Frequently Asked Questions

Yes. We offer a policy specifically to cover Employee’s Toolboxes whilst kept and used at their place of work. Portable Hand Tools and the Toolbox itself are covered for Fire, Theft and Accidental Damage.

5 toolboxes or less – we recommend that each employee obtains a quote online. Employers can of course arrange with their employees to reimburse them if they wish to.

More than 5 toolboxes – there are a number of options to choose from:

• If you want to help your employees by directing them to a policy that they can purchase, simply point them to www.insuremytoolbox.co.uk
• If you want to pay for your employees to have a minimum level of cover that they can then top up, call us on 01684 215000 and ask for Mike, Peter or Archie
• If you want to to pay for your employee’s toolbox insurance in full, call us on 01684 215000 and ask for Mike, Peter or Archie

In each of the above options an individual policy is issued in the Employee’s name rather than in the Employer’s name.

We can also arrange for cover for Employee’s Toolboxes under one policy in the Employer’s name. To find out more call us on 01684 215000 and ask for Mike, Peter or Archie.

Cover is arranged on a ‘New for Old’ basis, there is no reduction for ‘wear and tear’. To make sure that sufficient funds are available to replace the tools in the event of a claim it is important to select a sum insured that represents the cost of replacing the tools and toolbox as new.

Sums Insured start from £2,500 up to £20,000. Higher sums insured can be considered on request.

 

Whilst it is possible to insure employees tools under for example an employer’s Motor Trade policy there are a few things to consider:

• Policies may limit the value of employee’s tools that they will insure
• Insuring employees toolboxes may lead to an overall exposure that increases the level of security the insurance company requires
• Claims for loss or damage to employee’s tools are included with the employers claims experience which in turn can impact the premium required and cover provided
• In the event of a claim the employer will be responsible for agreeing the claim and negotiating settlement even though they do not own the claimed for tools. Potentially this can be time consuming, frustrating and leave the employer having to negotiate with two parties the insurance company and their employee.

There are the usual requirements, such as:

• Theft cover being subject to there having been forcible or violent entry
• An excess of £250

In addition there is a requirement for:

• The toolbox to be secured to the fabric of the building
• Pictures of the toolbox and the contents of each draw to be submitted to My Insurance Partner within 14 days of going on cover. These will be used to assist in the settlement of any future claim.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Either call us on 01684 215000 and ask for Mike, Peter or Archie or email us at toolbox@myinsurancepartner.co.uk