Best Tools & Equipment Insurance for Australian Tradies (2026)
Every tradie has a mate who got their tools pinched from the ute. For the ones without insurance, it's $10,000–$20,000 out of pocket, a week without work while they replace the kit, and the realisation that this was completely avoidable. Here's who covers it best.
⚠️ Financial Services Disclaimer: Tradie Scaler is not a financial advisor. The information on this page is general in nature and does not constitute financial product advice. Insurance products have terms, conditions, and exclusions that vary between providers. Always read the Product Disclosure Statement (PDS) before purchasing any insurance product. Consider speaking with a qualified insurance broker for advice specific to your circumstances.
Top 3 Tools Insurance Providers for Tradies
⚠️ The 4 questions to ask before buying any tools policy
1. Are tools covered if stolen from my ute overnight? This is the biggest exclusion in the market. Many policies exclude overnight theft from unattended vehicles. Ask directly — it's the scenario most likely to happen.
2. What's the excess? A $500 excess on a $1,200 drill claim means you're paying out of pocket anyway. Make sure the excess makes sense relative to the value of individual items.
3. Is it new-for-old or indemnity? New-for-old replaces stolen items at current replacement cost. Indemnity applies depreciation — your 3-year-old $2,000 power tool might be valued at $800 for claims purposes. New-for-old is worth paying for.
4. Do you have an itemised list? Without documentation of what you own, claims become difficult. Photograph your tools, record serial numbers, and keep purchase receipts. Do this now, before you need it.
Tools Insurance Providers — Quick Comparison
| Provider | Quote Speed | Overnight Theft | New-for-Old Option | AU Claim Support | Get Quote |
|---|---|---|---|---|---|
| BizCover | Online, instant | ~ Check PDS | ✓ Available | ✓ | Get Quote → |
| Trade Risk | Same-day broker | ✓ Often included | ✓ Available | ✓ | Get Quote → |
| Aon | Broker-assisted | ✓ Available | ✓ Available | ✓ | Get Quote → |
| CGU (via broker) | Broker-assisted | ~ Check PDS | ✓ Available | ✓ | Get Quote → |
Policy terms vary. Always read the PDS before purchasing. Information verified April 2026.
The Best Tools Insurance Providers for Australian Tradies
BizCover is an online platform that compares quotes from multiple underwriters — Vero, QBE, Hollard, and others — so you're not getting a quote from a single insurer. For a tradie who wants tools insurance quickly without dealing with a broker, BizCover is the fastest path to cover. The entire process from quote to certificate can be done in under 15 minutes online.
The tools and equipment insurance available through BizCover covers theft, accidental damage, and tools in transit. Cover limits start at around $5,000 and can go significantly higher for businesses with expensive kit. The key thing to verify: overnight theft from unattended vehicles is not automatically included in all policies on the platform — check the PDS of the specific policy you're buying.
Claims are handled by the underlying insurer, not BizCover. Response time and process quality depends on which insurer underwrites your policy. For straightforward claims (clear theft with a police report), the process is typically efficient. Complex claims may benefit from a broker's advocacy.
Pros
- Instant online quotes from multiple insurers
- Cover activated immediately online
- Good for standard tools cover requirements
- Certificate of currency issued instantly
- Can bundle with public liability cover
Cons
- Overnight theft exclusions vary — check each PDS
- Limited ability to customise complex cover requirements
- Claims handled by underlying insurer, not BizCover
Trade Risk is an insurance broker that specialises in the Australian trades sector — electricians, plumbers, builders, HVAC, and other licensed trades. Unlike BizCover (a comparison platform), Trade Risk acts as your broker, which means they advocate for you at claim time, help you understand policy exclusions upfront, and can access specialist underwriters that don't offer direct online quotes.
For tools insurance, the key advantage is that Trade Risk brokers understand trades-specific risks — van theft overnight, tools in transit, equipment on commercial construction sites — and can structure a policy that actually covers your situation. The overnight theft in locked vehicle scenario, which catches many tradies out, is something a Trade Risk broker will specifically address when finding your cover.
The tradeoff: it's not instant. You'll speak to a broker, describe your business, and receive a quote. For tradies with high-value tool kits, unusual equipment, or complex coverage requirements (tools on multiple sites, hired-out equipment), the broker model is worth the extra step.
Pros
- Specialist in Australian trades — understands your risks
- Broker advocacy at claim time
- Access to specialist underwriters
- Better for complex cover requirements
- Can cover overnight theft from vehicle
Cons
- Not instant — requires a conversation with broker
- May cost slightly more than direct online policies
Aon is a global insurance broker with a strong presence in the Australian trades and construction market. For tradies with high-value plant and equipment — builders with concrete saws and laser levels, earthmovers with survey equipment, solar installers with roof access equipment — Aon has the capacity and specialist expertise to structure appropriate cover. The trades-specific product suite includes tools, plant and equipment, and public liability that can be tailored for complex businesses.
Get an Aon Quote →CGU (part of IAG) offers comprehensive business insurance packages that can include tools and equipment cover alongside public liability, business interruption, and other covers. Accessing CGU for tools insurance is typically done via a broker. The bundled approach suits businesses that want multiple covers under one insurer — simplifying renewal management and potentially qualifying for multi-policy discounts.
Find a CGU Broker →Get tools insurance sorted this week — it takes 15 minutes.
BizCover lets you compare quotes from multiple insurers online in minutes. If your tool kit is worth over $15,000 or you have specific cover requirements, call Trade Risk instead — a broker costs nothing extra and helps at claim time.
Compare Quotes at BizCover →Frequently Asked Questions
It depends on the policy — and this is the single most important question to ask when comparing policies. Many standard tools insurance policies have exclusions for theft from unattended vehicles overnight. Some policies cover overnight theft from a locked vehicle; others require tools to be stored in a locked building overnight. Read the PDS carefully and ask the insurer directly before purchasing.
Tools insurance typically costs $500–$1,500 per year for a tradie with $20,000–$50,000 of tools, depending on your trade, location, claims history, and the level of cover. The excess for claims is usually $250–$500. Prices vary significantly between insurers — comparing multiple quotes is worthwhile. Factors that increase premiums: tradies in high-theft urban areas, higher tool values, overnight-in-vehicle cover.
Most insurers require an itemised list for high-value tools (typically anything over $1,000–$2,000). For a claim to succeed, you need to identify what was stolen or damaged and its value. Take photos of your tools now, record serial numbers where available, and keep purchase receipts. Update this list every year as your kit grows. Without documentation, claims become disputes.
Yes. Domestic home and contents insurance typically excludes items used for business purposes — your work tools won't be covered under a home contents policy. You need a specific tools of trade or business equipment insurance policy. Some business insurance packages bundle tools cover with public liability; others offer it as a separate policy or add-on. Don't assume your home and contents policy covers business tools — check the PDS.