Tool and Portable Equipment Insurance

Tool and Portable Equipment Insurance covers you for loss and damage to items of portable equipment associated with your business.
These can include tools of trade and items of stock.

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What’s typically covered*?

Loss or damage that is caused by:

  • Fire, storm, water, explosion, impact or malicious damage
  • Accidental damage
  • Collision or overturning of the conveying vehicle
  • Theft following forcible and violent entry to locked vehicles or locked buildings
  • Theft of equipment securely attached to a vehicle through the use of locks or padlocks

Specified portable equipment can include items such as:

  • Mobile plant
  • Photographic or video equipment
  • Mobile communication equipment, including telephones and radios
  • Electronic equipment, including computers, diaries, GPS units
  • Accessories for the items listed above

What’s typically NOT covered*?

Loss or damage to your portable equipment that is caused by:

  • Wear, tear or gradually developing conditions
  • Cracking, scratching, marring or breakage of glass or fragile items or surfaces
  • Rust, oxidation, mildew, mould, moths, insects, vermin, dry rot, contamination or pollution
  • Any process of heating, drying, cleaning, dyeing or alteration to any insured item
  • Faulty materials or workmanship
  • Theft by employees
  • Unexplained inventory shortage

Things to consider

  • Does your business rely on portable property (such as tools)?
  • Would having to replace or repair of the equipment put your business under financial stress?
  • Is your portable equipment stored in the open air or is it secured? Your policy wording is likely to explain how your portable property is required to be securely stored for it to be covered by your insurance.
*As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice.
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