Compare insurer options for your trade
Tool cover in NZ comes from a small number of mainstream insurers and a couple of trade specialists. We summarise how each is structured so you can pick the right place to get a quote — but premiums and limits are always set per application by the insurer, not by us.
A high-level structural overview. None of the figures below are quoted as prices or coverage limits — those are set per application by the insurer based on your tools, trade, and risk profile.
IAG-owned mainstream personal-lines insurer.
IAG-owned mainstream personal-lines insurer.
NZX-listed personal-lines insurer.
Joint venture between AA NZ and Suncorp.
NZ specialist insurer for the construction and trades sector.
Australian-owned online comparison platform operating in NZ.
We do not publish an ordered "best to worst" list of insurers, star ratings, or claims-processing percentages. Those would only be meaningful if backed by a published methodology with primary-source data — which we don't currently maintain. The right insurer for you depends on your trade, tool value, structure (sole trader vs company), and storage situation. The /apply quiz collects those details and points you to the right starting point.
Answer a few quick questions and we'll match you with insurers that cover your trade and tool value. About 3 minutes — no obligation.
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General questions about how tool cover is structured in NZ
Premiums are set per application based on your tool value, trade, location, claims history, deductible (excess), and how the policy is structured (standalone tools cover, contents add-on, or business pack). Insurers don't publish flat price ranges — getting a quote is the only way to see your real number.
Mainstream personal-lines insurers (State, AMI, AA Insurance, Tower) typically cover tools as an add-on or item-specified extension on a contents or business policy. Builtin Insurance is a specialist trade insurer in NZ. BizCover is a comparison platform that quotes commercial lines from a panel of insurers. Some tradies are placed via brokers into commercial packages from underwriters such as NZI or Vero.
High-value items are usually 'specified' on a policy — listed individually with their replacement value, sometimes with photos and serial numbers. Each insurer has its own threshold for when a tool needs to be specified versus covered as part of a general tool schedule. Check the policy wording or ask the insurer directly.
Add up the replacement cost of every tool you'd need to keep working — including consumables you'd have to repurchase. Then think about whether prices have moved since you bought them. Most tradies underestimate. Insurers will ask you to declare a sum insured; if it's too low, you're underinsured at claim time.
Yes. Sole traders are often eligible for personal-lines tool cover (cheaper, simpler). Companies and partnerships usually need a commercial business pack. Quote through both routes if you're a sole trader — sometimes the personal-lines route is materially cheaper.
Yes — at renewal without penalty in most cases. Mid-policy switches are possible but you may forfeit some unused premium depending on the cancellation terms. Always read the policy you're moving to in full before cancelling — coverage gaps at switch are a common claims problem.
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