<iframe src="https://www.googletagmanager.com/ns.html?id=GTM-WCK3FXN" height="0" width="0" style="display:none;visibility:hidden" title="gtm-frame"></iframe>How much is tools insurance? | Trade Direct Insurance
Need a hand? Get expert support on your cover from a real human
0800 0280 380 or

How much is tools insurance?

Anyone working in construction should consider their insurance. When thinking about what you need, you might also want to think about costs. This is especially true with tools insurance, as the costs of not being insured should be weighed up alongside the premium itself.

In this video, part of our Tools insurance FAQ series, we answer the question ‘How much is Tools insurance?’.

What does tools insurance cover?

Tools insurance is designed to cover your tools if they are lost, damaged or stolen. Generally, it covers your handheld tools – both powered and non-powered. It should cover them when they are left in a vehicle or building, provided those places are properly locked and secured.

Who needs to consider tools insurance cover?

Anyone who relies on their tools to work. This includes most trades in the construction industry.

Policies can also cover any employees, apprentices, or trainees.

The need for this type of insurance is universal; it doesn’t matter how your business is structured: i.e. whether you are a sole trader, a limited company or partnership.

Is tool insurance important?

However careful you are, theft of and damage to tools happens often in the construction industry. Having tool insurance gives you peace of mind, and potentially a way of replacing tools quickly.

If your tools are damaged, lost or stolen, you may not be able to finish a job. That could potentially put you in breach of contract, which can have serious consequences for your finances and professional reputation.

In addition, if you can’t work, you can’t earn the money needed to replace your tools.

How much cover will you need?

This will depend on the value of the tools you want to insure. A good way of understanding how much you need is to create a list of your tools. If you have receipts from when you bought them, keep these too.

Once you have your list, you should be able to work out their value and how much insurance you might need. You should be able to get cover of anywhere between £1,000 and £15,000.

How much is tools insurance?

The cost of your tools insurance will depend on the value of the tools that you want to cover.

You may also be able to get tools insurance as part of a package of other types of insurance that your business needs.

Always try to get a reliable quote, which you can do in a few minutes by applying online with a reputable insurance provider.

Popular products

Trade Direct Insurance Services Limited (company number 1580129). Registered office Mill Pool House, Mill Lane, Godalming, Surrey, GU7 1EY. Trade Direct Insurance Services Ltd is authorised and regulated by the Financial Conduct Authority (FCA), firm registration number 307734. You can check this by visiting the FCA website at www.fca.org.uk/register or by contacting the FCA on 0800 111 6768

© Trade Direct Insurance Services Ltd; All Rights Reserved.