The paper presents the research results on the microstructure, mechanical and tribological properties of coatings deposited by cathodic arc evaporation methods on the X40CrMoV5-1 hot work tool steel substrates as well as the possibility to employ the finite element method for evaluation of stresses in the investigated coatings. The tests were carried out on CrAlSiN and CrN coatings. The coatings demonstrated a dense cross-sectional morphology as well as good adhesion to the substrate. The critical load LC2 lies within the range 54–55 N, depending on the coating type. The investigated coatings have the potential to increase the service life of an extrusion die by orders of magnitude as compared with uncoated steel.