News & Events

March 2010           

This month’s product in focus:

Tools of the Trade Cover

Statistics show a sharp rise in the number of business vans appearing on our roads in the UK, this is recently reported to be in excess of 300,000 new vehicles per annum. Given that Government figures show that vehicle related crime still occurs more frequently than household break-ins, businesses are strongly advised to ensure that van and equipment security is given a high priority.

Particularly at risk are tradesmen who have made considerable investment in specialist tools in order to increase the efficiency of their businesses. Loss of these tools can represent a substantial hindrance to the short-term continuity of a business, which is all the more alarming as around one fifth of tradesmen do not adequately insure the contents of their vans and often do not realise they aren’t covered until it’s too late.

In recognition of these risks, Lexelle has developed a specialist Tools Of The Trade cover package designed to minimise loss if such an event should arise. This can be a useful add-on product for brokers offering insurance to tradesmen (e.g. plumbers, electricians). So, bear this in mind when providing renewal or new cover quotes for your relevant trade customers. Try including the following dialogue as part of your quotation process:-

“Your existing policy does not cover you for loss of tools from your van, were you aware of this ?”

“….If this would cause you major problems in running your business or delaying work on your important contracts then for a small additional charge we can offer various levels of additional cover to help minimise your risks ……”

If you are interested in offering this add-on service to your trade customers, or for more information please contact us on 0800 953 0616.