Tech Tip: Why automotive technicians should insure their tools
Sept. 8, 2016
If you work with tools for a living and you want the security and protection of knowing that your professional investments are covered, then Pro-TEC is a viable option.
If you work with tools for a living and you want the security and protection of knowing that your professional investments are covered, then Pro-TEC is a viable option. This insurance policy includes automobile mechanics and other service technicians whose livelihood depends on their tools to get the job done.
Professional technicians and mechanics have very limited coverage for their tools and equipment on their employer's insurance policy, and basically none on their homeowner's policy. The average technician invests an average of $10,000 to $50,000 in their toolbox, tools and equipment.
Many professional technicians are unaware that existing coverage levels are insufficient. With the Loss of Income Coverage clause included in every Pro-TEC Policy, technicians are covered in the event of a loss even when their tools or equipment cannot be replaced for 30 days.
What is Pro-TEC:
Pro-TEC Tool and Equipment Insurance Coverage has been in existence since 2009.
Pro-TEC provides blanket coverage for unscheduled tools and equipment that do not have to be listed on the policy.
Pro-TEC provides coverage at work, at home, on a job site or in transit.
Pro-TEC provides replacement cost coverage on items newer than 10 years old.
Great American Insurance Company provides coverage for the Pro-TEC policyholders. GAIC is an A+ Superior rated insurance company.
The Pro-TEC Policy covers fire, burglary, robbery, theft, vandalism and all types of disaster weather.
Pro-TEC provides a $50,000 catastrophe limit subject to a $250 deductible per claim. The annual premium is $500.
Pro-TEC also allows up to a maximum $5,000 loss of income provision for a 30-day period if the technician cannot work until their tools and equipment are replaced.
Higher or lower limits are available upon request.
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