Tools, stock and business equipment insurance

Tools, stock and business equipment insurance

Tools, stock and business equipment insurance is available as an optional extra when you buy our public liability insurance . It covers you against the loss or theft of, or damage to the essential items you need to run your business.

If you have one to nine people in your business you can buy online. If you have more than nine people you can buy Tools, stock and business equipment insurance through a broker.

This product is available as an add-on when you buy public liability insurance from us.

About public liability insurance

Why choose our tools, stock and equipment cover ?

  • Cover your tools, trade stock and business equipment against loss or accidental damage (up to £2,500 cover for any one item).
  • Covers overnight theft from an unattended vehicle, subject to specific conditions.*
  • Up to £500 cover for trade samples and promotional merchandise.
  • Cover for employees’ and visitors’ personal belongings while in your custody and control.
  • If computer equipment can’t be repaired we pay for it to be replaced with new equipment of the same specification. If not available, the next nearest specification.
  • Plus – includes cover for damage caused by you or an employee whilst using tools and/or equipment for personal use.

* Providing, all doors and windows are locked, the keys haven’t been left in the vehicle and any manufacturer’s security device is put into effect.

Why do I need tools, stock and business equipment insurance?

Could your business survive the financial burden of replacing your business equipment? For example, if you run a construction company, how would you cope if someone broke in and stole or damaged your tools?

Whether it’s a laptop, machinery or specialist equipment, you need to consider the effect on your business if you were left without the tools of your trade.

It’s worth thinking about taking out this type of insurance if:

  • You don’t have enough money to replace your trade essentials straight away
  • You need to protect your business essentials at any location, such as your usual business premises, a customer’s premises or a contract site
  • Your home insurance excludes items you use for your business or doesn’t provide a high enough level of cover.

How much cover do I need?

To work out how much cover you need, follow these two simple steps:

1. Add up the cost of replacing all your equipment

Start by writing down how much you estimate it would cost to replace all the essential tools, trade stock (cost price) and equipment for your business. If you have employees and provide their equipment, make sure you include this as well.

2. Check your existing policies to see what’s already covered

Take a look at any policies you already have to see what cover you have in place. You only want to pay for cover you need, so there’s no point paying twice for the same thing.

For example, you might have taken out mobile phone insurance when you bought your phone. So in that case you wouldn’t need to include the cost of replacing your phone when you’re working out how much cover you need.

Have you considered employers’ liability cover?

Cover that protects you against injury or illness claims from your employees. Available as an optional add-on to our public liability insurance.

Find out more about employers’ liability cover

Get a quote for tools, stock and business equipment insurance

You can only buy tools, stock and business equipment insurance as an add-on to our public liability insurance. About Public Liability Insurance.