Tools insurance, otherwise known as general property insurance, is a cover that protects your work equipment in the case of accidental damage or theft. It is a tradies worst nightmare to realise that they have been a victim of tool theft. Tool theft is incredibly interruptive to business. Not only is it inconvenient to deal with, but it can fully halt your productivity until you can afford to source new equipment. This is a negative experience for you and your clients. Unfortunately, in Australia tool theft is a common experience. Tools insurance with All Trades Cover can offer peace of mind, financial protection and security. You can have confidence knowing that you will be reimbursed for the cost of your tools or that your gear will be replaced, ensuring your speedy return to work. 

How can I cover my tools?

At All Trades Cover, we offer comprehensive property and tools insurance that can cover you in the event of equipment theft or accidental damage. To find the best level of cover for you, we recommend looking in your toolbox and evaluating the cost of each item. If you have large power tools that may have a higher value, we can offer extra cover to suit your specific requirements. Remember that each item big or small can contribute to the flow of your business every day. Jump online and use our instant quote tool to get fast advice. At all Trades Cover, we offer tools insurance starting at a minimum of $5000 cover. We offer monthly repayment options and free legal advice.

What’s not covered by tool insurance?

Generally, an insurance company will evaluate how your tools and equipment were stored before paying out a claim. If the items were stored in a locked toolbox or within a locked vehicle, there must be evidence of forced or violent removal. This would usually be evident with broken padlocks, a smashed window or. If the items were not secured, they may be considered as “open-air” and therefore will not be covered under tools insurance as they weren’t protected to begin with. There are some other circumstances where your items may not be covered such as intentional damage to equipment, general wear and tear, mechanical faults, flooding and theft by a trusted person (someone with access to tools via a key or alarm code). Our team at All Trades Cover can assist you with any questions regarding the above points.

Advantages of getting tools insurance

  • Covered if lost, damaged or stolen
  • Avoiding debt- Tools are expensive and replacing them all at once can be crippling to one’s bank account!
  •  No loss of work, tools are replaced or repaired promptly
  • Cover if a vehicle accident or collision occurs resulting in damage to gear
  • In some cases, fire and storm damage

Be sure to record serial numbers for your tools, engrave them with your details and keep receipts as an extra safeguard. Don’t overlook the importance of tools insurance.

For more information, call our team at All Trades Cover on 1300 826 850

Get a Free Quote Today!

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