tool insurance

[mikecotterill]

hi guys can anyone reccomend tool only insurance? ive found a company online called tool insurance online who quoted 105 fo £4000 of tools, sounds too cheap or is it? cheers

[Rupe]

Depends what the small print says.

 

Your tools will probably have to padlocked to your body at all times for the insurance to be valid!!

[Rupe]

It seems to me that the only way an insurance policy is valid is if the tools are kept in such a secure environment that they never get stolen in the first place. See what kind of locks and stuff they require for that policy.

[mikecotterill]

This covers loss or damage to powered and non-powered hand held tools of all types belonging to, leased to, on hire purchase, loan or hired to you or you employees

 

We will not pay for personal tools whilst unattended unless they are contained in:

 

a) a vehicle provided that the doors of the vehicle are locked and all its windows and other openings are fully closed and properly fastened or,

 

b) a locked building or lock storage unit.

 

 

thats about all i can find, although it only covers hand tools so ill have to ring regarding the chipper

[ukminch]

You want old for new tool cover, I'm always sceptical about how much will be covered and the only time I'll find out is when I really need it!! Which hopefully I never will.

 

4k doesn't sound like much cover if your including a chipper??

 

R

[mikecotterill]

i only saw the hand tools part when i put my last post up, i mainly want it for the chipper as its not quite as secure as id like! its only a jb chipper hence £4k.

[18 stoner]

To give you a guide, NFU charge 5% of renew value. Hence for £4k cover premium would be £200.

 

That is new for old and they will pay out "if reasonable precautions have been taken"