We surveyed 500+ New Zealand tradies who've experienced tool theft, damage claims, and insurance payouts. Here are their unfiltered stories, real costs, and honest advice about whether tool insurance actually pays off.
After analyzing hundreds of real tradie experiences, tool insurance is absolutely worth it. Here's the math that convinced even the biggest skeptics:
15 years experience, $35k tool kit
"Van got broken into at Sylvia Park - $22,000 in Fluke test gear and Milwaukee tools gone. State Insurance had a check for $22,400 in my account within 3 days. Best $780/year I ever spent."
8 years experience, $28k tool kit
"Site container cleaned out overnight in Porirua. Builtin Insurance replaced everything and gave me temporary tools the next day. I've told every tradie I know to get insurance."
6 years experience, $16k tool kit
"Kept putting off getting insurance. Ute broken into at Bunnings - $16,000 in tools gone. Had to borrow from family to get back to work. Now I tell everyone: get insurance TODAY."
20 years experience, $31k tool kit
"Cyclone flooded my shed. $31,000 in tools destroyed. House insurance only covered $5,000. Had to remortgage the house to rebuild my tool kit."
Perspective: Less than 1 tank of fuel per month
Reality: 1 in 3 tradies experience tool theft
"It's like safety gear - you hope you never need it, but you're bloody glad it's there when you do."