Where Did Power Tools Come From?

It started thousands of years ago, when Ancient Egyptians invented the world’s first power tool: the lathe. Although it was hand-powered, the lathe became an important part of civilisation’s building technology. Then, in Germany in 1895, Fein Power Tools developed the first portable and electric hand drill. As we progressed into the 20th century, many more manufacturers (like Bosch) began to catch on to the incredible benefits of electrical tools – and the rest is power tool history.


The Importance of Power Tools Today

Today, power tools are often credited as being the backbone of the building and trades industries: they are portable across various worksites, they can be charged when not in use and they come with interchangeable parts and accessories (to the point where you can have three tools in one). They are also becoming even more sleek and innovative in design to ensure flexibility and ease of use for tradies.
Without these sophisticated power tools, many tradesmen would not be able to complete their projects or even carry out their daily work. With the growth of power tools and our reliance on them in the trades and construction fields, tools of trade insurance (also referred to as General Property Insurance) has also become increasingly more significant too.

Power Tools and Tool Insurance

Just as power tools were created to make life easier for those ancient builders, tools of trade insurance was developed to bring today’s tradies peace of mind when it comes to the safety of their tools and equipment.  
Tools of trade insurance exists to protect your tools in the event that they are stolen by a third party or damaged due to an accident. If you were to wake up one morning and find that your tools had been nicked or if you were driving from site to site and your tools were damaged in a crash, the consequences could be severe.  

Without Tools of Trade Insurance you would have to…

  • Use your own money to replace or repair your tools – could you afford it?
  • Delay any work you have scheduled until you can buy (or hire) new tools
  • Risk losing new and potential customers because you aren’t able to carry out your work
  • Determine how you are going to earn an income, which could mean you’ll struggle financially

With Tools of Trade Insurance, you could…

  • Put in a claim and work with your tools of trade insurance broker to have the claim processed ASAP
  • Use your tools of trade insurance funds to replace or repair any tools immediately
  • Reduce your risk of lost work, lost earnings and lost customers

Why You Need Tools of Trade Insurance

The hand tools and power tools of today are not cheap expenses; they’re costly investments and building up your tool “collection” is something that you have put a lot of money into over the course of your tradie career. What would happen if you suddenly lost it all? Could you really afford the loss?
Whether you’re a beginner or an experienced tradie, make sure that you obtain the right level of tools of trade insurance to cover all your tools and machinery! If you buy new tools or upgrade your tools, ensure that your insurance will cover this as well.
Protect your tools and machinery and get an online tool insurance quote today or contact our tool insurance specialists on 1300 550 665. 



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