There is a £100 million-a-year problem facing our industry: tool theft.
Sadly, tool theft is on the rise. On average, a van is broken into every 23 minutes in the UK and around 62 thefts happen per day. This totalled a massive 22,749 thefts in 2017 alone – a rise of nearly two thirds since 2015.
Tool thieves steal people’s livelihoods – without their tools, tradespeople are unable to make money to support their families. Many are self-employed and do not have the luxury of a guaranteed wage or large savings to cushion the blow of theft.
Fighting the epidemic: a new insurance product
ECA has secured a Member-exclusive tools insurance arrangement with Covermytools to help minimise the impact of tools theft on businesses. Members are entitled to a 5% discount off regular rates.
Covermytools provide protection for loss, damage or theft of hand tools and portable power tools in the UK (or anywhere in the world for up to 30 days).
Covermytools can cover tools worth up to a maximum limit of £10,000 per insured person, with no inner limit to the value of any one item.
Does this cover theft from unattended vehicles or buildings?
Absolutely! Covermytools recognise that some traditional insurance policies for tools exclude some of the most obvious risks. They have a scheme which provides cover for theft from unattended locked motor vehicles or a locked store or building.
What is covered?
- Specialist cover for all types of handheld tools and power tools
- Theft from unattended locked vehicles or buildings as standard (no additional excess applies)
- Cover limit options from £1,000 to £10,000 per person
- Choice of excess options from as low as £50
- Damage or Theft in the UK or anywhere in the world up to 30 days.
- Premiums start from as low as £50 per year.
Simply click go to eca.covermytools.co.uk and complete the short online form to receive a quote. Alternatively, ECA Members can call Covermytools on 0330 100 0450. Don’t forget to use the referral code ECA5 to get a 5% discount.