It’s a headache most tradesman face every year: finding van insurance they can afford and which will provide enough cover should tools be stolen. While most van insurance policies will cover for the loss of tools stolen from a van there are a number of issues with this.
Firstly, the insurer will put a limit on how much they are willing to pay out for any stolen tools and, secondly, they will insist that the tools are removed every night from the van or they will not pay out for any claim.
Visit any van insurance comparison website and they will all, more or less, have the same terms and conditions. But what if your tools are worth far more than they are insured for?
Then you need to find a specialist who will understand just how important your tools are for your business, and that removing them every night is not always the best chore to face at the end of a hectic day at work.
A specialist van insurance broker for tradesman will also understand that the loss of your tools will also mean a loss of livelihood because you can’t work and they will try to find a policy that will replace stolen tools as quickly as possible.
Specialist insurers will offer a ‘top-up’ for tool cover but keep an eye on the excess amount they expect you to pay – this is the amount you’ll have to pay before the insurer will pay the balance of a claim.
Being self-employed means you have probably invested in specialist tools which may not be easily available which could mean to you turning down work or using inappropriate tools for the job.
It’s an easy option to choose the cheapest insurance on offer but if you have specialist and/or expensive tools then you really should take time to invest in a policy that really will protect when needed. Not doing so will, inevitably, be more expensive in the long run.