How each insurer is structured
Tool cover in NZ is sold a few different ways: as a contents-policy extension, as a specified-item add-on, as part of a small-business pack, or by a specialist trade insurer. Below is how each major provider is positioned. We don't publish premium ranges or coverage caps — those are set per application.
State Insurance
- Underwriter
- IAG (parent group)
- Tool cover route
- Contents-policy extension or small-business pack
- Audience
- Sole traders; tools at home or in a single work vehicle
- Quote channel
- Online or phone, direct-to-consumer
- Premium & cap
- Set per application — get a quote
AMI Insurance
- Underwriter
- IAG (parent group, same as State)
- Tool cover route
- Contents-policy extension; specified-item process for higher-value tools
- Audience
- Sole traders and small operators
- Quote channel
- Online and phone
- Premium & cap
- Set per application — get a quote
Builtin
- Type
- Specialist trade insurer (NZ-based)
- Tool cover route
- Trade-focused product, often quoted alongside a business pack
- Audience
- Trades — builders, electricians, plumbers etc.
- Quote channel
- Online-first
- Premium & cap
- Set per application — get a quote
| Attribute | State | AMI | Builtin |
|---|---|---|---|
| Underwriter / type | IAG (mainstream) | IAG (mainstream) | Specialist trade insurer |
| Tool cover route | Contents extension or small-business pack | Contents extension; specified-item add-on | Trade-focused product |
| Quote channel | Online / phone | Online / phone | Online-first |
| Premium | Set per application | Set per application | Set per application |
| Coverage cap | Set per application | Set per application | Set per application |
Specific premiums, excesses, and coverage caps are not published as flat ranges by these insurers — they're set per application based on tool value, trade, location, claims history, and policy structure. Use /apply to get personalised quotes.