Add tools cover to your business insurance

Tools are crucial to some businesses, particularly to those in the construction industry and to independent tradesmen. Protecting your tools with insurance means that you’ll have the peace of mind that they can be replaced with a minimum of disruption to your business activities.

What does tools insurance cover?

The level of tools insurance varies. However, essentially it covers your hand-tools, power-tools and equipment for loss, damage or theft. If you store your tools overnight in a vehicle, you can get insurance to cover this circumstance as well. You can also get cover for your tools while they are in transit.

With Simply Business you can insure up to £10,000 worth of tools and equipment.

Details to look out for

• Check the exclusions on the policy documents. For example, your tools may only be insured in a vehicle overnight if the vehicle is locked in a garage.
• Don’t underestimate the value of your tools.
• You can only buy tools cover as an add-on to a business insurance policy.