Tool insurance

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Got my first exposure to equity funding from swoop

Feb 21, 2026

Hannah Taylor

Swoop made the entire funding process incredibly straightforward and stress-free. From the outset, the platform was easy to navigate and clearly designed with businesses in mind. The team took the time to understand our needs and presented funding options that were genuinely relevant, rather than a one-size-fits-all approach. What really stood out was the level of support throughout the process. Communication was clear, responsive, and professional at every stage, and we felt well informed from initial enquiry through to completion. The expertise and transparency provided gave us real confidence in the decisions we were making. Overall, Swoop is an excellent solution for businesses looking to explore funding options efficiently and with expert guidance. I would highly recommend them to any business seeking a reliable, knowledgeable, and customer-focused funding partner.

Jan 23, 2026

Michael

A user friendly and intuitive platform that did not make the process onerous. Also Ikrah Ramzan, the Asset Finance Funding Manager was helpful, engaging, and supportive through the process.

Jan 20, 2026

Paul Brogan

Great service nice people pleasure to work with, highly recommend them

Jan 16, 2026

Peps Cafe

Very good customer service 👏

Dec 13, 2025

Rachel Martin

Working with the team at Swoop Finance has been genuinely brilliant, both as a partner and as an accountant, recommending them to clients. Their platform makes the funding process feel clear and accessible, and their team really take the time to understand each business before suggesting options. I’ve referred several clients through Swoop this year - from start-ups to established companies and each one has come back saying how seamless and supportive the experience was. From my side, collaborating with Swoop has been effortless. They genuinely care about helping business owners grow sustainably, and their communication and professionalism make them a standout partner in the finance space. Great for accountants looking to add value to their clients and for business owners looking to explore funding with confidence.

Dec 12, 2025

Taz Allinson

Working with Swoop has been brilliant. They’ve been a great brand to collaborate with behind the scenes, and our clients are already feeding back positive results after using Swoop to access funding for their businesses. Highly recommend!

Dec 9, 2025

Frank Coelho

Fantastic tool for business owners. It simplifies the funding landscape and brings everything into one dashboard. I was able to see my options quickly without the usual hassle. Very impressed with the service.

Dec 5, 2025

BuildBright Contractors

We recently worked with Swoop Funding to help finance our new van purchases, and the experience was outstanding from start to finish. The process was smooth, transparent, and far easier than we ever expected. A special shout-out goes to Ikrah, who was absolutely fantastic throughout. She was proactive, knowledgeable, and incredibly supportive—always quick to respond, always clear in her explanations, and genuinely committed to finding the best possible solution for us. Her professionalism and friendly approach made the entire journey not just stress-free, but genuinely enjoyable. Thanks to Swoop—and especially Ikrah—we were able to secure the right funding quickly and confidently. We couldn’t be happier with the service and highly recommend them to anyone looking for business finance done right.

Nov 18, 2025

Claudia Mirabela Costea

A bit late with my feedback but I want to recognise how supportive swoop has been with assisting me to find the best funding for my tiny business.In a world full of possibilities it is rare to find people to help you explore the right paths for your needs.I want to also recognise Daniel M. On this ocassion as he was very professional and prompt to get involved and emailed me all the resources I needed

Oct 19, 2025

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Page written by Chris Godfrey. Last reviewed on May 22, 2025. Next review due October 1, 2027.

From a spanner and a screwdriver to a laptop and a light meter, every business and professional needs tools to carry out their trade. Sometimes, this equipment can cost hundreds or even thousands of pounds and if it were lost, damaged or stolen, it could be difficult to replace and may even put your business in jeopardy. Fortunately, tool insurance is available to eliminate this risk. Buy it to protect your vital tools and equipment. Keep on working if the worst should ever happen.

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What is tool insurance?

Tools insurance, also known as portable equipment cover, is a business insurance that protects the machinery and equipment you take from job to job. This includes things like hand and machine tools, generators, lighting rigs, tech devices, ladders, and testing equipment. The portable nature of these essential items makes them more prone to loss, theft, damage, and accident.

Why is tools insurance cover important?

Millions of US tradespeople, engineers, technicians and other professionals rely on their tools every day. If their essential equipment were suddenly lost or rendered unusable, the impact on their work or business could be catastrophic. Tools insurance is designed to keep workers working no matter what – quickly covering the cost of tools and equipment repairs or replacement.

