The tools of your trade are important to your business, considering the kind of business you are doing. So, having the right kind of insurance is important to protect your tools and keep your business going. Here, we’ll learn how to get tool insurance for the business we have at home or in our personal van in the UK.
Tool Insurance UK
You can get tool insurance to pay for the cost of replacing your tools if they’re lost or damaged, for example, because of a fire, flood, or someone else taking them. Tools that are often included:
- Handheld tools
- Power tools
- Plant equipment
In the UK, tool insurance can also be bought as part of your business insurance, like public liability insurance or any other kind of add-on. It could be useful for people who drive vans that carry tools, mechanics, or other people who do work.
What does tool insurance cover in the UK?
Tool insurance can cover different things, but most of the time:
- If you need a lot of tools and equipment, you can buy them for as little as £1,000.
- During the night, your tools are covered, so you can be sure they are safe at all times.
- EU cover if your business does work abroad
- Cover for tools and equipment at home and at work
- Tools in transit cover will protect your tools while on the road
What are the tools in transit insurance?
It will protect your tools and equipment while it’s being driven around, loaded, and unloaded. Because your car is locked and alarmed, you’re usually covered if you leave your tools in there overnight, as long as it’s safe to do so. For example, in a locked garage, in a compound, or on your driveway, to name a few places.
How does tool insurance work in the UK?
As long as you have a certain amount of money, you can ensure your tools and equipment. It all depends on what kind of business you have and what tools and equipment it needs. In the event that your tools are damaged, lost, or stolen, you can make a claim on your tool insurance policy to help pay for the repair or replacement costs of your tools.
What else should I think about when I buy tool insurance?
#1. Excess and possible exclusions
Expenses are the amount of money you pay when you make a claim on something. It’s important to make sure that the deductible isn’t too high when you are looking for a policy for your tools.
#2. The worth of your tools
The value of your tools isn’t something to forget when you’re taking out a policy. Insurance for tools doesn’t always cover the full value. If your tools are worth more than £1,000 but your insurance only covers up to £1,000, then you’d be out of pocket when you needed to make a claim.
#3. Working from home
As a carpenter, for example, you might be able to get insurance for your tools through your home contents policy. This is because you might work from home or keep your tools there most of the time. However, you need to take a look at the value of the tools your home insurance will pay for to make sure it’s enough.
#4. Your work van.
If you have a van for work, you might be covered for your tools through your van insurance policy. You should check this out first.
Tips to keep your tools safe
Here are a few of the best ways to keep your tools and equipment safe:
- As long as possible, keep tools inside overnight.
- You should make sure your van has an alarm and is parked in a safe place.
- Security systems like CCTV can give you extra peace of mind, but they can also be dangerous.
- Mark your tools with your details
- Register your tools’ serial numbers online with a database like Tool Trace
What doesn’t tool insurance cover?
Each type of tool insurance has different situations where it won’t cover you. These are also called “exclusions,” and they’re different for each one. Here are some situations where your insurance won’t cover you:
- Normal wear and tear on your tools. You won’t be covered for things like rust and gradual deterioration, which are not covered.
- Intentional damage. It will be hard for your insurance company to pay you if it finds that you intentionally damaged your tools or that the damage was caused by your carelessness.
- Mechanical faults. Some of the things that go wrong with machines Insurance doesn’t usually cover things that go wrong. You’ll have to talk to the company about this.Â
- Scratches and dents. Insurers will not cover you for things like this because they aren’t worth much.
- Tools that need to be fixed. It won’t pay if someone else damages your tools while you are fixing them. Take it up with the person who fixed it.
- Now let’s see how you can get insurance for your tool in the van
Van Tool Insurance
There are times when you need to move tools as part of your job. If they get stolen or damaged, you’ll want to be covered. Everyone who owns tools should get them insured. Here’s how to do that. With this insurance, you can make sure that your tool and other things in or on your van are covered against theft, malicious or accidental damage. It also costs less than a lot of other things.
Are there any other ways to insure my tools?
People who have van insurance can also get insurance for their tool through another company. You may be able to add tool insurance to other types of insurance, like:
- Public Liability insurance This can also protect you and your tools from damage or theft. But public liability insurance may also cover you for damage caused by you or one of your coworkers, so it can be a good thing.
- Tradesman Insurance. There are many types of insurance for tradesmen, and they can be tailored to cover things like public liability, professional liability, and buildings. They can also protect your tools, equipment, and stock.
Any other things I should think about?
You might need to insure your tools and equipment. There are a few ways to do this, and extending your van cover is just one of them. Here are some things to think about:
- Everyone has a different job, so they will need a different level of protection from the same thing. The policy terms should be carefully read to make sure you have enough insurance to cover your needs.
- Your insurance company will be able to help you go over your plan. It’s so that you can make sure you’re covered and know about any exceptions.
- Insurance is a very competitive field of work. Don’t just accept the first quote you get. You should look around. As a business, you might get a better deal if you buy more than one policy at the same time.
- Let us now take a look at how to get your personal tool insurance
Personal Tool Insurance
You may not be able to work if you lose your hand tools. That’s why at Tools Insurance Online, we make sure you have the right insurance for your tools. You can insure your tools against loss or damage up to £15,000, including theft from vehicles that are locked. You can have peace of mind knowing that your investment is safe.
Your tools and equipment are very important for getting the job done, so make sure you use them. This insurance policy is great for tradesmen who often have tools in their cars and use the tools to make money.
It will pay for your tools to be repaired or replaced if they are lost or damaged when they are loaded or unloaded, carried by, or temporarily housed in your car. This insurance is called personal Tool Insurance.
Read also: Business equipment insurance
What Does Personal Tool In Transit Insurance Cover?
1. Up to £10,000 will pay for the repair, replacement, or rebuilding of property that you own or are responsible for that is lost, damaged, or stolen while in or on your vehicle.
2. There are a lot of approved suppliers in the UK, and they can get to tens of thousands of products.
3. Overnight storage of tools in the vehicle is allowed, but only if the vehicle is in a locked garage or compound, or if it is alarmed, on the driveway of the person who owns the car.
Tool Insurance FAQ
Is there insurance for tools?
Tool insurance can be bought as part of your business insurance, like public liability insurance or any other kind of add-on. It could be useful for people who drive vans that carry tools, mechanics, or other people who do work.
What type of insurance covers tools?
You may be able to add tool insurance to other types of insurance, like:
1. Public Liability Insurance. This can also protect you and your tools from damage or theft. But public liability insurance may also cover you for damage caused by you or one of your coworkers, so it can be a good thing.
2. Tradesman Insurance. There are many types of insurance for tradesmen, and they can be tailored to cover things like public liability, professional liability, and buildings. They can also protect your tools, equipment, and stock.
