All of our offices are currently experiencing a higher than usual theft rate of tools from unattended vehicles. The majority of cases are for the smaller, independent building firms, who may not have thought about insurance until after the event.
There are standalone product offerings from our insurers (RSA, HSB) from as little as £100 for goods in transit insurance, including overnight cover.
Common pitfalls to watch out for in cover are:
– Vehicles must be in a locked garage or compound
– Geographical restrictions
– No theft cover between 9pm and 6am
– Forcible entry condition
With the rise in thefts using universal key ‘fobs’ to unlock vans electronically, this may jeopardise the forcible entry condition. It’s worth checking the insurer’s stance on this prior to inception to avoid a potential cover decline.
Some offices are now sending out quotes with all tradesman renewals, and others may find it more suitable to call the clients to discuss the matter in more detail. If we’re not offering this product, are we offering our clients the best advice?