Insurance (tools)

[sparky6078]

Can anyone recommend an insurance company? the company i work for has told us we need to sort our own insurance as thay have limited insurance (1000) for tools on there vans, if an engineer has more then 1000 worth of the re own tools on one of there company vans then there need to get further insurance cover! i have had a quick look and most insurance companies don't like insuring personal equipment in a van that is not owned by that person. Anyone come across this before?

 

[Engineer54]

Gotta be joking only a £1000, that'll just about cover a couple of decent drills and a MFT tester!!!

Sounds like a real decent employer you have there ...NOT!!!

 

[sparky6078]

Gotta be joking only a £1000, that'll just about cover a couple of decent drills and a MFT tester!!!

Sounds like a real decent employer you have there ...NOT!!!

Don't get me started my friend, i was carrying my own tester (normally they supply) my own drill, hand held tester, hand tools etc. I managed to get 1000 out of them and that took 2 mths and now they have brought this out with the insurance.
I'm looking what is about don't worry! Prob is i enjoy the area of the industry i am in to much.

 

[telectrix]

don't be tempted to put your tools on your all risks home insurance. you'll find that tools "connected with a trade or profession" are excluded. it might be an idea to get your own PL insurance ( especially if you do foreigners) and get tool cover with it.

 

[sparky6078]

don't be tempted to put your tools on your all risks home insurance. you'll find that tools "connected with a trade or profession" are excluded. it might be an idea to get your own PL insurance ( especially if you do foreigners) and get tool cover with it.

Funny enough thats what my company said 'can you claim on your household insurance?'
i told them where to go.
might look into the PL insurance as thinking of doing some self employed work anyway, thanks for that.

 

[uksparks]

I just renewed mine with niceic insurance and got the tool cover up to £10k, they did have to check with the underwriters though as its double the norm.

 

[PEG]

Does anyone you know have a successful claim outcome with them? I have found most have restrictive terms,usually somewhere in small print,angling them away from standard theft scenarios. Check for new-for-old,multiple claim for same item (3 drills,3 vacuums etc),time and range limits.

 

[sparky6078]

I've been told you can't get new for old policies on tools! The problem is my own personal tools are in a van not owned by myself and we cover the whole country so you be in London for a few day then Derby the next.
I have one company that said they would insure me if I fitted a better alarm and additional doors locks.
But I'm not paying to improve someone else's van and then paying for the insurance as well, I think the company has some responsibility to provide more cover surly, some of the blokes have said all tools off apart from hand tools and told the company they need to supply the rest!

 

[Risteard]

some of the blokes have said all tools off apart from hand tools and told the company they need to supply the rest!

Assuming that you are an employee then I would only expect that you should be providing hand tools and that everything else should be provided by the Company.

 

[sparky6078]

this is my thought as well. but getting them to pay out is not easy at all.

 

[Farmelectrics]

how much does the niceic charge

 

[uksparks]

Every time I buy a new tool, I take a close up photo of it, I then have a spread sheet with it broken down into hand tools, power tools, books, PPE etc, the item then gets listed in there with price paid, description, and the filename of the photo and any serial number, if its got a serial number I also take a photo of it. This file and all images are then stored online. I also PDF a copy of each receipt where possible and tie this to it.

I then dab some Smart water on the item (got a kit and annual licence that does about 600 items). At least I know, if it all got stolen, I can hand over all he proof that I owed them and its covered I Smart water, even my screwdrivers. I actually spent two days documenting every single tool I own, every book / reference material, PPE the lot, basically anything to do with the business.

Having all copies of receipts, photos and serial numbers, and 10k of insurance does give me peace of mind. Maybe over the top, but I like it. My tools are covered anywhere, so long as they are secure, so either in ANY locked vehicle, or my house, or stored in a locked room or locked house that Is owned by a third party.

 

[uksparks]

how much does the niceic charge

I am paying £52 per month, but that includes in the one policy:

- £10,000 tool cover
- £2,000,000 Public Liability Insurance
- £100,000 efficacy cover
- £250,000 Professional Indemnity Insurance