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For Insurance to Protect You and Your Business, talk to PVIB

By Peter Vickers Insurance Brokers | small business insurance, small business, Insurance, tradesmans insurance, tool insurance, underinsurance |

Unfortunately, 1 in 10 Australian businesses with insurance don’t have enough cover to protect themselves against business disruption, legal liabilities or loss or damage to their assets2. - This is referred to as ‘underinsurance’. Read more

The key to getting your insurance right is understanding your policy, what it covers and what it doesn't. - A tradesman’s most important assets are his tools. They can be protected with Tool Insurance.

Many tradesmen make the mistake of choosing the cheapest policy.  Cheapest is not always best  and don’t assume that Tool Insurance is a blanket cover, not all tool insurance policies are the same 

The coverage of your tools will depend on the type of policy you take out, here's a brief overview of what is covered under:

1. Basic cover generally covers Fire/Storm damage (excluding flood) & Vehicle collision/rollover damage – THIS DOES NOT cover theft! and home contents insurance, only covers personal use tools, not tools of trade used in your business.

2. Standard Cover typically covers Fire/Storm Damage/Vehicle collision/rollover damage/theft of tools following violent or forced entry. - This means that your tools need to be stolen from a secure location in order for them to be covered, and there must be evidence that force was used to access them.

3. Comprehensive Cover typically covers Fire/Storm Damage/Vehicle collision/rollover damage/theft of tools following violent or forced entry. As well as Theft of tools in ‘open air’/accidental damage/flood damage - Even with ‘open air’ cover for tools, you will still need a police report of the theft.

Please note this information is general in nature and should not be relied upon as final, it is designed to make you aware of the different tool policies cover.

For the right policy and the right level of protection that suits your budget and your businessTalk to our brokers, we can help -  Call Peter Vickers Insurance Brokers on 1300 784 011.

Check out our Case Study on Stolen Tools

Why choose Peter Vickers? – For dedicated Personal service, Professional results.

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Suite 2/345 Pacific Highway,
Lindfield, NSW 2070

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Peter Vickers Insurance Brokers

Suite 2/345 Pacific Highway
Lindfield NSW 2070
T: 1300 784 011
enquiries@pvib.com.au

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