Policy Options – General Property Cover

There are various options that can be chosen with a public liability policy, and one of the most common is general property cover.

General property cover allows you to cover various tools of trade against a range of risks including theft and various forms of damage.

In this guide we’ll take a look at what general property insurance covers, how much it costs and why you should consider this option for your business.

What Is General Property Cover?

Commonly referred to as tool insurance, the cover can be used to cover virtually any items in your business which could be considered as ‘tools of trade’.

The policies offered by each insurer will differ in terms of the specific coverage offered, but generally you will be covered for theft from a secure location, fire and storm damage, and damage caused in a vehicle collision or rollover.

Most policies offer portable cover, meaning that your property is covered wherever it is stored. There are requirements regarding security however, which we will touch on shortly.

If you do suffer a loss on your tools or equipment, the insurance company will cover the cost of repair or replacement depending on the situation.

Which Items Can Be Covered?

Virtually any property that is regarded as ‘tools of trade’ can be covered. For a tradesman the obvious items are their tools, and this is a very popular form of insurance for tradies.

For white collar workers their tools of trade may include their laptop and mobile phone, whilst for a cleaner it would be their cleaning equipment.

Items such as vehicles and trailers need to be covered separately and cannot be classed as general property.

How Is Theft Covered?

Theft is the most import form of cover for most business owners, but not all policies will automatically include theft, and even when they do the coverage can still differ.

Some policies cover theft only from a secure location, and for a successful claim to be made there must be evidence of forced entry used to gain access to the property.

There are some policies which offer an option for ‘open air’ cover of property. This basically means that the property will be covered regardless of how it is stored. Naturally this cover is more expensive.

Unfortunately some insurers do not include theft cover at all in their basic policies, and we have seen a situation where a broker was recommending this cover to tradies without knowing it didn’t cover theft.

The key point here is that you need to double check your policy documents to ensure that theft is covered, and to what extent it is covered.


The cost of general property insurance will vary depending on three main factors, which include the type of business you run, the replacement value of your tools and the location where you or your business is based.

Here at Public Liability Insurance Australia we can assist you with quotes on general property insurance, but only when packaged with a public liability policy.

To obtain a quote simply visit our online quote form and one of the questions will ask you if you would like to include cover for tools or equipment insurance.

General property is undoubtedly one of the most common forms of cover taken with a public liability policy, and for the relatively low price it is a great value cover for your business.