With alarming figures such as a vehicle being broken into and tools being taken every 23 minutes, it's no surprise that tradespeople are worried. Commercial van insurance or fleet insurance would help if the worst happened and would help to pay the expenses, but what about the tools in your van? This is what van tool insurance is for specifically and why it's so important to have it.
Despite the fact that criminals are becoming more clever, there are measures you can take to keep them from stealing your livelihood. If the worst happens and your tools are stolen, here's what you can do to get them back or at least file a claim on your tool cover insurance, if nothing else.
Keep All Receipts For Tools And Equipment
Take photos, keep receipts, and maintain a record of the make, model, and serial numbers of all your tools. Having information like this available will not only be essential in the case of a claim, but it will also assist the police in identifying the tools if they are discovered. If your vehicle has been broken into and damaged, picture evidence will help you report it to the authorities and make a van tool insurance claim.
Not only will the receipts and photos help you itemize precisely what is now missing, having been stolen, but they will also help you to add up how much your tools cost. This is another useful piece of information to have when making a power tool insurance claim. After all, you'll want to either have the like for like items given to you, or you'll want enough money from your insurance to go out and buy new tools. Not knowing how much you spent or what things are worth can cause problems in this regard.
Inform The Authorities
If you are filing a claim for stolen tools or property that has been vandalized, you must notify the police immediately. Many insurance plans will have a time restriction for you to report an incident, so call the police as soon as you realize what has happened, and try not to disturb the van so they can carry out an investigation if need be.
Telling the police means you can start the process of finding your stolen tools, something that your tool cover won't be. When you insure tools in van, you'll find that the insurance only deals with the aftermath of a theft, not the theft itself, which is why telling the police is so crucial. In fact, some van contents insurance companies will only be able to process your claim if you have spoken to the police already.
Another benefit of telling the police is that you'll have proof to back up your claim if you subsequently discover your tools for sale online or locally. You can give the seller's details to the police, and they can take it from there.
Keep An Eye Out
Thieves will want to sell their stolen items as quickly as possible, and preferably locally – the longer they hold onto tools, the more chance there is of being caught. With this in mind, keep an eye out on sites like Gumtree and eBay or local Facebook groups. You can also set up notifications using your equipment serial numbers for things that are only available locally or in person.
If you haven't already, join trade organizations and exchange information about any suspiciously low-priced tools you come across online. Inform people about the tools you're searching for so that they may help you find them if they come across them.
Understand Your Deductible
Before filing a claim with your insurance for work tools carrier, go through your policy to ensure you're covered and double-check your tool excess or deductible. Because an excess can vary from nothing to hundreds of dollars, this can save you time if your claim is smaller than your excess amount.
In fact, even if you haven't had the misfortune to lose tools due to theft, it's always a good idea to regularly check your tool insurance cost and other elements to ensure that it's exactly what you want and need. Switching insurance companies before your renewal date can save you a lot of money and could give you better coverage. You might be able to add personal tools insurance to your policy, for example.
Make A Claim On Your Insurance
After you've reported the incident to the police, you should contact your insurance provider. Use this checklist to ensure you can make your claim as easy as possible.
- Gather all of your paperwork, including your insurance document, an itemized list/receipts for everything taken or damaged, and any reference numbers you might have received from the police.
- Have the times and dates of the offense, what you're claiming for, and how much money you anticipate receiving available.
- Responding honestly will assist in expediting your claim. Don't exaggerate or be tempted to demand more than what was taken since this may invalidate your claim.
- If you bought your insurance via a broker, contact them first, as they may be able to assist you in working with the insurance provider to expedite your claim.
- When filing a claim, write down all of the facts. Take note of the day and time you called the insurance provider, as well as who you talked with and what they told you. Keep all papers or letters sent to you, as well as copies of everything you send.
Making Certain You're Protected
When purchasing an insurance policy to insure tools of the trade as part of your business insurance, carefully study the terms and conditions. Many insurances will not cover your tools if they are left in the van overnight, and they will require you to have secured windows and doors, as well as a functioning alarm. If the tools are taken from a job site, unless it is proved to be a safe, secured storage facility, the coverage is unlikely to apply.