What types of tools are typically covered under carpenter insurance?

Tools and equipment insurance can help carpenters stay working by safeguarding their tools.

Marcel Deer - Writer for NEXT Insurance
By Marcel Deer
Kelly Hendrickse - editor for NEXT Insurance
Edited by Kelly Hendrickse
Matt Crawford for NEXT Insurance
Fact-check by Matt Crawford

Published June 20, 2023.

Carpenter insurance that includes tools and equipment insurance can typically cover various hand, power and specialized tools.

How Tools and Equipment insurance can help

This policy can help cover almost every implement used while conducting business, including:

  • Business-owned tools and equipment
  • Employee's tools and clothing
  • Borrowed and rented equipment being used in the workspace*

* A basic tools and equipment policy usually won't cover rented or borrowed equipment. But most providers can offer extended coverage plans for borrowed tools. Rented tools may require separate rental insurance.

Even with a general liability policy included in your carpenter insurance, tools and equipment insurance is still recommended. General liability only covers damage to other people’s property, not yours.

Which tools can be covered with tools and equipment insurance?

The tools that can be covered fall into three main categories:

  • Hand tools - saws, ladders and workbenches, blowtorches
  • Power tools - sanding power tools, power drills, CNC routers, oscillating multi-tools
  • Specialized tools - laser levels, concrete moisture meter, hearing protection, helmets and safety gear

Are you a self-employed carpenter looking to know more? Find out more below:

Importance of having tools coverage

Damage to your tools can impact your ability to find work as a carpenter and lead to costly financial burdens. Tools and equipment coverage can help with the following:

  • Costs to repair or replace damaged equipment
  • Replacing equipment or tools stolen from job sites or your work premises

Get customized carpenter insurance with NEXT

To help protect your carpenter business, it's best to safeguard the essential tools and equipment you need most to get your job done. This can help you avoid missed work opportunities and unexpected setbacks.

With NEXT, you can get fast, affordable carpenter insurance customized to your needs. Simply apply online and get an instant quote in less than 10 minutes. Then, with your coverage picked, you can get a certificate of insurance and share it 24/7 with the NEXT app.

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