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Affinity and Sponsored Programs

Snap-on Franchisee Inventory Coverage Program

Snap-on Incorporated (“Snap-on”) requires that all Franchisees protect the full replacement value of their inventory by purchasing insurance coverage — whether through this program or from another party.

The Snap-on SecureCorp Franchisee Inventory Coverage Program (the “Program”) offers ‘Snap-on Franchisees’ the opportunity to purchase coverage for tools, equipment and related sales merchandise distributed by Snap-on  and carried as stock inventory by the Franchisee. This Program satisfies the requirement for inventory insurance coverage by the Franchisor.


All Snap-on Franchisees that submit a regular annual inventory, along with complete and accurate daily and weekly sales reports to Snap-on Tools of Canada Ltd. are eligible to participate in the Program. The Franchisee's vehicle must have a Snap-on approved and fully functional alarm as described in the Certificate of Insurance.


Premiums are based on the annual physical inventory total which is defined under the policy as "Tools on truck at Net Inventory total dollars." The Program premium would be set according to the value of the inventory to be insured.

Property Covered

  1. Tools and equipment inventory and related sales merchandise carried by a Franchisee for sale or held for repair purposes on the Franchisee's truck or van, or stored at the Franchisee's residence or at a pre-approved alternative location are covered. Covered property in the care, custody, or control of someone other than the Franchisee with the Franchisee's permission is also protected provided if it is kept in a locked and secured location (The Limit of Liability is $25,000 calculated at the Franchisee cost per location.)
  2. Cash, cheques, or money orders up to a maximum of $6,000 located at the Franchisee’s business or residence and earned as a result of services rendered by the Franchisee are covered if stolen or lost, if such funds had been collected by the Franchisee within a 48 hour window preceding the theft or loss. Given this time limitation, Franchisees should take steps to protect their funds by making deposits at the bank at least every other day.
  3. Personal funds up to the maximum of $1,000 used as working capital for the Franchisee’s daily operations may also be covered.

Excluded Perils

The coverage insures against all risk of direct physical loss or of damage to property covered for external causes, except the following causes:

  • No forcible entry: There must be visible evidence upon the exterior of the Franchisee vehicle (or residence) of forcible entry, while all doors and windows were securely locked; when vehicle is not in use, the vehicle's alarm also must be engaged and keys must be removed.
  • Wear and tear, any quality in the property that causes it to damage or destroy itself, hidden or latent defect, gradual deterioration, dampness, cold, or heat.
  • Any fraudulent, dishonest or criminal act(s) committed alone or in collusion with others.
  • Unexplained loss, loss resulting from mysterious disappearance, or loss or shortage disclosed upon taking inventory.
  • Delay or loss of market value, loss of use, interruption of business or any other indirect or consequential loss of any kind no matter how caused.
  • Hostile or warlike actions; any weapon or war employing automatic fission or radioactive force; insurrection, rebellion, revolution, civil war, or action taken by governmental authority to defend against such occurrence; or nuclear reaction or nuclear radiation or radioactive contamination.

For more information, relating to the Program, please contact Marsh Canada Limited:

Toll-Free: 1 877 755 4934
Email: securecorpcanada@marsh.com

Marsh Canada Limited is a licensed insurance broker who administers the Program on behalf of Snap-on.

This insurance program is underwritten by AIG Insurance Company. 

The information provided above is only a general outline of coverages available. For exact terms, definitions, limitations, and exclusions, please speak with your licensed Marsh Canada Limited insurance broker, or refer to the policy wording. A copy of the program policy program is available upon request.