HI, hoping a few tradesmen can help on this one. My son has started a building apprenticeship and is carrying a load of tools in his car. This isnt covered on his current car insurance and I wondered how other tradesmen go about getting cheap car insurance that covers them for having tools in the car when they go to a job. He is on mimimum wage so can't afford a massive monthly insurance bill but also can't afford to buy new tools if they are nicked.
curlcrown,
Apr 14, 6:25pm
That leads me to another question. If he is on minumum wage why is he using his own tools?
,
Apr 14, 6:30pm
he had to purchase them to do the job - it seems to be standard
intrade,
Apr 14, 6:33pm
FMG only inurance to give money if you have to/
gph1961,
Apr 14, 6:49pm
twaddle
stevo2,
Apr 14, 7:10pm
Standard in the building trade, everybody supplies their own tools. Other tradies sometimes let apprentices use their tools but they are expected to buy their own as soon as they can. Apprentices that dont return tools at the end of the day soon get turned down when they ask to borrow next time. Sorry op, I dont know the answer to your question as I have never insured my tools. Some of our team do but I dont have any details.
kazbanz,
Apr 14, 7:20pm
Sorry but CHEAP /INSURANCE/COVERS TOOL LOSS you have to remove one from the list. Please forgive me seeming flippant but that's the reality, I WOULD suggest he has a GOOD alarm fitted which will at least discourage the toerrags
,
Apr 14, 7:25pm
I have spoken to a few insurers including his current one and they don't cover tools
duncb,
Apr 14, 7:47pm
I used to work in insurance some time ago. Private insurance on vehicles is for private use and does not cover any work use or work items. Business insurance is expensive. There is no cheap answer. The best thing is to not leave tools in the car if possible and if they are, to keep them hidden. Leaving them overnight in the car near, or on the street will almost certainly result in them being stolen at some stage. As suggested a car alarm is a good solution. I am not sure if a good one is much better than a cheap one as it only takes 30 seconds to smash a window and take a few thousand dollars of tools away
wasgonna,
Apr 14, 7:57pm
Could the tools not be covered on yours or his Content Insurance. Obviously I don't know where son lives but if renting or flatting he should, these days, have content insurance and if home then under Dads cover.
jkp58,
Apr 14, 8:08pm
He can take out separate insurance on his tools. Thats the best way to make sure hes covered.
gabbysnana,
Apr 14, 8:37pm
Boys bring theres home every night and empty the truck into the garage and back into the truck every morning. Truck is locked at work. Do what you gotta I guess.
saxman99,
Apr 14, 8:51pm
I have a similar situation but with music instruments and gear. I asked my insurer about it and they agreed to treat it the same as a tradies tools under a business policy, the cost isn’t too bad, I think it’s about $900 a year for 30k cover.
cessna3,
Apr 14, 9:16pm
Home contents, private car insurance doesn't cover trade tools & equipment. You can get insurance for just the tools using a company like Builtin Insurance.
budgel,
Apr 14, 11:27pm
Some years ago I looked at insuring my carpentry tools. They would have only been covered in securely locked premises or a vehicle rollover, and the premiums were high. I felt that wasn't where my exposure was, so decided against it. Securely locked out of sight in a well alarmed vehicle was the option I took.
tygertung,
Apr 15, 8:11am
Maybe have the tools in a sort of box trailer, and park that in the garage and lock it. Also that way you can have a normal car (wagon or sedan) and just tow the trailer, and can easily use the car for other use without emptying it.
tygertung,
Apr 15, 8:12am
How many tools does a builder require? What is the cost for a set of building tools?
Would it be possible to self insure? Say if you need $5k of tools, just start saving up $5k and put it into an investment fund?
phoenix22,
Apr 15, 8:17am
Tools would not be covered under a vehicle policy, they are contents, or business tools. Some contents policies do have limited cover for business tools, you'd need to check your wording (or his wording if he lives alone), and see what provisions are in there.
stevo2,
Apr 15, 9:42am
A carpenter would be expected to have approx $10k invested in tools by the time they finish their apprenticeship. The figure will grow from there as they need more specialised tools. A chippy will probably have $20k worth after 10 years if doing good residential builds. These figures will be lower if doing commercial or group housing builds. Im up to about $40k plus a van although I only carry about $10k worth in the vehicle. I self insure my tools as I park in my locked basement at night.
tygertung,
Apr 15, 10:05am
Put $38 a week into an investment fund, after 5 year should be well over $10k by then with all the compound interest?
frytime,
Apr 15, 10:43am
My contents insurance covered my tools on the back of my ute as long as the tool box was locked the ute and covered ie tarp when parked at home.
budgel,
Apr 15, 10:52am
Have you checked deposit interest rates lately? Almost non existent.
intrade,
Apr 15, 11:07am
i would only buy the cheapest tools and paint them ugly . and only buy the good tools you really need every day and sleep with them tools.
stevo2,
Apr 15, 11:26am
Ummmm. You dont just go and buy $10k worth of tools the day you finish your apprenticeship, You buy $2k to $4k worth each year for 4 years. Hard to put money aside for that, insure those tools and put aside the extra $38 when the OP said they were on min wage.
pauldw,
Apr 15, 12:35pm
Apart from the usual personal tools how much duplication would you expect on one of your sites? Site saws, levels etc?
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