Specified Tools of Trade refers to high-value or specialised items individually listed in your policy schedule with a declared value, such as generators, welders, or laser-levelling devices.Listing items as "specified" means they are covered up to the declared value and avoids the automatic depreciation formula that applies to unspecified items. When a specified item is lost or damaged by an insured event, the insurer may repair, replace with an equivalent model, or pay up to the declared value, less any applicable excess.You may be required to list items over a certain value (such as $1,000) to avoid harsher depreciation calculations. Please read your insurance policy to understand your coverage as policy coverage can vary between insurers and product type.

Specified Tools of Trade refers to high-value or specialised items individually listed in your policy schedule with a declared value, such as generators, welders, or laser-levelling devices.Listing items as "specified" means they are covered up to the declared value and avoids the automatic depreciation formula that applies to unspecified items. When a specified item is lost or damaged by an insured event, the insurer may repair, replace with an equivalent model, or pay up to the declared value, less any applicable excess.You may be required to list items over a certain value (such as $1,000) to avoid harsher depreciation calculations. Please read your insurance policy to understand your coverage as policy coverage can vary between insurers and product type.