What's covered with tool Insurance?

Tool insurance pays for the repair or replacement of essential tools, equipment and machinery in the event they are stolen, damaged, or lost, up to the maximum value of your policy.

Standard covered events include:

Fire

Covers damage, destruction and loss caused by fire.

Example: A fire in your garage destroys the engine testing equipment you use.

Theft

Covers loss should your tools be stolen, including theft by employees or contractors.

Example: Someone breaks into your workshop and steals your machine saws, drills and nail guns.

Flood

Covers damage, destruction and loss caused by flood.

Example: Burst water pipes flood your photography studio, destroying cameras, lights and accessories.

Loss

Protects you should you lose items of equipment.

For example: You leave your tool bag and all your kit on the train, and it is never handed in or returned.

Other tools cover

As well as the protection shown above, tradespeople and businesses can also purchase other tools insurance to cover situations such as:

Tools kept in your van overnight
Accidental tools and equipment damage caused by yourself
Tools in transit – in case they are lost or damaged while going from A to B
Deliberate vandalism or burglary
Hired-in plant cover – tools and equipment you have rented
Toolbox insurance – covers your tools and the box they are kept in

How does a tool insurance claim work?

If you need to make a claim against your tool insurance, you should contact your insurer as soon as possible, providing the following information:

Your policy number
The time and date of the incident
Receipts for your tools (emails and digital receipts are usually accepted for tools purchased online)
Police crime reference number, for cases of tool theft. (You must also report tool theft to the police within 48 hours of discovery)

Example claim

Your van is broken into overnight, and the thieves make off with your expensive power tools. As soon as you discover the theft, you should contact local police to report the crime – ensuring they give you a crime reference number. Next, contact your insurer to make your claim following the steps outlined above.

Tools insurance FAQs

Got a question about tools insurance?

Do you need receipts for tool insurance?

Yes. If you make a claim, you must provide the original receipt or provide proof of ownership for the tools for which you are claiming. If you do not possess or were never given a receipt for your tools, you will need to provide other evidence of ownership of your tools.

Are tools covered under home insurance?

Possibly. It depends on the terms and conditions of your home insurance. Some home insurance policies may cover tools that are for work or commercial use, but many standard home insurance policies do not.

Can you insure a garage?

Yes. If your garage is attached to, or in the grounds of your home, it should be covered by your home buildings and contents insurance. However, not all home insurance policies protect tools that are used for commercial use. You may still need tools cover even if your garage is already insured.

What is tools in transit?

Tools in transit refers to tools and equipment that are in the process of going from one place to another – most often in a van or other commercial vehicle. Tools in transit can be covered by your tool insurance policy, providing cover in the event your tools and equipment are lost, stolen, destroyed or damaged when being loaded into, carried in, or unloaded from a vehicle.

Who can get tool insurance?

Tool insurance can be purchased by any business, tradesperson, or professional who wishes to protect their vital tools and equipment from loss, damage or theft.

How much does tool cover insurance cost?

Premiums for construction insurance can start at less than $5 per month, but the cost you pay will depend on your type of business, the value of your tools, the level of risk attached to what you do, the amount of cover you choose and the limit of your policy excess.

How much is the typical excess?

A standard tool insurance policy providing cover up to a maximum of $10,000, would typically come with an excess of around $200. However, excess levels can be affected by the value of your tools and other factors unique to your business – such as the risk of loss, damage or theft. You can also set a higher excess sum to reduce the cost of your policy.

How Swoop can help

All business involves risk, but that doesn’t mean you have to suffer the consequences if things go wrong. Don’t let the loss of your tools and equipment create an even bigger loss for your business. Contact Swoop today to compare top-quality tool insurance policies and to discuss all your business insurance needs.

Written by

Chris Godfrey

Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Wells Fargo Bank, Visa, Experian, Ebay, Flywire, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of US consumer and business finance.

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At Swoop we want to make it easy for SMEs to understand the sometimes overwhelming world of business finance and insurance. Our goal is simple – to distill complex topics, unravel jargon, offer transparent and impartial information, and empower businesses to make smart financial decisions with confidence.

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