Tools Insurance

busiscoming2

Hi
Does anyone know of a company that insures tools whilst locked in a van. Have checked house contents insurance and doesn't cover work tools. Public Liability only covers lost on site tools! Any suggestions!?

Thanks

mattymoo

Firstly, public liability cover does not cover your tools at all. It is there to cover injuries to third parties or damage to third party property. For instance, if you are a plumber and you flood someone's kitchen because of a mistake you made, the PL cover will pick up the repair costs.

Cover for tools in vans is something insurers are loathe to provide these days. Every claim we received when cover was available, was for top of the line Snap-On tool sets costing around £6-8k a time.

Household simply will not cover it.
Motor insurance may provide limited cover - say £50.00
Business insurance may provide a fuller cover but they will expect immobilisers / padlocks to be fitted to the vehicle / doors. The premium will also be pretty high.

You do not mention whether you are self employed or not. If you are employed, it is sometimes possible for an employer to add employee's personal tools to their business policy. Depends how generous your employer is.

Most tradesmen have now taken to removing tools from vans out of business hours because they simply cannot get the cover.

busiscoming2

Thanks Mattymoo - Hubby is Self employed and the PL ins will cover lost tools for quite a heafty premium! Think he will have to carry on with no tool ins!