Tool insurance / For tradies

Tool insurance for NZ tradies

Indicative cost

$10–$40 per month per $10K of tools indicative. Theft from vehicle (locked, forced entry), site theft, accidental damage, transit loss. Tools left in an unlocked vehicle are typically excluded.

By trade — typical kit and exposure

Builders / carpenters

Typical kit value: $15K–$40K kit

Cover focus: Power tools, framing equipment, on-site theft

Plumbers

Typical kit value: $10K–$25K kit

Cover focus: Hand tools, drainage equipment, vehicle theft

Electricians

Typical kit value: $10K–$30K kit

Cover focus: Testing equipment, specialty tools, theft from van overnight

Painters & decorators

Typical kit value: $5K–$15K kit

Cover focus: Spray rigs, scaffold, ladders

Roofers

Typical kit value: $10K–$20K kit

Cover focus: Safety equipment, fall-arrest, generators

Tilers

Typical kit value: $5K–$15K kit

Cover focus: Wet-saws, levelling equipment, hand tools

Landscapers

Typical kit value: $10K–$30K kit

Cover focus: Mowers, blowers, trailers, brushcutters

Mechanics (mobile)

Typical kit value: $20K–$50K kit

Cover focus: Diagnostic equipment, specialty tools, vehicle theft

What to look for in a NZ tool policy

  • Sum insured: List tools individually if any single item exceeds the per-item sub-limit (often $2K–$5K).
  • Overnight-in-vehicle clause: Confirm whether locked-vehicle overnight cover is included, and the forced-entry requirement.
  • Site theft clause: Confirm secure-site requirements (lockable container, fenced site, security camera).
  • Transit cover: Tools between sites — most policies include this; check whether mid-trip loss requires a witnessed report.
  • Hire-in tools: Some policies cover hired tools while in your care; others require a separate endorsement.
  • New-for-old vs depreciated: Newer policies often replace tools as new; older indemnity-style policies pay depreciated value.

FAQ

How much does tool insurance cost for a NZ tradie?

Indicative $10–$40/month per $10K of tools. Cost depends on tool value, where tools are stored overnight, locked-vehicle requirements, and claims history.

Are tools covered if stolen from my van overnight?

Most NZ tool policies require forced entry and a locked vehicle for overnight theft cover. Tools left unattended in an unlocked vehicle are typically excluded.

What about tools left on a building site?

Most policies cover site theft if the site is reasonably secure and tools are stored in a lockable container or lock-up overnight. Open-site overnight theft is often excluded.

Is tool insurance separate from public liability?

Yes. Public liability covers third-party damage; tool insurance covers your own equipment. Most tradies need both. Some Combined Business Policies bundle them at a lower combined premium.

Get a tool insurance quote

Compare quotes through Evolve Group Limited (FSP711891). Business-insurance enquiries are referred to Blanket Advice Limited (FSP1004126).

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