Van with damaged door following tool theft

Tool theft is one of the biggest concerns that faces the construction industry and is the lifeline of any self-employed tradesman. We spoke to Troy Stevens from Rhino Trade Insurance to get his advice on what we can do about tool theft.

In this article we want to highlight the importance of Tools Insurance, and why having the right cover in place is a valuable weapon in any tradesman’s arsenal.Whatever your trade, covering the value of your tools could be the difference between being able to get back to work or sitting on the sofa with no pay packet!

What is Tools Insurance, and What Does it Cover? Quite frankly, you can have all the knowledge, and years of experience, but without your tools, you can’t get much done. Whether you’re a plumber or a carpenter, your tools are what makes you the trades person that you are, therefore protecting them really is just good business. That’s what Tools Insurance is, good business.

We are Rhino Trade Insurance, and our handy policies cover the cost of repairing and replacing any tools you have insured. We also cover you if they are lost or damaged (see, told you they were handy!). What helps us stand out from the rest is that our policies cover your tools when they are ‘in transit’, ‘in your parked vehicle’ or ‘whilst loading’, which means they are covered 24/hours a day.

You can buy Tools in Transit Insurance with Rhino via the U-PRO insurance shop in minutes, and can choose the level of cover you require, from £500 to £10,000 cover. Rhino’s Tools Insurance starts at just £3.75 a month - an absolute bargain, less than a frothy coffee from Costa!

Van with broken side door following tool theft

Why Do You Need Tools Insurance?

For any self-employed professional, insurance really is one of the most important tools in your bag. Whether it’s covering you for accidental damages caused to a customer’s property or providing you with an income if you cannot work, trade insurance really is a vital commodity for your business.

Research tells us that approximately 1 in 3 tradesmen have their tools stolen at some point during their career, and over 50% of tradespeople know of someone who has suffered tool theft. These stats can make your blood boil quicker than the site kettle and reinforces the importance of having the right protection in place should your tools go ‘walkabout’.

Replacing stolen tools can end up costing you an arm and a leg, and chances of police finding your stolen tools are nigh impossible! This means that your business’ finances could be in serious jeopardy if your tools get stolen without the right level of cover in place. Even worse, you could be out of action for a few weeks whilst you work out how to replace the equipment that has been nicked - further putting you out of pocket.

We want to get you back on the tools as quickly as possible, so get a quote today here.

Have you been a victim of tool theft? Do you think tool insurance is important?

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