Tools & Equipment
Add Tools of Trade Insurance to your policy to protect your gear with more than lock and key.
Protect your Tools, Protect your Trade
- We cover physical loss, destruction or damage - to help cover costs when things go wrong.
- We cover theft - insurance is a handy next step to protecting your tools after lock and key.
- We can cover tools & equipment that you've hired - just give us a call and we’ll help you add them temporarily.
Get specialised cover for your most important tools.
Up to $25,000 cover for your tools.
This includes:
- $5,000 cover for Unspecified Tools - this covers up to $5,000 in total for tools you haven’t listed on your policy, for a maximum of $1,000 per item.
- Up to $20,000 of cover for your more valued tools - just list them on your policy as a Specified Item, up to a total of $20,000.
- Trailers and mobile plant - you can cover trailers and mobile plant when you specify them on your policy.
What does Tools & Equipment Insurance cover my gear for?
What am I covered for?
Tools insurance is designed to help protect your gear when the unexpected happens. With VIZ Insurance, if you’ve selected Tools of Trade cover, you’ll be covered for things like theft (following a forced entry), fire, flood, earthquakes, or even damage from a car crash while your tools are in transit.
Keep in mind, items over $1,000 in value need to be listed individually to be covered.
What am I not covered for?
As much as we’d love to cover every situation, our cover does have its limits. For example, we don’t cover tool theft from the open air; leaving gear in the back of the ute or lying around site overnight won’t cut it. After all, if you aren't going to look after your tools, why would we?
We also can’t cover you for general wear and tear, damage from electrical surges, vermin damage, or tools that break down from overuse or age. For full details, make sure to check the policy wording or feel free to reach out - we'd be happy to help you through it.
BUILT FOR AUSSIE TRADIES
Frequently Asked Questions - Tools of Trade
As with a lot of tradies insurance policies, Tools of Trade cover is an optional extra which you can add to your policy.
Each policy starts with your choice of $5 million, $10 million or $20 million of cover for Legal Liability insurance, and then afterwards you have the choice to add up to $25,000 worth of tools insurance.
The cost of tools insurance depends mostly on the value of the tools insured, and the excess chosen to go with it.
Unlike legal liability, the premium you pay for tools insurance is not affected by your occupation. No matter whether you are a landscaper covering his lawn mower, or a chippie covering his favourite cordless, it is the total value of the items that affects the premium.
Selecting Unspecified Tools cover on your policy provides $5,000 cover for tools & equipment to a maximum of $1,000 per item. You do not need to specify or list your tools and equipment under this coverage section. Tools and equipment successfully claimed under this section will be subject to depreciation at 20% each year from the date of manufacture, up to a maximum of 50%.
Specified Tools can be added to your policy in addition to Unspecified tools. You can have up to $20,000 of specified tools and equipment on your policy, for a total of $25,000 of cover. You must specify the tools & equipment that you would like insured under this coverage section.
Tools and equipment successfully claimed under this section will be subject to replacement value. In addition to tools and equipment, you can also specify trailers and mobile plant.
VIZ's Tools of Trade cover does not include Portable Electronic Devices, motor vehicles, caravans, watercraft, aircraft or aerial devices and the accessories of any of these (whether fitted or not), stock in trade or raw materials of any kind.
We consider a Portable Electronic Devices to be a portable lightweight electronic device less than 4 kilograms that is battery powered and capable of voice or data communications - including but not limited to smartphones, tablets, and laptops. These are items that VIZ will not cover.
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*data is based upon VIZ Insurance customers' claims over a four year period.