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You should never assume that tools or equipment coverage is included in your general liability or auto liability policies. Even if your tools or equipment are in your vehicle, there is no automatic coverage under an auto policy.
There are two different kinds of coverage for this: Replacement Cost and Actual Cash Value. Replacement Cost means you get new equipment for old, meaning it doesn’t take into account depreciation. Actual Cash Value takes into account depreciation.
There is also something called “Coinsurance”. This could save you a lot of money, because the policy can be rated on 80% of the equipment value and still be covered for 100% (all things considered). If you under value your tools and/or equipment when applying for the “coinsurance” factor though, you’ll be on the hook for a portion of the loss.