Portable hand tools & small plant

Digging the garden with a spoon isn’t going to cut it…

Rather than just hand tools, we know that you will use small plant such as generators, ladders, kango’s and scaffold towers.

To make life easy we have included two sections in our policy to cover these.

Just provide us with the total value of your Portable Hand Tools as one figure and the total value of your small plant as a second figure and we will include them. Remember, this is the cost to replace them as new!

Hired In Plant
Should you Insure this with the hire company or insure this yourself ?
Before you consider taking out annual cover or repeatedly keep paying the hire company to extend theirs, let’s look at what the options are?

To insure this yourself under an annual hired in plant insurance can be cost effective but you need to look at what your existing costs to hire are.
If you only hire a few times per year it might not be worth it. However in order to work this out firstly establish how often you hire access equipment in and the fees you pay annually to do this.

To give you an idea, if you spend £3000 a year hiring in plant and any one single item of plant will not be worth more than £40,000 then the insurance premium could be in the region of £550 for the year.

There will be excesses to pay in the event of a claim too however the excess the hire companies insurance will apply and the one we use will probably be very similar.

Read the small print – when you hire in plant you will of course have a few conditions, this is usually the microscopic writing that you find on the rear of the hire invoice. Contained in here is lots of big words mainly things that you make you responsible for everything, including insurance.

So, what’s the insurance bit?
This is straight forward you bend it or lose it and you’re responsible, but there is more than one way of being responsible and this depends on the wording of the conditions. With most professional hires you will find two words used, Indemnify and Reinstate.

Indemnity – Effectively this means that should you bend/lose the item then you will reimburse the hire company for the item as is.

Reinstate – What the wording usually says is that you will reinstate the item if it’s less than 12 months old, this means a shiny new one.

Whatever you do with hired in plant and equipment make sure it is insured, contact us and discuss your requirements. If it is not worth insuring with us we will tell you, if on the other hand it makes it makes financial sense to have your own policy we will explain exactly how that’s going to work.