Tools of Trade Insurance
10 November 2021
Tradies definitely can’t work without their tools!
Your tools are one of your biggest assets, and you have made a considerable investment in building your kit. So it makes perfect sense to make sure you have a Tools of Trade insurance policy to protect yourself financially, in case they are stolen or damaged.
Tools of Trade insurance will cover the tools and equipment you use everyday, and will provide the financial assistance to repair or replace these items in the event of theft and accidental damage.
Protecting your tools
Mark/ID your tools - engrave your tools with your name or driver's license. Not only is it an excellent deterrent, but it can also make it more difficult for thieves to dispose of, and easier for police to find you to return them if they are found (which is more often than you think!). It also helps to mark them in an obvious way (like coloured paint marking), so they are not accidentally picked up by another tradie on the job site.
Lock up your tools - always make sure your tools are secured at the end of the day - and even when you step away for short periods. Make sure your toolboxes, vehicle, jobs sites and home have good security and locks.
Insure your tools - having the right cover is essential. Insurance will protect you financially if your tools or other equipment are damaged or stolen.
Handy tool tip
Make sure that you keep your receipts for all the tools you purchase, or take photos of all your tools and kits and their serial numbers.
It is amazing how many items you build up, so keep a comprehensive record of each and every tool, from your most expensive power tool right down to every drill bit and screwdriver.
This means if something does happen and you need to report the theft to the police - you have everything handy. If you need to make a claim, you can provide evidence to the insurer without delay, so the claim will be settled and you can get back on the tools - fast!
All it takes is 5 minutes!
Whether you're a plumber, carpenter, landscaper, electrician or other tradie, we've got you covered.