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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 2017 Trade Risk was awarded a Gold Trusted Service Award for the amazing service we offer to thousands of tradies from around Australia.

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    "the staff were very helpful and response was very quick I would recommend trade risk to others very friendly staff"
    Darren Titford | Tradesman Insurance |
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    "Jennifer was very timely and efficient"
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    "great service"
    The Trustee For Cousins Family Trust | Trade Insurance - Renewal |
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    "We have used Traderisk for our insurances for 6 years now they are always good to deal with."
    | Trade Insurance - Renewal |
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    "Good communication leading up to renewal and maintained good communication whilst seeking new insurers."
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    "Very good. Makes life easy."
    | Trade Insurance - Renewal |
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    "I'm happy with their service and will use them again"
    Horsman Roofing Pty Ltd | Trade Insurance - Renewal |
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    "The bill for public liability went up in a year we were only open half the time"
    Robinwood Pty Ltd | Trade Insurance - Renewal | Mornington
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    "Very fast to reply and informative of all options available"
    | Tradesman Insurance |
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    "Made everything very easy and explained all well"
    David R Ambrosiussen | Trade Insurance - Renewal | Dalby
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    "Quick response, easy to understand"
    | Trade Insurance - Renewal |
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    "Easy, quick and reliable"
    Robert Brown | Tradesman Insurance |
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    "Quick and reasonable price no fuss"
    | Trade Insurance - Renewal |
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    "Jeremy Watkins on top of it, no nonsense, straight to the point, insurance sorted. Hope the same level of service, will apply, in the event of a claim."
    Trykym Pty Ltd | Trade Insurance - Renewal |
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    "Had to wait 2 days for certificate of currency and was unable to work without it. Loss of 2 potential days earnings -$1000"
    | Tradesman Insurance |
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    "Very happy with their service and price."
    Vinh Choi | Trade Insurance - Renewal |
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    "Quick and economical service.To the point and affordable"
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    "Easy no fuss support good flow up and all round great experience"
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