Tool & Portable Equipment Insurance
For loss and damage to your business when your tools go walk about.
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Instant Cover
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On this page:
What is Tool and Portable Equipment insurance?
Tool and Portable Equipment insurance covers you for loss and damage to items of portable equipment associated with your business. These can include tools of trade and items of stock.
Your tools, specialised equipment and stock are essential to running your business. But what if they were damaged or wandered off in the night? Replacing them could become a long and expensive effort.
Don’t let broken or missing tools turn into a headache. Consider protecting your business with Tool and Portable Equipment insurance.
What does Tool and Portable Equipment insurance cover?
Storm Damage
Loss or damage caused by fire, water, storms or explosions.
Malicious Damage
Purposeful damage caused by someone else.
Accidental Damage
Loss or damage caused by accident, by you or someone else.
Damage During Transfer
Damage caused during a collision or overturning vehicle.
Theft
Items forcibly removed from locked vehicles or buildings, or securely attached to a vehicle using locks or padlocks.
- Wear, tear or gradually developing conditions.
- Rust, oxidation, mildew, mould, moths, insects, vermin, dry rot, contamination or pollution.
- Faulty materials or workmanship.
- Employee theft.
- Cracking, scratching, marring or breakage of glass, fragile items, or surfaces.
- Processes that heat, dry, clean, dye or alter an insured item.
- Unexplained inventory shortage.
Why might you need Tool and Portable Equipment insurance?
Tools and Portable Equipment insurance isn’t mandatory in NZ, but you may consider a policy to help you:
Replace tools and equipment damaged by a storm.
Replace tools and equipment that are accidentally damaged.
Replace stolen tools of trade.
Get your Tool and Portable Equipment insurance sorted quicker than a smoko break.
Get your Public Liability insurance sorted quicker than a smoko break.
14000+ NZ
small business covered
The 4 industries who purchase Tool and Portable Equipment insurance most:
- IT Consultants
- Management Consultants
- Recruitment Consultants
- Real Estate Agents
- Personal Trainers
- Hairdressers
- Beauticians
- Yoga Teachers
If you don’t see your industry or occupation mentioned above, it doesn’t mean Tool and Portable Equipment insurance isn’t suited for your business.
It only takes few minutes to find insurance that fits your business needs.
How much does Tool and Portable Equipment insurance cost?
Tool insurance costs $83 per month* on average, for BizCover NZ customers – but every business is unique. The cost of a policy can vary based on your business’ size, risks, insurance requirements and other factors.
The costs are real, get that new policy feel
Tool Insurance
$83/mo*
Expected average cost
How is the cost of insurance calculated?
Risks of the industry
Cover amount
Number of employees
Claims history
Adding cover for natural disaster damage
*Customer Average Monthly Payment Report is based on 1 July 2023 to 30 June 2024 and presented as a guide only. It may not reflect pricing for your particular business, as individual criteria will apply. This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.
Click here to check industry wise average prices
Get cover that works with the risks of your business
You can select different levels of Tool cover.
This is the most you will be paid out if you need to make a claim. Choosing different cover levels may impact the cost of your policy.
Flexible Cover
Pick cover for the value of your tools up to $1M
Unsure how much to choose? Think about:
The nature of your business activities
Cover required by contracts
Number of employees being covered
The location where you do business
Your contract value
Cost to replace your tools
Underinsurance
We know it’s tempting to select a lower level of cover to reduce premiums, but this can leave businesses shocked and insufficiently covered when making a claim.
Ways underinsurance catches business owners out:
Inflation
With inflation, the cost of living and doing business increases. Remember to cover you, your tools and assets for the rising costs of replacing or covering them, not what you paid for them – you may be surprised at the difference.
Not covering the full cost of your risks
If you select cover levels for less than the value you may be found liable – left out of pocket when it comes to claims time. It’s important to review your risks and determine how much you will need to cover any claim that may come your way.
Tool insurance
$83/mo*
Expected average cost
How is the cost of insurance calculated?
Risks of the industry
Cover level amount
Annual turnover
Number of employees
Claims history
*Customer Average Monthly Payment Report is based on FY24 and presented as a guide only. It may not reflect pricing for your particular business, as individual criteria will apply. This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.
Click here to check industry wise average prices
Get cover that works with the risks of your business
You can select from 5 different levels of cover.
This is the most you will be paid out if you need to make a claim. Choosing different cover levels may impact the cost of your policy.
Flexible Cover
Pick cover for the value of your tools up to $1M
Unsure how much to choose? Think about:
Statutory professional requirements
Cover required by contracts
Number of employees being covered
Your contract value
Worst case scenario claim size
Underinsurance
We know it’s tempting to select a lower level of cover to reduce premiums, but this can leave businesses shocked and insufficiently covered when making a claim.
Ways underinsurance catches business owners out:
Inflation
With inflation, the cost of living and doing business increases. Remember to cover you, your tools and assets for the rising costs of replacing or covering them, not what you paid for them – you may be surprised at the difference.
Not covering the full cost of your risks
If you select cover levels for less than the value you may be found liable – left out of pocket when it comes to claims time. It’s important to review your risks and determine how much you will need to cover any claim that may come your way.
How it works – buying online
Just 5 easy steps to get instant cover online today. Compare multiple types of business cover from different insurers in one go and save time!
Select Profession
How it works – making a claim
We’re here to assist you through the claims process and get you back to business. Track your claim through our platform, so you’re always in the loop!
Fill a Form
Our Insurers
We work with a selected group of trusted NZ insurance partners to offer you great cover.
The Savings Are Real
See how much others have saved while purchasing policy through Bizcover
Martin
Gardener from
Christchurch
Saved
$2,000
on
Public Liability, Statutory Liability
& Employers Liability
Ian
Plumber from
Picton
Saved
$600
on
Public Liability&
Statutory Liability
Vicki
Management Consultant
from Napier
Saved
$1,500
on
Professional Indemnity &
Public Liability
Yvonne
Councellor from
Rotorua
Saved
$100
on
Public Liability &
Professional Indemnity
^ Savings made from January 2023 to July 2024. This information is provided as a guide only and may not reflect pricing for your particular business, as individual underwriting criteria will apply.
What sets BizCover apart?
We are not just a comparison and buy site.
Make claims online
We’ll facilitate the process on your behalf with the insurers.
Flexi Payment Options
Pay monthly or annually, cancel at any time.
One Stop – Shop
Manage multiple cover types in one place.
Easy Renewals
Optional automatic renewal to stay protected.
More types of cover
Hear from our customers
Real-life customer reviews verified by Feefo
Efficient
Trusted Customer
Efficient and great price
Quoted and bought insurance online, very quick and a great price.
Definitely worth
Burnett B
BizCover is definitely worth their word. Quick easy understandable cover
Straight forward
Trusted Customer
It is very straight forward and easy to understand and you can choose whatever you need for your business.
Easy to choose
Pavan K
Easy to choose business insurance. The search and the options provided were very simple and straight forward, didn’t expect it to be that easy.
Fast, friendly and efficient
Kylie T
The customer service agent was excellent. He explained to me clearly all the questions I had. Can’t be beat on price for the policy I needed and I was contacted within half an hour of my enquiry. Policy was confirmed on the phone. Excellent.
