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What you need to know about tool insurance


What you need to know about tool insurance

Prevention is always better than a cure, so we advise people to make sure they have aftermarket locks fitted to their vans to put off would-be tool thieves. However, you should still be prepared for the worst to happen by making sure you have tool insurance

Tool Insurance

Many tradespeople don’t bother to get their kit covered. Which means if you fall prey to criminals you can really struggle to get back on your feet.

When you’re first getting a quote to set up your insurance policy, it’s important to make sure you cover the full value of your tools. Don’t underestimate their worth or you could end up being offered less than you deserve when claiming.

New for old or like for like?

Be aware that not all policies offer new for old cover. Some policies take the tool’s age/condition into account when paying out. If you don’t have a new-for-old policy, you might be offered less for your tools than you originally paid.

Make sure your tools are marked to make them distinctive.

As good practice you should make sure to keep a record of all of your tools including serial numbers and receipts. Also keep photos of any personal markings they may have (see blog post ‘What do you use to mark your tools?‘). This information will help the police and your insurance company if you do fall victim to tool theft. Tools can also be registered online with Tool Trace.

Tool security

Most tool insurance policies will have strict rules on the security conditions of how your tools are stored. It’s important to know what your policy’s conditions are and be sure to stick to them. Failure to do so will probably result in your insurance company refusing to pay out.

Your policy will most likely include information such as the type of place your tools should be kept in, usually a locked building or storage unit, and whether or not your tools are covered if they are kept in a vehicle overnight.

Some policies will not cover you if your tools are left in a vehicle but some will. It’s important to make sure you know what your insurance covers. If your policy does cover tools in a vehicle, there could be specific requirements. These could include ensuring tools are out of sight, the windows are closed and all security measures are activated (doors locked, alarm set etc.). Some policies also only cover tools in a vehicle which is kept in a secure compound overnight, so check the small print.

Making your claim

In the eventuality that criminals do target your van/garage/workshop/house, what steps do you need to make?

Document the damage

You should take photos of any damage. These can be shared with the police to help with their investigations. Your insurance company may also need the photos to help with your claim.

van-door-tool-theft-peel-and-stealDamage from the popular ‘peel and steal’ method.

Notify the police

If a crime has been committed you should notify the police as soon as possible. Sadly, there’s usually not a lot the police can do with cases of theft from a motor vehicle apart from take your details and give you a Crime Reference Number (CRN). This will be needed by your insurance company.

Prepare to make your claim

Before making your claim you should make sure you understand your policy properly. In particular, the excess you’ll have to pay if you claim. This amount can range from £100 – £500 or be a percentage of the overall value of your tools.

Next you’ll need to prepare your evidence. This means digging out those old receipts, photos and serial numbers you have filed away. Never keep these documents in your vehicle or with your tools for obvious reasons. You should also make sure to have your CRN at hand.

Notify your insurance company

Then it’s time to call your insurance – the process differs from one insurer to the next, but making sure you have all your evidence ready should mean your claim can be processed as quickly as possible.

As previously mentioned, prevention is better than a cure, so make sure you have additional security fitted to your van such as locks and tool safes which act as a great deterrent for would-be thieves.

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Paul Randall
Paul Randall
First Class! Dave and the team are fantastic. The fit on our first Mobile Bike Service and Repair Van could not be any better. From the very beginning, through the design process, all the way to completion I cannot fault a single thing. As I write this, our second van is being fitted to exactly the same specification and the third van is on the way. Long may this partnership continue!
Tim Lees
Tim Lees
Very helpful and patient with an older guy who was a bit nervous ordering from a company I didn't know. The product I wanted wasn't on their website but I thought it worth asking and they had it at a good price. It came the next day and worked perfectly.
Richard Shepherd
Richard Shepherd
I highly recommend Lee, Dave and the Team at Vehicle Accessories after they did a fantastic job for a one off bespoke van fit for my business. I approached them with a rather radical high concept idea, Dave did a great job taking notes from my extensive brief. He made a great effort to listen and take notes along the way making sure he understood and made suggestions for materials which really led to a much better end product. A particular highlight was a suggestion for them to fabricate a wall mounted Steal Mesh cage system for my equipment which far exceeded my expectations of quality and engineering. During the planning stage and construction suggestions were made to change materials and systems for what they thought would work better for the project as it developed. The end product was perfect and done to a very high standard, it really turned out better than I ever hoped for. Communication throughout was excellent with regular updates, fast responses and easy dialogue when confirming details or discussing changes. Changes were managed quickly and efficiently throughout the build with a great deal of flexibility and professionalism. Even though I was just having just one bespoke build being done for myself I felt highly valued as a customer and treated with the same level of respect and attentiveness as someone ordering a fleet. The quality of work and customer service will certainly mean I’ll be coming back for my next van project.
Philip Taylor Ashby
Philip Taylor Ashby
Lee and his helpful staff sorted my lock problem that made it easy to break in or steal and at there Christmas closing time🙏, friendly helpful and reasonable thank you all.
Mark Elliott
Mark Elliott
Great choice of equipment to fit and all done efficiently. They have designed and fitted racking to 75 vehicle for us in the last year.
Ross Thomson
Ross Thomson
I can’t recommend Lee and his team of wizards enough. They fitted the gas with all the safety requirements and modified / adapted several parts of the electrics. They went above and beyond my expectations - I won’t hesitate to use them again.
Andrew Young
Andrew Young
What can say.... the order process was simple, prices competitive and when it was realised that I had ordered 2 incompatible parts I got a call to check and recify the order. Collection was easy and the install team did a quick, neat job. Job done....until next time thank you
Annie Meadows
Annie Meadows
Dave, Lee and the team at VA moved crates from my old van to a new one. Easy to communicate with, quick turn around, met all my requests, made good suggestions (such as putting in a waterproof floor) and did an excellent job. Highly recommend.
miles leech
miles leech
Big thanks to Dave and the rest of the Vehicle Accessories team. They've done a great job fitting security locks and a floor in my new van. They also moved over my racking and interior lights from my previous van while going out of there way to make it all fit. Excellent service, very efficient and professional. Highly recommended and nice people to deal with. Thanks Miles Ashton Gas

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