When you need to drill dozens or even hundreds of holes, use a bit with replaceable carbide inserts. Once the cutting edges wear down, just change the inserts instead of sharpening or throwing the bit away. The holes in the bit channel coolant through the tool for more efficient chip evacuation. Also known as indexable drill bits.

Each drill bit requires two inserts—one on the inner cutting edge and one on the outer cutting edge. Replacement inserts are sold separately.