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23 November, 2012

How To Save Money On Your Tools Insurance

Why have tools insurance? It can be aggravating when something goes wrong if you own a business that relies on the use of power tools. When you aren’t able to use the tools, any jobs you have to complete will be delayed which means you lose money and profits.

Tools insurance gives you the peace of mind that your essential work equipment is protected against loss or damage. Whilst tools insurance is inexpensive, there are several ways that you can save money on your tools insurance premium.

Be secure

In 2007, the common worth of commercial items in vans was placed at $1382 according to a survey by AA. $1382 is a large sum of cash to be lost if anyone tries to take the van or steal the supplies out of it.

So, make sure you remain security conscious. Always make sure that your vehicle has been properly locked and secured and hide any tools from view when leaving the van. This will help to lower the liklihood of you losing your tools as well as increasing your odds of being covered if an insurance claim needs to be filed.

If you leave your tools in a building or storage unit overnight, the same security guidelines apply. Always make sure the building is securely locked, and make sure any alarm is set and operational.

Check your excess

One of the easiest ways to reduce any insurance premium is to increase your ‘excess’ the portion of a claim that you pay. Excess amounts on tools insurance policies are typically quite low around £100 but by increasing the amount of your excess, you can reduce your premium.

Make sure you can afford to pay the excess amount, however.

Be claim free

Many kinds of insurance will offer a discount for ‘no-claims’ and it is no different with tools insurance. Most insurance companies will give you a discount in your premium if you have not filed any claims for damage or loss to your equipment and tools in the past.

Head online

Before the advancement of technology, studying the various tools insurance policies required talking to numerous companies over the phone or an agent and repeatedly going over and the same questions.

these days, you are able to compare tools insurance much easier and faster. Sites with cost comparisons make it more handy to study premiums, benefits, and features of various tools insurance polices.

When you head online, a simple click of the mouse will allow you to compare these various contracts and find the offer which best suits your needs and with the best price.

Click here for more information on Tools In Van Insurance and Cheap Tool Insurance

January 18 2011 09:39 am | Uncategorized

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