Question 1

What is tool insurance in New Zealand?

Accepted Answer

Tool insurance in New Zealand is specialized coverage that protects tradies' professional tools and equipment against theft, damage, and loss. It covers tools stolen from vehicles, worksites, or storage facilities, with policies ranging from $20-100 per month depending on coverage level.

Question 2

Which trades need tool insurance in NZ?

Accepted Answer

Tool insurance is essential for builders, electricians, plumbers, carpenters, painters, landscapers, mechanics, and any trade professional who relies on tools for their livelihood in New Zealand.

Question 3

How much does tool insurance cost for NZ tradies?

Accepted Answer

Tool insurance in New Zealand typically costs between $20-100 per month or $300-1,200 annually, depending on the value of tools, occupation, and coverage level. Most tradies with $10,000-30,000 worth of tools pay around $40-60 monthly.

Question 4

What does tool insurance cover in New Zealand?

Accepted Answer

NZ tool insurance covers theft from vehicles (including forced entry), theft from worksites, accidental damage, fire damage, natural disasters, malicious damage, and mysterious disappearance. Most policies cover tools up to $50,000 with options for higher limits.

Question 5

Which insurance companies offer tool insurance in NZ?

Accepted Answer

Leading tool insurance providers in New Zealand include State Insurance, AMI Insurance, Builtin Insurance (specialist trade insurer), Bizcover (comparison platform), AA Insurance, Tower Insurance, and Vero. Each offers different coverage options and pricing for tradies.

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