Is tool insurance really worth it? Take a look at our guide for Tradespeople.
We’ve said it before – work tools are the backbone of a tradesperson’s business. So why wouldn’t you get tools insurance for your equipment? Many tradesmen still question “is tool insurance worth it?”.
After carrying out some online research we’ve found plenty of plumbers asking if they should have tools insurance and if it’s really worth them insuring “small ticket items”.
So, we’re here to look at the cost of tool theft in the UK, the benefits of tools cover and help you decide if it’s worth it.
Cost of UK tool theft
If you aren’t in the plumbing trade, a few hand tools or power tools being stolen might not seem business critical, however, when your business is solely reliant on your gear it will affect your business and your ability to work.
Looking on Google you can see the reality of tool theft and how it is gripping the UK.
London Car Boot sale April 2025
In April 2025, Essex Police reported £50,000 worth of tools were stolen. These were thankfully recovered, A car boot sale in Rainham uncovered 1,000 suspected stolen tools.
Welsh plumber’s tools stolen from van
In July 2025, plumber Robbie Hawkins had more than £3,000 worth of tools stolen from his van overnight while it was parked near his home. Thieves used a master key to access the vehicle, stealing a £2,000 press gun along with various power tools, drills, and angle grinders.
Thief Caught on CCTV
In 2024, a thief stole approximately £2,700 worth of tools from a business on Doncaster high street, followed just three days later by the theft of another £1,000 worth from a van. Fortunately, the culprit was caught three months later and has since been jailed. Unfortunately, outcomes like this are rare. According to the BBC, Essex Police reported that fewer than 1 in 300 work tool theft investigations led to a charge last year.
That being said, it’s not all bad news. The Theft of Tools of Trade Bill is progressing through Parliament, and Direct Line has reported signs of an overall decline in cases in 2024 compared to earlier years.
With this in mind it is still clear that staying vigilant about protecting your tools remains essential.
The benefits of tool insurance
Even with all the right precautions, there’s always a chance the worst can happen, which is why having tool insurance is essential.
Listening to what tradespeople are saying online, it’s clear there’s still some uncertainty around tool insurance, particularly the question: “Is it really worth it?” One Reddit user commented “It’s worth it once you get your things stolen.”
To help alleviate concerts we’ve outlined the key benefits of tool insurance below.
Financial protection when it comes to tool theft
Many cases of tool theft involve thousands of pounds worth of tools. That’s can have a significant impact on small businesses and contractors if their own tools are taken or damaged because of theft (or even fire).
Tools insurance covers the cost to repair or replace those tools that are damaged or stolen, so you don’t have to worry about how or when you can get back to work.
Giving you peace of mind
With the increasing news coverage on tool theft and public discussions in the trade’s community, this may have plumbers feeling on edge wondering “could it happen to me”. Tools insurance cover would give you that reassurance that in the unfortunate event you were a victim of tool theft, you’d have the support to get back on your feet, being able to continue working and your tools would be protected.
Faster Recovery
We’ve already highlighted the significant financial impact of tool theft, losing £1,000 or even £3,000 plus worth of equipment can be a major setback for most tradespeople and small businesses. Having insurance in place provides financial support when you need it most, helping you recover faster and get back to work with minimal disruption to your business.
Protect Your Income
One of the biggest hidden costs of tool theft is lost income, without your tools, you can’t complete jobs. While it’s important to note that tool insurance doesn’t directly cover lost revenue, it does help you replace stolen equipment faster. That means you’re less likely to cancel projects or lose clients, allowing you to keep your business running with minimal disruption.
Built for Tools of the Trade
A common claim online is that bringing your tools indoors means they’re “covered by home insurance.” While that might be the case, it’s important to check on your home insurance policy. Coverage can often be limited and may not fully protect high value tools.
In contrast to this, dedicated trades insurance for plumbers with tool cover is designed specifically for the risks tradespeople face. It offers more tailored protection for the equipment you rely on to do your job. Meaning that your tools are fully covered.
Insuring The Tools in Your Van
According to Freedom of Information data from the Met Police, tool theft from vehicles is around six times more common than from homes. If you regularly leave tools in your van overnight, having the right insurance could make a big difference.
Tools in Transit Insurance
Some specialised tool insurance policies (like Kingsbridge) also cover tools and materials while in transit, including protection against damage caused by road traffic accidents.
Here’s some of our Top tips:
Check what your home insurance actually covers
If you only have buildings insurance, your tools likely aren’t covered. Even with contents insurance, make sure it includes items stored outside the main home.
Look out for exclusions on work-related tools
Some home insurance policies only cover personal belongings — not business or trade equipment. Always check the fine print.
Watch for lower claim limits on garages or outbuildings
If you store tools in a garage, shed, or outbuilding as many plumbers do, you should be aware that some insurers cap payouts for items stolen from these locations.
A re -occurring belief we are seeing online is that “Insurers devalue your tools”
This is a common concern and like many generalisations, it depends on the policy.
If your tool insurance is based on market value, then yes, your payout will reflect the second hand value of your tools, taking into account their age and condition.
But and it’s a big but many insurers, including Kingsbridge, offer tool cover on a “new for old” basis. This means you’re reimbursed for the full replacement cost of your tools, allowing you to buy brand new equivalents, with no devaluation.
“Tool insurance is expensive for what it covers”
This is a fair point to raise and ultimately, it’s subjective. However, before deciding whether tool insurance is “too expensive,” it’s important to consider the full picture of what it actually protects and the benefits that it can have for you.
At first glance, comparing the cost of insurance to the value of your tools might make it appear to be overpriced. For example, if you have £1,000 worth of tools but your premium is £2,000 a year, it can feel like poor value.
Tool theft isn’t just about replacing equipment. The true cost often includes losing work, missing deadlines, damage to your vehicle, and the effect that it has on your income until you can get back to work.
Taking this in to consideration tool insurance can be a valuable safety net, helping you minimise downtime, protecting your livelihood, and allowing a faster recovery from what can be a major setback.
For Context
Let’s break it down using a simple example based on day rates, imagine your tools are stolen, and you’re unable to work for four months, roughly 86 working days. At a day rate of £300, that’s £25,800 in lost earnings. Now add around £2,000 to replace the stolen tools, plus the cost of materials already purchased for jobs you’ve had to cancel, and it quickly adds up.
So, when you are contemplating whether tool insurance is “too expensive,” consider the full scope of what it protects, not just the tools themselves, but your ability to keep earning.
Looking Into Tools Insurance?
If you think tool insurance could be a smart move for your trade or business, make sure you understand what you’re buying. Carefully review your insurer’s policy documents to check what’s included and what’s not. That way, you’ll know you’ve got the right level of cover for your tools and peace of mind when it matters most.
A few tips:
Always check the total value limit
Look in to the types of tools and equipment insured
Be sure to understand the key exclusions and conditions
Always take in to consideration special circumstances you need to insure e.g. tools in vans, tools left overnight, tools in transit.
We have put together a full guide to tools insurance that breaks it down and explains tools insurance policies.
You can reach out to Kingsbridge Insurance for a quote or to discuss their policies, here.
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Telephone – 0161 871 1188
Email – PlumberAwards@refreshpr.co.uk