Tool insurance can cover the cost of replacing or repairing your tools if they are stolen, accidentally lost or damaged. Each insurer may have different limits, cover options and exceptions, so it’s always worth checking the ‘Summary of cover’ document or policy wording provided before taking out a policy.
Generally speaking, you can cover a range of portable tools, as well as some business equipment under a tool insurance policy, including:
- hand tools, such as screwdrivers, spanners and saws
- power tools, such as drills, sanders and angle grinders
- plant equipment (hired or your own)
- laptops and tablets
- mobile phones
- TVs and printers
The types of devices and tools you can insure under a tool insurance policy may vary between insurers. Depending on your trade, business equipment insurance could be worth investigating instead of tools insurance as it can cover laptops and mobile phones. This varies by provider so it’s worth checking which product is most suitable for your needs.
When you get a quote, you can give details of the types of tools and equipment you want to insure, so that your policy can be tailored to your business’s specific needs. Click ‘Get a quote’ above to get started.