Tips For Preventing A Tool Insurance Theft Claim
The team at Rhino Trade Insurance have been championing tradesmen and women up and down the country for years. Having our finger firmly on the trade insurance pulse, we continue to hear countless stories of unfortunate tradespeople who fall foul to tool theft. That's why we wanted to spend the next 5 minutes talking about why Tool Insurance is beneficial to all our friends in the trades.
At Rhino Trade Insurance, we focus solely on trade insurance for the millions of self-employed men and women up and down the country. We offer various cover options for Public Liability Insurance, Van Insurance, Income Protection and many more. Today, our focus is Tool insurance and how to avoid making a claim.
It's a hard fact that 1 in 3 tradesmen have fallen victim to tool theft, and of all the trades we cover, 50% know someone who has had their tools nicked. It's a heartbreaking stat, especially as we know one of the main reasons tradesmen and women love their jobs is due to the hands-on nature of their trade. It's what makes it all worthwhile. Going into a customer's home, onto a building site or into a local business and fixing an issue with your knowledge, tools and insight - really is a joy to behold.
The True Cost Of Tool Theft
Let's be frank, a tradesman's tools are their livelihoods. Would you be able to work your trade without your tools? No matter if you are a plumber, electrician, bricklayer, joiner or any other trade. The tools you have are fundamental to getting your work done, and we all know they don't come cheap. Ask yourself, do I have a spare £2,000, £3,000, or even £5,000 lying around to replace my stolen tools? If the answer is no, Rhino's Tool Insurance costs as little as £3.75 a month and covers the cost of repair or replacement should your tools be stolen, destroyed or damaged.
The team at Rhino Trade Insurance aim to give the highest standard of service on the market. However, a claim will take time to process, so you could find yourself unable to work until your tools have been replaced. That's why we want to share helpful tips to prevent you from having to make a tool insurance theft claim.
Let's tackle tool theft together.
From speaking to our friends in the trades, we have found that tool theft is the number 1 concern for most tradesmen. It's a daunting situation to find yourself in and one that can make you feel powerless. But by following some of these simple hints and tips, you could ward off some of those selfish criminals.
- Keep your information as up-to-date as possible. Bought a new tool? Log it in a 'tool document'. Got a receipt? Store them in a folder (even if your misses complains about the mess). Got a camera? Take photos of all your tools, keep all of the serial numbers listed down and make notes of any minor marks that would separate it from the rest.
- Join local social media groups to keep yourself updated on crime in your area. You will find plenty of locals posting pictures or videos of attempted thefts or who to watch out for. Also, check out groups (mainly trades) that share about their equipment being stolen. This will help you know what's going on in your local area and also help you keep a lookout for any unsavoury characters or already stolen tools if…
- If you purchase any tools second hand, be sure to check the seller's background. Do they have any reviews? Do they have a receipt or proof of purchase? Is the price too good to be true? If alarm bells are ringing, you could be holding stolen property.
- Finally, If you are on the receiving end of tool theft, make sure to inform your local police as soon as possible. This will give you a crime reference number that will be useful when making a tool insurance theft claim.
Tips on Preventing Tool Theft
In a perfect world, we'd all be able to sleep soundly with our tools safely locked in our vans. But these days, thieves will use any means necessary to get into your private spaces and steal your most important equipment. For true peace of mind, you will want to have followed a few practical procedures to ward off those pesky criminals.
The most obvious - Bring your tools indoors
This might be the most obvious but not necessarily the most practical. It all depends on the size of your business and how much equipment you use. We have met plenty of tradesmen around the country and have seen their vans. They usually take great pride in the layout of their vans - tools hung up, bits and pieces stored away, and of course, a tub of Big Wipes typically stuck to the side. So although this sounds like a good idea, it's not always going to be as straightforward as carrying a tool case every evening.
Change or upgrade the locks.
No, not in your house to keep the misses out. But on your van. If you have an older van, chances are the locks may be easier for criminals to break in. We at Rhino always recommend considering deadlocks. Another good idea is to consider a slam lock if you are prone to leaving your doors open whilst working.
Get a state-of-the-art alarm.
How often do you hear of a tradesman getting their van doors peeled and their tools gone in a flash? Installing a quality alarm can stop these crooks in their tracks or even be loud enough to alert you to some suspicious behaviour.
Some last tips.
There are many ways to try to deter a criminal. You could slap a bumper sticker on your van that says 'no tools stored in this vehicle overnight', mark your tools so that they are clearly identifiable should they go walkabout or store your van in the most secure lockup around. The problem is, there is no absolute way to guarantee your tools will be 100% safe - banks get broken into, and they have significant security, so there's always a chance that your van will be hit.
Tool Insurance from Rhino Trade Insurance is, of course, an optional commodity, but with all the 'what ifs', why take the risk and potentially put your business out of action for a certain amount of time?
For as little as £3.75 a month (the price of a meal deal), Rhino Trade's Tools In Transit covers you if your tools are stolen or damaged whilst in transit, meaning that if your van is stolen, you'll still be covered.
Should you be worried about when you are covered, our policy works on a per-vehicle basis and covers any tools that are 'in transit, 'in your parked vehicle', or 'whilst loading'. Simply put, your tools are covered whilst being taken to or from your van or whilst temporarily stored in your vehicle.
Already got trade insurance with Rhino? It's easy to add tool insurance to your current policy. We offer the following coverage to any tradesman looking to insure their tools:
- We offer cover from £500 to £10,000, and that includes any damage or theft to your prized possessions.
- Do your tools need repairing or replacing? Cover the cost now, and don't forget, Rhino's policy protects your tools even if your whole van is stolen.
- Overnight storage (subject to security conditions)
- Get covered in an instant. Your documents emailed to you in a matter of seconds - not minutes!
- It's almost 2022. Who doesn't offer monthly or annual payment options? We do, for your ease. Also, added bonus - no interest on Direct Debits (woohoo, we hear you say!)
- Finally, we offer fantastic UK telephone support. Our team are based in the UK, are actual humans and are lovely - give them a ring if you need anything six days a week.
Time to Cover Your Tools with Rhino
Head on over to our simple and easy to use online quote system. In a matter of 60 seconds, you will have a quote tailored for your business without having the hassle of entering all your personal details. It's got to be said that Tool Insurance won't stop the criminals from trying to steal your equipment. However, it will make falling foul to tool theft more bearable as we'll help you get back on your feet as quickly as possible.
Get in touch with one of our UK team if you have any questions. We are available six days a week to answer any queries you may have.