Tools of Trade Cover refers to insurance for essential tools and equipment a business relies on for daily operations. It may provide compensation for loss or damage caused by specified events such as fire, flood, theft, or vehicle collision while items are stored, transported, or used for work. Policies typically require proof of ownership and secure storage. For theft claims, evidence of forced entry to a locked vehicle or building is usually required. Sub-limits may apply per item, and depreciation can affect settlement amounts for unspecified items. For example, if power tools are stolen from a locked van showing signs of forced entry, the insurer may replace them up to the policy limit. Covered events and conditions vary by policy, so check your policy wording for details.
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