Tool Insurance
26 March 2007, 12:28 PM
#1
Tool Insurance
Thats the tools that you put in a tool box and not the one you keep in your trousers (who could put a price on that).
I just wondered if people insured theirs seperately or just hoped they would be covered by their contents insurance. Most policies seem to have a single item limit of about £1500 and although no individual item is worth that if someone was to steal my entire cabinet with the tools in it I would probably struggle to replace them for £1500. Has anybody else looked into this? Any advice appreciated from people in the insurance industry or from people who have been unlucky enough to have had their stuff nicked from their garage, shed, workshop etc.
Shane
I just wondered if people insured theirs seperately or just hoped they would be covered by their contents insurance. Most policies seem to have a single item limit of about £1500 and although no individual item is worth that if someone was to steal my entire cabinet with the tools in it I would probably struggle to replace them for £1500. Has anybody else looked into this? Any advice appreciated from people in the insurance industry or from people who have been unlucky enough to have had their stuff nicked from their garage, shed, workshop etc.
Shane
26 March 2007, 12:58 PM
#3
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Me dad had rather a extensive collection of tools he liberated from the store rooms at work before the pit shut down.
He had to name them on the home insurance policy, dont think it cost anything extra just had to let them know.
Same with our fishing equiptment.
He had to name them on the home insurance policy, dont think it cost anything extra just had to let them know.
Same with our fishing equiptment.
26 March 2007, 01:28 PM
#4
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I got tools cover included with my public liability insurance as it was only 15 quid a year extra 
Single tool limit is £2K with a max of £25k in any one claim.
Excludes tools left in vehicles overnight though, so I sometimes leave them on the site if I'm working there more than one day!
Bob
Single tool limit is £2K with a max of £25k in any one claim.
Excludes tools left in vehicles overnight though, so I sometimes leave them on the site if I'm working there more than one day!
Bob
27 March 2007, 09:21 AM
#6
Scooby Regular
I got tools cover included with my public liability insurance as it was only 15 quid a year extra
Single tool limit is £2K with a max of £25k in any one claim.
Excludes tools left in vehicles overnight though, so I sometimes leave them on the site if I'm working there more than one day!
Bob
Single tool limit is £2K with a max of £25k in any one claim.
Excludes tools left in vehicles overnight though, so I sometimes leave them on the site if I'm working there more than one day!
Bob
They are back listed on the Contents insurance like SDW's Dad now though, as I no longer work for myself, and hence don't have the PL.
I learned this one the hard way a long time ago when my folks shed got burgled, most of my tools and my MTB were part of the haul
There was a lot of argy bargy from the insurance company before I got about 2/3 of the replacement value out of them
The real pain in the *** of it is, when you're doing one of those once in a blue moon jobs that you made special tools for, and you realise that you no longer possess said tools
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