What’s a tradie without their tools? Damaged or missing equipment is more than just a headache. Replacing essential tools takes time away from work and costs money from your already tight budget. That’s why tool insurance is considered a must for many tradies.
Read on to learn how different types of tool insurance can protect your gear on site, when stored, and if they go walkabout.
What is Portable Equipment cover?
Portable Equipment insurance can help repair or replace items like tools, business equipment, electronic items, and stock that are lost or damaged due to theft, fire, and other events. It is sometimes called General Property or tool insurance. It’s an optional cover available through a Business Insurance Package.
Portable Equipment helps tradies protect their gear from many everyday events, like:
- Fire, storm, and water damage
- Explosion or impact damage
- Damage caused by a collision or overturning of the conveying vehicle
- Accidental or malicious damage
- Theft of equipment that is securely attached to a vehicle
Think of Portable Equipment as your “on the job” tool cover. If something happens to your tools and equipment while you’re on site, this policy will help set things right. Even better, it can also cover building materials purchased for a job, plus laptops and mobile phones used for work. Just be sure to tell your insurer which items you’d like to insure, so they can list the ones that can be covered on your policy schedule.
What is Contents cover?
Contents insurance can help replace business items—like stock, equipment, machinery, fixtures, fittings, and furniture—if they are damaged by a fire, storm, or other covered event. It is also an option available through a Business Insurance Package.
This type of cover helps tradies protect their tools and equipment against events such as:
- Fire, storm, wind, water, and earthquake damage
- Lightning and explosions
- Impact damage
- Accidental or malicious damage
Contents kicks in when your tools, equipment, or materials are securely stored in your place of business—whether that’s in your workshop, garage, or shed.
But be careful—Contents insurance does not cover theft!
What is Theft cover?
Theft insurance covers you against loss of contents and stock, as well as damage to your business premises, as a result of theft or attempted theft involving forcible or violent entry from your business premises. This is another Business Insurance Package option.
A Theft policy can be handy for tradies, helping protect their:
- Tools and equipment
- Stock in trade, like building materials
- Computers used for running your business
Theft insurance works alongside Contents to protect your tools, equipment, and other items when they’re taken from your business premises. Just make sure everything is locked up each night—typically, insurers only pay claims if the stolen items were securely stored, and there is evidence of a forcible or violent entry to the premises.
Do I really need all three?
Maybe. Every tradie is different, and so are their insurance needs. It all depends on how you work and run your business.
It may help to consider the following when deciding how to protect your tools and equipment:
- How often do your tools travel with you to worksites?
- Where do you usually store your tools and equipment when not in use – in your ute or someplace else?
- Do you typically keep building materials at your business premises, or are they supplied to you on site?
- How common are thefts in your area?
- If your tools and equipment were damaged or stolen, how much would it cost to repair or replace them?
The answers to these questions can help you decide which types or combinations of cover best fit the way you work.
Protect your tools today
Portable Equipment, Contents, and Theft insurance work together to keep a tradie’s tools protected on the job and after hours. BizCover makes it easy to cover your kit with one, two, or all three.
Compare quotes online and get instant cover in minutes. You might even save when you do—like Jack, a NSW plumber, who saved $150 on his Portable Equipment, Public Liability, and Personal Accident & Illness insurance*.
For on the go cover, go BizCover.com.au or call 1300 805 821 today.
This information is general advice only and does not take into account your objectives, financial situation or needs. It should not be relied upon as personal advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording or Product Disclosure Statement (available on our website). Please consider whether the advice is suitable for you before proceeding with any purchase. Target Market Determination document is also available (as applicable).
*Savings made in February 2026. This information is provided as a guide only and may not reflect pricing for your particular business, as individual underwriting criteria will apply.© 2026 BizCover Pty Limited, all rights reserved. ABN 68 127 707 975; AFSL 501769
