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Electrician Tool Insurance: Securing Your Tools, Securing Your Business

By Dean Laming on February 2nd, 2024

As electrical tradespeople recognise, specialist metres, testers and connectors making up electrician’s tool kits represent major business investments, with comprehensive gear enabling diverse projects. 

However, components prove extremely intricate, featuring circuit boards, custom wiring and sensors that fail easily if dropped or struck. Meanwhile, compact size and high functionality make them prime theft targets, but without these tools enabling skilled work, business income soon dries up.

Safeguarding Your Livelihood Assets

While electricians readily install intricate alarm systems and lighting protection for clients, many neglect equivalent coverage on their own mobile assets at risk on the road and client sites from theft, accidents or storms.

Insurance helps professionals concentrate on installations rather than worrying about vulnerabilities facing complex equipment that is transported daily. 

Why Off-the-Shelf Insurance Falls Short

Non-specialised insurance policies lack suitable protections for electrical gear used professionally long-term, including:

  • Low limits unable to replace commercial-grade metres and diagnostics
  • No coverage for theft risks with tools briefly unattended
  • Exclusions around tools worn and damaged through work use
  • No provisions for major equipment damage disabling incomes

By contrast, electrician tool insurance delivers bespoke protection for specialist tools at reasonable rates.

Key Risk Exposures Facing Uninsured Electrical Tools

In evaluating electrician equipment coverage, underwriters weigh threats to highly portable electronics and custom tools used across sites:

Opportunistic Theft

Even brief instances of neglect tempt thieves to grab expensive diagnostics kits and uncommon tools.

Traffic Impacts

Congested maintenance sites, home driveways and roadside repairs all leave tools vulnerable to being struck by vehicles and equipment nearby.

Storm Damage

Wind, flooding and sudden temperature changes can compromise electronics, such as sensor rods and voltage pens not designed for harsh conditions.

What Does Electrician Tool Insurance Typically Include?

Common policies adapt to diverse electrical equipment but often cover:

  • Diagnostic – Multimeters, thermal cameras, signal tracers
  • Hand tools – Lineman pliers, cable shears, fuse pullers
  • Power tools – Drills, threaded rod cutters, conduit benders
  • Safety gear – Insulated mats and testing suits

Supplementary Electrician Equipment Also Protected

Other vital apparatus ensuring effective electrical work receives protection too, such as  lockable tool storage to minimise risks in transit and on-premises, as well as component spares like custom wiring and circuit tester lead. 

Key Policy Terms Advantageous for Electrical Trades

Look for advantageous specialty contractor insurance provisions like:

  • Extended absence coverage for unattended tools protected overnight
  • Full replacement value reimbursement without depreciation
  • Global protection on tools transported for overseas projects
  • Public liability shielding third-party electrical incident risks

What Electrician Tool Insurance Doesn’t Handle

Whilst insurance defends from common risks, impractical expectations cause problems. For example, policies exclude:

  • Wear and tear over years eventually causes tool failure – though damage arising from tool faults may qualify for coverage.
  • Tools left fully unattended without any safety precautions in place to prevent theft – gross negligence voids claims.
  • Pre-existing damage before insurance activation – worn tools requiring replacement cannot suddenly be claimed against. 

Shield Electrical Livelihoods with Brisco’s Electrician Tool Insurance 

Brisco Business understands the livelihoods of tradespeople depend upon protecting specialised tools and equipment against workplace mishaps. That’s why we offer tool insurance policies tailored to safeguarding electricians against asset loss from theft, damage and more.

Get in touch today and compare quotes to protect your electrician business from disruptions keeping you from jobs.

Dean Laming

Dean is a Chartered Insurance Broker with more than 25 years insurance experience. Through various underwriting, operational and management roles, Dean has built up extensive knowledge of how to run a business and is now Managing Director of Brisco Business, part of the wider Henry Seymour Group.

All articles by Dean Laming

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