Builders can commonly insure portable tools and equipment under General Property cover or, depending on the insurer, under another appropriate section or policy.

The correct structure depends on the type and value of the equipment and how it is used.

Portable tools #

Portable items can include:

• Drills
• Saws
• Nail guns
• Testing equipment
• Hand tools
• Other portable equipment

These items can often be insured under General Property Insurance.

Depending on the policy, tools may be:

• Individually specified
• Covered under a blanket limit
• Subject to individual item limits

Theft and storage conditions matter #

Policies can contain conditions relating to:

• Locked vehicles
• Secure toolboxes
• Overnight storage
• Worksites
• Unattended vehicles
• Evidence of forced entry

Theft cover should therefore be checked against how and where the tools are actually stored.

Tools versus plant and equipment #

Larger machinery such as excavators, loaders and other powered plant will commonly require Plant and Equipment Insurance.

Keeping receipts, photographs, serial numbers and an equipment register can also assist when arranging cover and making a claim.

Contact our team if you would like help arranging cover for your tools and equipment.