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workshop insurance

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Duncan Andrews23/11/2007 14:09:00
1 forum posts

Does anybody know of a good place to go to get adequate insurance on my private workshop, which is a 20' x 12' wooden shed, with a fully functional cabinet making set up ? House insurance rarely goes beyond 2k and contents are close to 10k !

Delete12/12/2007 23:48:00
575 forum posts
This is a service which Magicalia could perhaps get involved with. They should have enough clout to get some Insurance Broker interested in the business.
Mark Richards14/12/2007 09:34:00
6 forum posts

This is an issue I have been very concerned about in view of the size of my workshop and the value of the tools I have inside. I have asked various people but still havent found anyone who can insure the workshop.

If there are any readers who have crossed this bridge or may know of a broker/ins company that will do it for a reasonable ammount, then please reply to this post, or if you are not a forum member, please ring me on 07708 460924. I could then place the answer on the forum for the benefit of others.

I feel this is an issue that many workshop/tool owners dont consider until its to late.

Hopefully we can get some direction form someone. Fingers crossed!

Mark

Keith Smith14/12/2007 17:56:00
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83 forum posts
5 articles

Every insurance company seems to have different rules and conditions even when they belong to the same group, so it is well worth phoning around all the various companies for a quote, for instance; 

 

Norwich Union will cover a shed in the garden as part of the buildings policy even if it is used for business use; the rebuild costs of the shed just needs to be added to the house rebuilding costs. However they have a £1,500 maximum contents limit which is too low for most workshop contents.

 

Churchill Insurance will insure a shed as part of the buildings policy, but only if it is used for private use. They have a standard £2,000 contents limit but can normally increase this to £5,000 if asked. They may insure higher amounts but they would have to refer it to their underwriters before they would accept the cover.

 

Direct Line will insure a shed when included with the house buildings insurance, but again only if it is to be used for private /hobby use. However they will normally insure up to £10,000 of contents without referral to an underwriter.

 

Your first port of call should be your house insurance company, if they will cover you it is by far the cheapest way to get insurance. If your current insurance company will not insure the risk it would be well worth moving your insurance to another company which will cover the workshop rather than purchase additional insurance from a third party. If you want to get a stand alone policy my advice would be to contact a local Insurance broker, they should have access to the sort of specialist companies which will insure this type of risk.

  Keith
HOWARD HUGHES28/01/2008 22:00:00
3 forum posts
Hi,  I have my house & contents insured through SAGA & I have it confirmed that the contents of my workshop are covered under the contents part of the cover up to the the £50.000 sum insured.  The only provision is that the items are only used for Hobby purposes only.  I hope this is of use to you.
Mark Richards28/01/2008 22:56:00
6 forum posts

Hi Howard;

Thanks for your reply and tel call the other day concerning SAGA. I have a few years left before I could use SAGA, though no doubt, time will fly and I will be able to call on them soon!!

Will ring you soon.

Mark

HOWARD HUGHES28/01/2008 22:00:00
3 forum posts
Hi,  I have my house & contents insured through SAGA & I have it confirmed that the contents of my workshop are covered under the contents part of the cover up to the the £50.000 sum insured.  The only provision is that the items are only used for Hobby purposes only.  I hope this is of use to you.
Mark Richards28/01/2008 22:56:00
6 forum posts

Hi Howard;

Thanks for your reply and tel call the other day concerning SAGA. I have a few years left before I could use SAGA, though no doubt, time will fly and I will be able to call on them soon!!

Will ring you soon.

Mark

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