The last thing you want to do as a tradie is to have your tools stolen, but these things happen and it pays to be prepared. In the situation where you’re facing a claims event, being prepared for when things go sideways is vital for a smooth process.
The most common type of insurance that tradies have claimed for is tool insurance. As a tradie, your tools are your livelihood and without them you may be left unable to work for a lengthy amount of time. Making sure you understand what is needed to make your claim process as smooth as possible can mean you’re back on the tools in no time.
Making Sure Your Claim’s Accepted
Investing in tool insurance is considered important for any tradie, but how can you make sure your claim is accepted?
The most important mistake made by tradies is thinking they will be covered no matter what. Unfortunately this is not the case, and insurers will need you to verify you have secured your tools appropriately.
It’s important that you make sure your tools are locked up securely on both vehicle and premises. It is also vital that while working on site, you ensure that your tools are close by and are not left open to theft. By using various preventative measures you can ensure your claim is accepted and paid out.
How Can I Streamline My Claim?
Sometimes the claim’s process can take longer than expected, but below are ways to make sure your tool insurance claim is paid out quickly. Here is a list of information that the insurer will request:
- Claim Form – Contains policy, equipment and loss details of the claim.
- Evidence of Forced Entry – Usually photo or video evidence of the theft.
- Crime Reference Number – Once a theft has occurred it must be reported to the police.
- Proof of Ownership – Make sure any invoices/ receipts of purchases for big ticket items such as power tools are kept.
- Quotes for Tools – The preferred method for obtaining quotes may vary per insurer, however it doesn’t hurt to have.
An important side note, any tools that are 3 years old can be fully claimed back. However, anything older may be subject to deterioration and depreciation of value.
As always, having the right insurance in place is up to you. For great insurance give us a call.
Let’s talk! There are 3 easy ways to get a quote for public liability insurance:
- Call 1300 540 156 to speak to our dedicated tradie broker team
- Fill out our online Contact Our Experts form
- Go online and fill out the quote form