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Tools

Insurance for your tools of trade

If one or more of your most important tools were lost or stolen, could you turn up to work the next day and keep working?

Most tradies can’t work without their tools, and if you’re a subbie or self-employed tradesman that means that you can’t earn any money for yourself or your family.

Without tool insurance you would have to dig into your own savings to replace your tools, or worse still you may have to borrow the money from somewhere.

Protect your tools with insurance

The best option for protecting your tools is to have an appropriate tool insurance policy in place.

Tool insurance can be included in your public liability policy, and will cover the replacement costs of your tools if they are stolen or damaged.

In our experience tool cover is one of the most commonly claimed on forms of trade insurance, so it certainly pays to have some cover in place, especially considering how inexpensive the cover can be.

Not all policies are the same

When comparing tool insurance quotes it is very important to remember that not all tool insurance policies cover the same events.

Theft

When it comes to theft, which is the major concern for most tradesmen, many policies are quite different in terms of the cover they offer.

Some policies cover your tools regardless of how they are stored, some cover your tools only if they are stolen from a secure location, and some policies don’t even cover theft at all.

Accidental Damage

There are also differences when it comes to accidental damage. Many policies only cover accidental damage when it is caused by a vehicle collision or rollover, however there are some policies which will cover a broader range of accidental damage causes.

When taking out like insurance it is absolutely vital to read the PDS (product disclosure statement) to ensure that the cover you are getting is what you expected.

Going without tool insurance

There are still plenty of tradies out there who think they can do without tool insurance in order to save a few dollars each week.

Of course we think that all tradesmen should insure your tools, but if not then we at least recommend you read this article that we’ve put together on ways that you can protect your tools.

Quotes and more information

If you would like to obtain a quote on your tool insurance or would just like some extra information, please complete our online quote request or simply get in contact with us.

Tradies Love Trade Risk

In 2020 Trade Risk was awarded the Platinum Trusted Service Award for the amazing service we offer to thousands of tradies from around Australia.

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    "Reasonable value"
    John Alan Dent | Trade Insurance - Renewal |
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    "Extremely helpful and efficient service. Helped me throughout the process, even with silly questions, all on the day my insurance was due."
    | Trade Insurance - Renewal |
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    "I have been with Trade Risk for a couple of years. Their service is how I want to be treated so I keep dealing with them. They call me without fail every year when the policy is due. Great stuff. Should be more of it."
    Gary Rodney Latcham | Trade Insurance - Renewal | Australia
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    "Good ,friendly,easy to understand people"
    Michael Gardner | Trade Insurance - Renewal | Sydney
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    "So quick and easy no fuss"
    Damian Webster | Trade Insurance - Renewal |
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    "Cost effective"
    Joseph Francis Wynen | Trade Insurance - Renewal |
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    "Happy with there work kept me informed Was happy with overall results tgankyou"
    G Burley Plumbing Services Pty Ltd | Trade Insurance - Renewal |
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    "Everything"
    Airlie Beach Painting Pty Ltd | Trade Insurance - Renewal |
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    "Yes Good follow through from Demi Good premium"
    Richard William Morris | Trade Insurance - Renewal |
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    "Keisha went over and above to explain all the relevant info regarding my policy. Highly recommended."
    | Trade Insurance - Renewal |
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    "Trade Risk have provided all my business insurances for a number of years now. Their premiums are competitive and their service and support is excellent."
    Douglas John Hill | Trade Insurance - Renewal |
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    "Able to find reasonable and appropriate insurances"
    | Trade Insurance - Renewal |
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    "Trade Risk makes it easy to assess your insurance needs and organize cover."
    Alister Andrew Campbell | Trade Insurance - Renewal |
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    "Very helpful"
    Bruce Winton Lancaster | Trade Insurance - Renewal |
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    "They took the time to access my business activities , to give me the best cover at a resonable price."
    Gary Lee Halloran | Trade Insurance - Renewal |
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    "Good service, fare price and proactive."
    ADJ Electrical (QLD) Pty Ltd | Trade Insurance - Renewal |
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    "Trade risk make insurance easy, staff are very helpful and great to deal with. Thanks again."
    | Trade Insurance - Renewal |
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    "Yes can highly recommend them"
    Rodney Darren James Haycraft | Trade Insurance - Renewal |
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