Multi-Tool Insurance
Help customers protect all their tools and earn from every introduction.
Use the form to contact our team and we’ll be in touch.
Increase your revenue
Our theft insurance plans provide full tool kit cover to your customers, and a simple, passive new revenue stream to you.
We’ll replace stolen items, reducing downtime and expense to your customers. If their kit is their livelihood, this cover helps them, and their team, stay on the go and get back to work swiftly.
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How it works
Step 1: Contact
Complete the form. We’ll be in touch to confirm a few details and issue your contract.
Step 2: Launch
We’ll agree on the best way for you to introduce the insurance, and supply everything you need, from printed leaflets to digital banners for emails, apps or websites.
Step 3: Earn
You’re ready to go. Any customer who takes out cover via your materials gets protection for all their tools - and you receive commission for every policy that you introduced.
Why offer Tool Insurance
Tradespeople today are underinsured, financially exposed and a target of theft. Helping them protect their tools is tantamount to protecting their livelihood.
One in ten people in the UK have no cash savings at all.¹ A further 21% have less than £1,000 to fall back on in an emergency.¹ Yet only 6.6% have adequate insurance cover for high-value items.¹ That’s a huge protection gap.
It's designed to meet the needs of Tradespeople - here's why:
Product protection helps tradespeople and diy enthusiasts avoid unnecessary downtime and keep on the job.FAQs
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This insurance protects a customer's portable Hand and Power (mains, batteries, diesel/electric) Tools from theft. The cover applies when both within secured premises and motor vehicles, including overnight and when loading/unloading.
Customers will be required to contribute an (excess) payment toward any claim, appropriately sized for their chosen cover level.
Please note that we can only provide the cover to UK residents and loss, accidental damage or deliberate harm or neglect, are not covered under the insurance scheme.
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All claims are handled by expert Claims Handlers at ClaimSorted who will arrange a like-for-like replacement, or reimburse the customer to the financial value of the item via a voucher for your store, keeping the customer in your ecosystem.
Stolen items will require evidence of forced entry and a police incident report.
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Cover starts from £71 per year, with higher levels available up to £286, depending on the protection the customer chooses.
For each policy introduced via your leaflet or banner, we will pay you a 20% commission of the insurance premium paid (excluding Insurance Premium Tax). Commission is paid monthly.
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You will need to complete our onboarding form here, which will include KYB screening. We will then issue you with our contract to sign and arrange a kick-off call to ensure you can get started right away.
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Simply put, our ToBA will allow you to introduce insurance contracts without being subject to regulation by the Financial Conduct Authority (FCA), by utilising either the ‘incidental to business’ exclusion (Article 72C of the Financial Services and Markets Act) if you are a tool retailer, or the ‘provision of information’ exclusion (Article 33B of the Financial Services and Markets Act), if you are not a tool retailer.
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The insurance is provided by Collinson Insurance (a trading name of Astrenska Insurance Limited), which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom (FCA no. 202846).
Loxa is the Policy Administrator and an insurance intermediary authorised and regulated by the Financial Conduct Authority (FCA no. 1018666).
Our Claims Handler for the scheme is ClaimSorted Ltd, a UK subsidiary of ClaimSorted Inc, which is registered in England under Companies House number 15848796.