Tools insurance

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As a tradie, you’ve probably built up your toolbox over a long period of time.

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It’s only necessary, so you can make sure you have the exact right equipment to do quality work. But if something were to happen, could you cover the cost for replacing your equipment straight away?

If the answer to that question is “no,” having tool insurance may be what’s best for you, as the impacts of unforeseen events like theft, fire, floods, or accidents can be devastating.

Prepare your business for the unexpected. Partner with us and learn more about your tool policy options today.

How much does tool insurance cost?

In Australia, the value and type of tools you use in your trade play a pivotal role in shaping your tool insurance cost. Whether you’re a carpenter wielding high-end power tools or an electrician with specialised diagnostic equipment, each set of your tools carries its own risk and replacement cost, which directly influences the price of your insurance.

By engaging with insurers who understand the unique needs of your trade, you can tailor policies to your circumstances that ensure comprehensive coverage without unnecessary extras. This approach allows you to strike a balance that ensures you’re adequately protected against the unexpected.

What trades need tool insurance?

Every tradie, regardless of their specific trade, relies heavily on their toolkit to deliver quality work efficiently. From carpenters and electricians to plumbers and painters, the precision and quality of our work hinges on having the right tools at our disposal.

By safeguarding our tools, we’re essentially protecting our livelihood by ensuring we can continue to serve our clients effectively. Protecting such tools with insurance therefore isn’t just a precaution, but a necessity for the smooth running of a business. It guarantees that, in the face of theft, loss, or damage, we aren’t left scrambling to replace essential equipment.

So, who exactly needs tool insurance? Well, from what we’ve discussed above, we think it’s pretty clear that every tradie does. Why? Because having such a policy provides that extra peace of mind that a tradie’s job and company will remain unaffected in the face of any potential loss of essential equipment.

Man in workshop surrounded by equipment, using an angle grinder with orange sparks flying from the tool
Hand holding electric drill on the side

Is tools insurance really worth it?

We get it. Tools insurance might seem like just another expense, or just another insurance premium to add onto the long list of policies you already have, like public liability insurance. But when you weigh it against the peace of mind and security it brings, it’s an investment that we think you’ll find is worth making.

Think of it this way: your tools are the backbone of your work. They enable you to deliver quality results every single day. The cost to replace them, should something unexpected happen, could be more than just a few dollars — it can be a significant hit to your business. In light of this, tool insurance for tradies offers a safety net; so if something happens, you’re not out of pocket or off the job for long.

It’s not just about covering the basics. It’s about ensuring your business can withstand the unexpected.

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Can I go without tools insurance?

Without tool cover, the financial burden of replacing tools falls entirely on you. This monetary duress could potentially lead to business interruption and a significant dent in your finances — especially if the event that caused your tools to be damaged also affected other areas of your company or life.

When considering the broader scope of any business insurance you may already have (including professional indemnity insurance, public and products liability, general property insurance, and coverage for commercial motor vehicles and portable or valuable items), choosing to skip tool insurance means you’ll be leaving a massive hole in your safety net.

By investing in tradie tool insurance, you’re not merely buying a policy; you’re securing your livelihood, and ensuring that, no matter what happens, you can keep your business running without a hitch.

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Stock insurance

Supply chain disruption can impact the availability of whatever stock or materials you need to carry out your work. Ensuring you have adequate coverage for any stock/materials you may be storing in-between projects is crucial for minimising potential financial loss. It also helps keep your business operations protected against any potential disruptions.

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What is and isn’t covered?

The process of getting tools insurance

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By reaching out to us, you're taking the first move towards safeguarding your tools and, by extension, your livelihood.
Tailor your coverage
Our team is committed to understanding the unique requirements of your business. Once you've initiated the insurance application process, we'll dive into the specifics of your trade — including, of course, the tools you rely on. Together, we'll tailor a policy that covers your needs without burdening you with unnecessary extras.
Review and customise
After identifying the right cover for you, we'll provide an honest assessment of your current situation and our proposed policy. This step ensures that you're fully aware of what your insurance will cover, and, just as importantly, what it will not. It's our way of making sure there are no surprises down the line, so you can make informed decisions.
Secure your policy
With the right policy identified and tailored to your needs, securing your insurance is the next step. We offer flexible payment options to ensure that managing your cash flow is as stress-free as possible. Whether you prefer to pay in one lump sum or spread the cost over several payments, we've got you covered.
Continuous support and advice
Our relationship doesn't end once your policy is in place. We're here to offer ongoing support and advice, ensuring that as your business grows and evolves, your insurance does too. Should the unexpected occur, our experienced team is ready to assist with claims, and will act on your behalf to ensure a smooth resolution.
Regular policy review
We recommend reviewing your policy annually or whenever significant changes to your tool inventory occur. This proactive approach ensures your coverage remains aligned with your needs, and provides peace of mind knowing that your business is protected against unforeseen events.

Why use Tradesure?

The right cover

Find an insurance solution that works for you and gives you the right coverage for your specific trade.

No nonsense

Review your current policy and get an honest assessment of your current insurance and any issues that could affect you should there be a claim.

Support when you need it

If the unexpected happens and you need to make a claim, we are here to go into bat for you. We'll liaise with your insurers on your behalf.

Frequently Asked Questions

Get Covered Now

Don’t wait for the unexpected to happen. Reach out to us today to safeguard you and your business against unforeseen accidents and liabilities.

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