Own goods insurance offers cover against the loss or damage of trade tools while being carried by or stowed in a vehicle that you own or hire.
It covers the kinds of tools and equipment used by someone in the course of their business, including:
- Hand/power tools
- Personal protective equipment
- Spare parts
It also covers merchandise in transit in a vehicle owned or used by you and includes any period where you’re loading or unloading.
The kinds of merchandise covered (other than the trade tools listed above) include goods you sell or supply in the course of your business like:
- Bathroom suites
- Kitchen cabinets or appliances
- Fitted furniture
How much cover do you need?
To work out the level of cover you need, add up the value of your tools and merchandise. Make sure you work out the amount of cover you need as accurately as possible.
If you overestimate, you could pay more than you need to for your insurance, but if you underestimate you could be left out of pocket if you need to claim. When you know how much your goods are worth, choose one of our four levels of cover.