Comprehensive pricing guide for tool insurance in New Zealand. Understanding costs, factors, and how to get the best value coverage.
Calculate My PremiumUnderstanding what you'll pay based on your tools and coverage needs
Basic hand tools, small power tools. Perfect for apprentices and sole traders.
Comprehensive tool set with quality power tools. Most common coverage level.
Professional grade tools and specialized equipment for established tradies.
Heavy machinery, vehicles, and comprehensive business equipment coverage.
Test equipment, power tools, and electrical components.
Pipe tools, drain equipment, and water pressure systems.
Power tools, machinery, and construction equipment.
Diagnostic equipment, lifts, and specialized automotive tools.
Understanding the key factors that determine your premium
Higher value tools cost more to insure. Most policies charge 1-3% of total tool value annually.
Some trades are higher risk. Mechanics and roofers typically pay more than office-based trades.
Urban areas with higher crime rates may have higher premiums than rural locations.
Secure storage, van alarms, and tracking devices can reduce premiums significantly.
Previous claims can increase premiums. A clean claims history helps keep costs down.
Comprehensive cover costs more than basic theft-only policies. Add-ons increase premiums.
Practical tips to reduce your premiums without compromising coverage
Premiums can vary by 40% between insurers. Always compare at least 3 quotes before deciding.
Higher excess can reduce premiums by 10-20%. Choose an amount you can afford to pay.
Combine tool insurance with public liability or vehicle insurance for multi-policy discounts.
Van alarms, tool tracking, and secure storage can earn discounts up to 15%.
Annual payments often come with discounts compared to monthly installments.
Don't over-insure. Regular valuations ensure you're not paying for more coverage than needed.
Maintain a clean claims record to qualify for no claims discounts and loyalty rewards.
Market rates change. Review your policy each year to ensure you're still getting the best deal.
Get an estimate based on your specific requirements