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NEW Product - Tools Insurance cover

02 September 2019

With tool theft an increasing concern amongst electrical contractors, ECA has secured a member-exclusive tools insurance arrangement with Covermytools to help minimise disruption to your business.

Over the last year the awareness of tool theft has grown, and a recent survey has found that tool theft victims are having to replace up to £5,000 worth of tools and can lose up to two days’ earnings¹.

The tools insurance policy provided through Covermytools launched on 2nd September and offers protection for loss, damage or theft of hand tools and portable power tools in the UK and worldwide. All tools can be covered from a base limit of £1000 to a maximum limit of £10,000 per insured person, with no inner limit to the value of any one item.

With some traditional insurance policies excluding some of the most obvious risks, such as theft from unattended vehicles or buildings, Covermytools has developed its own exclusive scheme providing cover for theft from unattended locked motor vehicles or a locked store or building.

Should a claim need to be made, Covermytools can arrange immediate authority for replacement items to be sent via courier or, alternatively, policyholders can visit a local approved supplier the same day to replace their tools.

“Tool theft victims are not only out of pocket whilst they can’t work; it’s also extremely expensive to replace the stolen items,” said Phip Woodhatch, ECA Head of Regions. “Our member-exclusive arrangement with Covermytools will help ECA members to insure their tools for as little as £50 per year. With insurance in place it can give businesses peace of mind that, should the worst happen, you won’t lose out on any work.”

To find out more or to purchase tools insurance visit eca.covermytools.co.uk and complete the short online form to receive a quote. Alternatively, you can call Covermytools on 0330 100 0450. Don’t forget to use the referral code ECA5 to get your 5% discount.

¹https://screwfixmedia.co.uk/the-true-cost-of-tool-theft-to-the-trade/ 

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