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Tools only insurance

Discuss Tools only insurance at UK Plumbers Forums; Right lads, I'm fully employed by a company and I recently found out that in the event of a company van break in the maximum I could get for my ...
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    SJB
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    Default Tools only insurance

    Right lads, I'm fully employed by a company and I recently found out that in the event of a company van break in the maximum I could get for my tools being nicked is 500 quid. That's far off the actual cost of replacing all my own gear soooooo

    is there anywhere I can get insurance specifically covering loss of tools and nothing else?

    ive had a look and I know it can be added on to public liability insurance but I really don't need that (I rarely do any foreigners anymore) so no point paying for something I don't need, and the only companies google showed me for tools only insurance I'd never heard of, I'd rather go with one of the well known insurers if possible

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    Default Re: Tools only insurance

    use a broker to find some
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    Default Re: Tools only insurance

    Just read the small print a lot of tool policy's only cover power tools upto 2 years old, despite the replacement cost to us they view anything over 2 years as due replacement

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    Default Re: Tools only insurance

    I renewed my public liability and asked about tool insurance to the broker. He said don't bother, it's over priced a db you what they were offering was £1000 cover a max of £250 per power tool, and they had to be in a locked box in a locked building or van.

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    Default Re: Tools only insurance

    Quote Originally Posted by SJB View Post
    Right lads, I'm fully employed by a company and I recently found out that in the event of a company van break in the maximum I could get for my tools being nicked is 500 quid. That's far off the actual cost of replacing all my own gear soooooo

    is there anywhere I can get insurance specifically covering loss of tools and nothing else?

    ive had a look and I know it can be added on to public liability insurance but I really don't need that (I rarely do any foreigners anymore) so no point paying for something I don't need, and the only companies google showed me for tools only insurance I'd never heard of, I'd rather go with one of the well known insurers if possible
    Put the money you'd be spending on insurance into a separate bank account, if/when your tools go missing there's your money you buy your new tools and if they dont then you've still got all your money

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    SJB
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    Default Re: Tools only insurance

    Quote Originally Posted by plumben View Post
    Put the money you'd be spending on insurance into a separate bank account, if/when your tools go missing there's your money you buy your new tools and if they dont then you've still got all your money
    That's like saying don't insure your house just have 150 grand on hand all the time in case it burns down and you need a new one mate

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    Default Re: Tools only insurance

    Quote Originally Posted by SJB View Post
    That's like saying don't insure your house just have 150 grand on hand all the time in case it burns down and you need a new one mate
    Well no not when you get into the small print on most of these things, just like w/m or d/w insurance by the time the warranty runs out and you've been paying insurance for 2/3 years that money would buy you a new machine and most of the fine print gets them out of paying of its x amount of years old

Everybody loves a good deal: Deals and Discounts on Dozens of Powertools!
Everybody loves a good deal: Deals and Discounts on Dozens of Powertools!

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