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Employee Tool Insurance: Protecting Your Livelihood on the Job

By Dean Laming on February 2nd, 2024

As a tradesperson or contractor, your professional tools and equipment are vital assets enabling you to carry out work and earn a living. However, on job sites risks abound – with threats from theft to damage that could cost you thousands. 

While employees focus on getting tasks done safely, all too often safeguarding their professional toolkits take lower priority.

Theft Increases During Economic Downturns

With the UK economy squeezed, thieves increasingly target tools left unattended by tradespeople on lunch breaks or overnight during multi-day jobs. Most employees expect site managers to have security measures in place, but too often inadequate provisions leave vans and job boxes easy picking for opportunistic crooks who quickly fence expensive power tools or rare manual implements. 

The impact on earnings is immediate once you lack the specialist equipment needed for work.

Accidental Damage Derails Productivity

Alongside criminal activity, accidents also sideline indispensable personal work gear. Tradespeople understand standard company health and safety practices on sites, but amid stressful, complex projects it only takes a moment’s lapse for a dropped saw or a backed-into ladder breaking vital equipment. 

With no contingency budget to replace expensive implements, productivity gets stuck in limbo for however long sourcing new tools takes.

Safeguarding Income Potential

Rather than leaving livelihoods to chance, forward-thinking contractors and tradesmen increasingly look to tools of trade insurance as the answer for protecting indispensable assets from threats on worksites.

Key Tool Insurance Coverage  

While levels vary across providers, employee tool insurance generally encompasses:

  • Theft Protection – Safeguarding equipment kept securely in trade vans, site containers, or locked job boxes when stolen off site or from the premises.
  • Accidental Loss or Damage Cover – Insuring your assets in case of damage due to causes like drops or falling objects.
  • Fire Damage Protection – Covering equipment from destruction in site blazes.
  • Flood Damage Protection – Water damage is also typically covered for work gear on many sites now prone to abrupt floods.

Insurance for Tools Stored Long Term on Sites

Quality policies will also cover personal equipment left at clients’ sites for extended periods when coming and going is impractical. This avoids paying daily van rental fees just to store tools securely offsite. Check that policies explicitly state coverage for unaccompanied overnight storage however, as duration limits may apply.

What Tool Insurance Doesn’t Include

Like any policy, some limitations do apply:

  • Wear and tear causing gradual damage is generally excluded. However, resultant damage from worn tools is often covered.
  • Pre-existing damaged equipment cannot suddenly be claimed against.
  • Gross negligence isn’t covered, like tools left fully unattended and unsecured leading to loss. Reasonable safety is expected.

Keep Contracting with Brisco’s Employee Tool Insurance

Getting comprehensive insurance designed specifically to cover trade tools and equipment enables contractors to continue carrying out jobs safely in the knowledge that their assets remain protected.

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 protect tradesmen against asset loss from theft, damage and more.

Get in touch today and compare quotes. Review protection for your vital tools of the trade so you can keep earning. Our policies secure across key risks like public liability and employer liability so you remain covered across the board on every job.

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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