This is why tools insurance is so important for tradesmen. It can help to protect your business and give you real peace of mind.
At Markel Direct, we offer work tool insurance and will tailor your policy to meet your needs. In this guide we’ll look at what tools insurance is, what it covers, and how we can provide the coverage you need.
What is tools insurance?
Tools or toolbox insurance is there to cover the cost of replacing or repairing your equipment if it is damaged or lost, for example due to flooding, fire or theft. It includes power tool insurance, covering equipment such as sanders, drills, nail guns and angle grinders. Handheld tools are protected too, ranging from saws and chisels to hammers and screwdrivers.
What tools insurance doesn’t cover
There are some things that can happen to your tools or equipment that aren’t covered by tools insurance.
For instance, if there’s a fault with one of your tools, you should refer to the warranty that came with it instead – equipment faults are not covered by tools insurance. Ordinary wear and tear is not covered either, and you won’t be eligible for tools insurance if the equipment in question is damaged deliberately by you or a member of your staff.
If you choose to purchase insurance, it's always worth reading through your policy document to be aware of any specific exclusions as these can vary depending on the insurer.
With tools insurance from Markel Direct, you can choose to have your tools covered between the working hours of 8am to 6pm or 24 hours a day. If you would like to have your tools covered overnight, be sure to select the 24-hour-a-day option.
If your tools are covered during working hours only, this means you won’t be covered for any incident occurring outside the hours of 8am to 6pm.
Do I need tools insurance?
Even if you take great care of your tools, there is always a risk that something will go wrong. What if you need tool insurance for equipment left in a van overnight, or while you are parked outside a client’s home? Or perhaps there is a flood or fire in the garage or storage unit where you leave your equipment, resulting in thousands of pounds worth of damage to your tools. Your equipment might also be damaged, or you might suffer tool theft while you’re working on a building site. Having to replace or repair these items out of your own pocket could devastate your finances. And if you don’t have access to your equipment, you might end up letting customers down. As well as being bad news for your bottom line, this can damage your reputation.
By making sure you have suitable tradesman tool insurance in place, you can be sure that even if the worst happens, you won’t be left counting the cost.
Who is tools insurance for?
Tool insurance for tradespeople is designed for anyone who relies on specialist equipment to do their job. At Markel Direct, we offer tool insurance to a full range of other tradespeople, including:
- Builders
- Carpenters
- Mechanics
- Electricians
- Plumbers
- Decorators
- Bricklayers
- Carpet fitters
- Handymen
- Gardeners
- Locksmiths
- Plasterers
- Tilers
- Bathroom installers
See the full list of who we cover here.
Why choose Markel Direct for tools insurance?
Whether you’re looking for tool insurance for builders, plumbers, electricians or any other type of trade, we’ve got you covered. Here are just some of the reasons to choose us.
✔ Impressive customer ratings
You don’t have to take our word for the quality of our insurance policies. Check out our ratings on Feefo.com.
✔ No hidden fees
Our prices are fully transparent. So when you come to us for tool cover insurance, you won’t face any unexpected fees.
✔ Quick and easy quotes
Find out how much you can expect to pay for business and tool insurance by filling in our quick and easy online form. We’ll give you a quote in as little as 90 seconds.
✔ Legal advice whenever you need it
Thanks to our 24/7 legal advice helpline, you can access expert information and guidance whenever you need it.
✔ Decades of experience
With more than two decades of experience in offering tradesman insurance, you can rely on us to provide the tools insurance you need.
How much does tools insurance cost?
Markel Direct offer tools insurance starting from £8 a month*, so keeping your business protected may cost less than you think. Get a tools insurance quote today to see how much you can expect to pay.
How much you pay for tools insurance can depend on a number of factors, such as the amount of tools you needs to insure, the types of tools you own, the type of work you or your business carries out, and where your tools are stored when not in use.
* Price based on £1,000 of tools and trade materials insurance cover. Tools insurance can only be purchased with public liability insurance.
Get a tools insurance quote now
What insurance do tradesmen need?
Aside from tools insurance, there are plenty of other forms of small business insurance designed to protect you and your livelihood when things don’t go according to plan. Take a look at the range we offer below, and don’t worry if you can’t find what you’re after, just give us a call on 0330 822 3533.
