Personal tool insurance

[Davisonp]

Hi,
I am employed by a housing association and they have changed van insurance and made it clear my tools are not insured. I cannot find any company that will insure my personal tools without it being part of business insurance.

Does anyone know a company that does offer suitable insurance?

Thank you.

 

[Dustydazzler]

I have never had specific Tool insurance , does such a thing exist ? I know you can get Gadget insurance for phones , Ipads , Laptops etc perhaps a MFT could come under Gadget insurance ?

 

[loz2754]

Just type tools insurance into Google, plenty of options available.

 

[telectrix]

my PI ( <£100/year) insurance covers tools up to £3000 even if left in van overnight.

 

[Davisonp]

Just type tools insurance into Google, plenty of options available.

Thank you, the problem is they are all attached to business or van insurance.

 

[Davisonp]

my PI ( <£100/year) insurance covers tools up to £3000 even if left in van overnight.

Thank you, that is interesting.

 

[loz2754]

Thank you, the problem is they are all attached to business or van insurance.

Less than 1 minute of googling:
"A standalone tools policy, you only need to buy the cover you need"
Personal Tools Insurance For Tradesman | Trade Direct Insurance - https://www.tradedirectinsurance.co.uk/insurance/tools/#:~:text=A%20standalone%20tools%20policy%2C%20you%20only%20need%20to%20buy%20the%20cover%20you%20need

 

[Davisonp]

Less than 1 minute of googling:
"A standalone tools policy, you only need to buy the cover you need"
Personal Tools Insurance For Tradesman | Trade Direct Insurance - https://www.tradedirectinsurance.co.uk/insurance/tools/#:~:text=A%20standalone%20tools%20policy%2C%20you%20only%20need%20to%20buy%20the%20cover%20you%20need

Thank you, that us brilliant and one I did not find myself.

 

[LukeD]

I only worry about liability .Tools, not worth the agro, straight out and buy again .Jobs cannot wait.

 

[LukeD]

Never ever allow yourself to be in a position where you cannot 'source/buy/scrounge" etc whats needed to be at work the next day etc >Credit card or a sum of money kept only for this event .I know someone who had the site robbed during a 30 min lunch break (had to be an inside job) .It was case of screwfix/tool station for the basics and ebay /facebook for the other items . The job had to continue otherwise it was going to cost him even more .

 

[Dustydazzler]

Exactly LukeD , I have enough old gear on the garage and my dads old tools even if my main tools went walk about I could easily piece together enough old gear , power tools etc to still do 99% of jobs

I do keep my main MFT in the house and which only comes with me when Im doing EICRs and Board swaps etc and comes back in the house

 

[Dustydazzler]

Also if money are really tight you can get some good 2nds on Ebay
I recently picked up near new set of Knipex pliers & Knipex side cutters for 25 quid for the pair

 

[nicebutdim]

Also if money are really tight you can get some good 2nds on Ebay
I recently picked up near new set of Knipex pliers & Knipex side cutters for 25 quid for the pair

People have also been known to pick up the odd set of screwdrivers at a good price on eBay.

 

[LukeD]

Insurance..... you still have to pay out for new tools .They take ages to decide what they will offer you and unless you can show receipts for everything you wont be seeing more than 50% of what they would cost to replace .

 

[Devonchris]

my PI ( <£100/year) insurance covers tools up to £3000 even if left in van overnight.

Does that include cover for the bread trays?

 

[Davisonp]

Never ever allow yourself to be in a position where you cannot 'source/buy/scrounge" etc whats needed to be at work the next day etc >Credit card or a sum of money kept only for this event .I know someone who had the site robbed during a 30 min lunch break (had to be an inside job) .It was case of screwfix/tool station for the basics and ebay /facebook for the other items . The job had to continue otherwise it was going to cost him even more .

Yes, however my situation is different. I am employed and the MFT and power tools are provided by the company and covered by the van insurance. When I joined, the company made a point of saying ALL tools were insured in the van, however, they have swapped insurance provider without letting us know and now our personal tools are no longer insured. We only found this out when a van was broken into recently.
I was self employed and now use quite a few of my bits and pieces (earth clamp meter for example) to help me do a better job.
I have no worries about turning up to a job and not being able to do it because the company has stitched me up.

 

[Dustydazzler]

Using your Own Personal Tools when doing Company jobs they will say is your own choice and own risk if anything go stolen or broken.
But even when I was employed cards in I did actually keep my own Private liability Insurance as for one I did private jobs on the weekends and for two I liked the extra cover in case the company insurance ever stiffed us over.
But I have never had individual Tool insurance, the only thing maybe needs insuring is the MFT but again is it really worth it

 

[LukeD]

Using your Own Personal Tools when doing Company jobs they will say is your own choice and own risk if anything go stolen or broken.
But even when I was employed cards in I did actually keep my own Private liability Insurance as for one I did private jobs on the weekends and for two I liked the extra cover in case the company insurance ever stiffed us over.
But I have never had individual Tool insurance, the only thing maybe needs insuring is the MFT but again is it really worth it

Which leads directly to the "have you ever been paid out and how much effort did it take etc " debate !

 

[telectrix]

l find that the insurance robbers will write down the value of your tools due to how long you've had them, not what it will cost to relace with new tools.

 

[Uplight99]

Tool insurance companies never payout the full price of what you paid.

I had £3000 worth of tools stolen before Christmas and I only got £1200 back through insurance as they take wear and tear of tools into account. It almost makes it not worth it

 

[Uplight99]

l find that the insurance robbers will write down the value of your tools due to how long you've had them, not what it will cost to relace with new tools.

Correct.

 

[HappyHippyDad]

Thank you, that is interesting.

I also have tool cover attached to my PL insurance, up to £5000. I had to pay extra to make sure they were covered over night in the van.