8 Things to Do If Your Tools Are Stolen

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1. Create a Contents Inventory List

Create and keep an updated detailed list of your tools and equipment inventory and business contents. Include photos of each item, serial numbers, and their values. Doing so can increase the chances of the police recovering them and help expedite any insurance claim you file with your broker or insurer.

2. Document the Loss

Document the stolen tools, including purchase receipts, photos, and serial numbers, as well as a description and photos of where they were stolen from – a storage locker, vehicle, job site, or your shop – and document the damage to the locker, vehicle, or job site where the break in occurred. Look for visible signs of damage and forced entry and document it (for example, a broken lock or car window). It is required when filing a claim under most policies. Also, keep any damaged security features and take pictures of all damages before starting repairs or cleanup. This information will be crucial for the police investigation and insurance claim filing.

3. Report the Theft to the Police

Immediately report any theft to your local police department. Get the officer’s name and contact info and request to receive a copy of that report you can share with your insurance broker.

4. File an Insurance Claim

You’ve got an inventory of your tools and equipment and their values, you’ve reported what’s been stolen from you and when to the police, now contact your insurance broker and file a claim.

As a Zensurance client, you’ll get immediate attention and support from our dedicated claims team, who will ensure your insurance company addresses and investigates your claim promptly. Our claims team will also keep you apprised of the progress and, if necessary, step in to provide assistance and ensure that your best interests are represented.

5. Notify Clients You Might Be Delayed

If your stolen tools and equipment affect ongoing or future projects, it’s crucial to inform your clients about the situation. Communicate any potential delays and outline the steps you’re taking to minimize disruptions and when you can resume or begin work. This professional approach will help maintain trust and transparency with your clients.

6. Rent, Borrow, or Purchase New Tools

If the stolen tools are essential for completing a project, avoid delays by renting or borrowing tools temporarily while your claim is under review.

You could also purchase new tools from a retailer or buy used tools through a third-party marketplace such as Facebook Marketplace, eBay, Craigslist, or Kijiji Classifieds.

7. Review and Improve Security Measures

Assess your existing security protocols and find ways to bolster them. Consider investing in tool tracking and GPS technology, secured storage solutions, and other measures to prevent future thefts. For example, engrave your tools and equipment with personal identification marks.

8. Secure the Job Site

If your tools were stolen from a job site, thieves may return, thinking they can pull off another caper. Don’t make it easy for them by stepping up the security and surveillance of the site. Install cameras and industrial-strength locks, or hire security personnel to monitor the site 24/7 to prevent further thefts.

What Insurance Covers Lost or Stolen Tools and Equipment?

Tools and equipment insurance is vital for every contractor, builder, or construction professional.

This policy covers a wide range of insurable losses, from theft and vandalism to transportable handheld tools and heavy equipment, such as an excavator or backhoe. It also covers repairing or replacing your tools and equipment damaged by fire, water, and natural disasters.

Furthermore, tools and equipment insurance may provide coverage to rent or borrow the gear you need to keep working while your claim is under investigation. If you have larger equipment that would be hard to replace, ask your Zensurance broker about adding this coverage. 

How to Get Low-Cost Tools and Equipment Insurance Fast

Zensurance is Canada’s leading small business insurance brokerage providing contractors and construction professionals with the low-cost, customized coverage they need to protect their projects, assets, and finances.

Fill out our online application for a free quote in less than five minutes.

Let us make getting insured quick, easy, and affordable through our network of over 50 insurers. Our knowledgeable brokers are insurance experts who will answer your questions, customize your policy, and issue you a certificate of insurance instantly so you can concentrate on building the future and delighting your clients.