pm and 6am for tools kept in vans in locked premises. We have an option available to include tools left overnight on-site or in a van, on a 24-hour basis, with theft cover following forcible entry to an unattended van.

How much tool cover do I need?

This will depend on your profession, the type, value and amount of tools you use. Your cover should represent the total ‘replacement as new’ value of all your tools. Various limits are available ranging from several hundreds of pounds for small tools to several thousands for businesses using more tools and / or including higher-value equipment.

Check your policy carefully for the single article limit applicable, as this can vary between policies. Superior contracts give up to £1,500 any one item whereas a cheaper policy may have a much lower single tool limit. Make sure you let us know if you have larger equipment so that this can be specified in your policy cover.

What is your standard excess for tools?

The standard excess for our tool insurance is £100. This means that you are responsible for paying the first £100 of the claim for tools.

Does my van need specific security for my tools insurance to be valid?

Yes, when left unattended, you need to ensure that your vehicle is secure, with all the windows closed and all locks engaged. Where alarms are fitted, they must be set. Overnight, the van must be inside locked premises.

Are my employees' tools covered?

No, your employees' tools are not covered.

Our tool insurance policy will cover tools owned by the legal entity shown as the policy holder (whether that is you as a sole trader, a partnership or a limited company). Tools that you supply to direct employees or temporary labour-only sub-contractors in connection with your business activities will be covered.

However, our tool insurance policy will not cover personal tools owned/used by employees, or labour-only or bona-fide sub-contractors.

Do you offer tool insurance on a 'new for old' basis?

Yes, we provide cover for your tools on a 'new for old' or 'replacement as new' basis. Please ensure you keep us updated of the replacement value of all your tools, and remember to keep all the original receipts.

Do my tools present an increased risk to my employees and members of the public?

Failure to exercise prudent proactive risk management will potentially increase the risks of injury to staff or members of the public, as well as the potential for damage to their property.

Firms that have arranged cover to include direct employees or engage temporary labour only sub-contractors must:

• Provide adequate supervision and training to staff – and maintain adequate records to evidence the safe and correct use of tools and equipment.
• Complete regular risk assessments of processes and equipment associated with all your business activities, implementing a safe way/system of work.
• Ensure that the tools you supply, are well maintained and remain in good condition free of defect. You can do this by maintaining an asset register and keeping records of your regular inspections.
• Immediately withdraw / remove any worn or broken tools from a worksite and dispose of them correctly/safely.
• Ensure portable electric tools are tested by competent persons in accordance with applicable legislation.

The above is not an exhaustive list and you should seek guidance from health and safety professionals for full guidance; read more on the Health and Safety Executive's website.

Can you provide JCT insurance?

We know JCT is becoming more and more desired as part of a tradesman insurance policy even though it still remains relatively difficult to find among the various providers.

We pride ourselves on not only being able to source this protection for those looking for it but also being able to accommodate many other types of cover you may need such as sub-contractors cover. Speak with one of our advisers about your needs and how we might be able to help.

What level of public liability do I need?

You need to consider:

• The value, type and occupancy of the premises that you work at: working on high-value buildings or those containing many people, staff or members of the public will present higher risks
• That buildings with high-tech companies or production lines present high-risk exposures
• Your type of work: do you use processes that involve the application of heat or flame?
• Does your main contractor or customer insist on minimum limits of indemnity contractually?

We will give prices on varying public liability indemnity limits to suit your circumstances, so you can make an informed decision.

Where can I find more information about monthly Direct Debit?

To help you spread the cost of your premiums, we offer a quick and easy direct debit scheme for spreading payment over ten months. Please visit our dedicated Direct Debit page.