Insurance

[davidc1075]

I have just built my workshop and I decided to check the insurance to make sure that my tools were covered. Unfortunately the insurance (Halifax) will only cover up to £2000. With all my machines and other tools this is no where near enough. Has anyone else had this problem and got any pointers as where to look for cover. Thanks David

 

[Newbie_Neil]

Hi David

I'm fairly sure that Direct Line are the one's to go for.

If Adam sees this post he'll confirm who it is. If not, give him a pm.

Cheers
Neil

 

[LeeElms]

FYI: Liverpool Victoria cover my workshop (garage) contents up to £4000 (no extra charge on the house & contents insurance). But they don't offer any way to achieve higher cover.

 

[RogerS]

Ouch..I hadn't thought that there might be an upper limit on contents outside the house even though in secured premises.

I'm relatively confident that we're too far off the beaten track as we're a very long way off the road and anyone breaking in won't realise that my security system has immediately sent me a picture of them on my mobile phone so I can then call the farm up :twisted: but even so...

...time to dust off the policy methinks. SWMBO even asked me the other night if we should increase the contents cover and I said 'No'

 

[Adam]

Yes, I use direct line and "upped" my insurance significantly. I also insure the workshop building itself - as on your buildings insurance, they assume a "shed" will only cost them a couple of hundred to replace if it burns down for example. I don't know about you lot but my workshop is well built, insulated, boarded, carpeted, and with full electrics and lighting. I decided on an increase in £10K on the huildings to cover it, and upped my contants by at least £15K, as of the 15, £5K or (1/3 of any amount) is reserved for "valubles" - which includes stuff like fur coats, works of art, gold, and so to get £10K of extra contents cover, I had to up the policy by £15K.

Adam

 

[UKTony]

I went through this process a few months back, Direct Line cover your contents whether they are in the house or Garage. So if you took your Stereo to the garage and that was stolen you can claim and vice versa if you took your Lathe into the kitchen and the same happened (Now theres a thought) :idea:

Tony

 

[Adam]

I went through this process a few months back, Direct Line cover your contents whether they are in the house or Garage.

Or outbuilding, provided it has a "lock".

No specification on the lock if I remember.

Adam

 

[Taffy Turner]

Yes, I use direct line and "upped" my insurance significantly. I also insure the workshop building itself - as on your buildings insurance, they assume a "shed" will only cost them a couple of hundred to replace if it burns down for example. I don't know about you lot but my workshop is well built, insulated, boarded, carpeted, and with full electrics and lighting. I decided on an increase in £10K on the huildings to cover it, and upped my contants by at least £15K, as of the 15, £5K or (1/3 of any amount) is reserved for "valubles" - which includes stuff like fur coats, works of art, gold, and so to get £10K of extra contents cover, I had to up the policy by £15K.

Adam

Carpeted????? :shock: :shock: :shock: :shock: :shock: :shock:

 

[Adam]

Yes, I use direct line and "upped" my insurance significantly. I also insure the workshop building itself - as on your buildings insurance, they assume a "shed" will only cost them a couple of hundred to replace if it burns down for example. I don't know about you lot but my workshop is well built, insulated, boarded, carpeted, and with full electrics and lighting. I decided on an increase in £10K on the huildings to cover it, and upped my contants by at least £15K, as of the 15, £5K or (1/3 of any amount) is reserved for "valubles" - which includes stuff like fur coats, works of art, gold, and so to get £10K of extra contents cover, I had to up the policy by £15K.

Adam

Carpeted????? :shock: :shock: :shock: :shock: :shock: :shock:

Oh yes, isn't yours? :lol: How else do you work in it when the weather is chilly outside? It makes it warmer, more comfortable if you spend a long time standing, and saves an edge when you drop a chisel. It's carpet tiles if I'm a bit more specific. Took them when they "changed" the colour at work, and replaced all the tiles with new snazzy blue ones.

Adam

 

[Keith Smith]

I have £10K tools cover which costs £94.50 from Norwich Union as an adition to my public liability insurance.

Wouldn't cover all the replacement costs but would certainly help if it all went up in flames.

Keith

 

[Ham]

My cover is with NatWest who include my workshop automatically as part of the 'building' for both contents and the fabric. Many policies do have a limit of £2k - possibly an industry standard?
Cheers, David

 

[davidc1075]

Thanks for all the advise, I hadn't even considered the cost to re build the workshop but it would cost at least 3K with the double glazing insulation labour etc for someone else to build it. I have been ringing round all the insurers and will try to give you an update as to who was cheapest or provided the best cover but as you will appreciate every ones workshop is different and the cover chosen is an individual choice. Glad that it has made people get out their policies and check and hopefully preventing someone losing out in the event of a claim.