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Workshop insurance

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AdrianR17/03/2019 10:38:30
272 forum posts
20 photos

I know this has been discussed before but that was nearly two years ago.

Who would you recommend for workshop insurance?

I see Walker Midgley Insurance Brokers are on the trade list for Doncaster, they any good?

3404617/03/2019 10:43:34
760 forum posts
4 photos

If the workshop is within the boundaries of your property then it will be covered under your buildings insurance. The contents, if not used for professional purposes, will be covered under contents insurance. There may be limits to your contents cover but 'All risks' insurance is available for high value items.

Simon Williams 317/03/2019 10:49:25
415 forum posts
67 photos

I've gone over to NFU Mutual, on the basis that their workshop insurance actually expects you to have tools and welders and chainsaws etc in your workshop, unlike a nasty experience with one of the major high street brands.

Usual disclaimer applies, and no I'd better not name the "other brand".

HTH Simon

AdrianR17/03/2019 10:49:39
272 forum posts
20 photos

I should have said, it is in a standalone building in the garden.

3404617/03/2019 10:55:01
760 forum posts
4 photos
Posted by AdrianR on 17/03/2019 10:49:39:

I should have said, it is in a standalone building in the garden.

As is mine but it is within the boundaries of the property for insurance purposes.

Andrew Johnston17/03/2019 12:03:53
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4878 forum posts
548 photos

I'd be very wary about relying on normal home insurance to cover workshops, built-in or otherwise. My double garage is attached to the house and is linked into the alarm, but it still isn't covered. Way back my home insurance only covered £2k in garages to cover the sort of thing most people have like lawnmowers and DIY power tools. When I asked about cover for other items like a lathe and mill all I got was a silence, and then a no we don't cover. In other words they had no idea what they were and it's easiest to say no.

I have a friend on another forum who confidently told me that his detached, but brick built, garage and workshop was covered by his holdhold insurance up to £30k. A couple of years later he sheepishly told me his wife had made some comment when renewing, and the insurance company had said nothing was covered, and never had been.

My workshop machines, tooling, part built engines and materials are covered by Walter Midgeley. They're by no means cheap, but they seem to be only player in town. A couple of years back when I thought about changing I couldn't find anyone else other than a few one man and his dog brokers who all led back to WM..

Andrew

Tony Pratt 117/03/2019 12:09:47
911 forum posts
3 photos

You need to speak to an insurance broker on this issue, they will advise your best options, online compare sites won't cut it.

As said previously it won't be the cheapest but if you have an incident you want proper cover

Tony

JohnF17/03/2019 12:42:18
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871 forum posts
103 photos

I have just renewed our house insurance this month and changed to a different company due to rising cost of the previous outfit, ended up with the Halifax and made it very clear regarding workshop items and sporting firearms and assured all are covered. Workshop is within the house building but with a separate entrance all alarmed with a fully monitored system plus physical deterrents as well. Usual disclaimers but found them very efficient and helpful.

John

Andrew Johnston17/03/2019 13:37:38
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4878 forum posts
548 photos
Posted by Tony Pratt 1 on 17/03/2019 12:09:47:

.......................online compare sites won't cut it.

I don't use comparison sites; they're worse than useless, and some cases plain dishonest. Every time I look they select energy deals that are worse than I've already got. Or give me a price for a hotel that is above what I get simply by ringing the hotel to book.

Andrew

Andrew Johnston17/03/2019 13:45:03
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4878 forum posts
548 photos
Posted by JohnF on 17/03/2019 12:42:18:

I have just renewed our house insurance this month and changed to a different company due to rising cost of the previous outfit.............

After changing insurance company every year (household and car) I started putting all the details back into the current insurers website, getting a cheaper price. Then I called and insisted they matched the price, which they do. I did the same with household and car insurance for my mum a few months ago.

When I renewed my own insurance last month I did the above and got the standard 20% or so off the car insurance. But the household insurance online quote was more expensive, instead of the 40% or so I normally get off - very odd. I also got an email reminder for my aircraft insurance, with a long spiel about how the number of insurers had declined, equals more expensive insurance. But the quote was comfortably less than last year! Even odder.

Andrew

Steambuff17/03/2019 13:53:01
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499 forum posts
6 photos
Posted by Bill Chugg on 17/03/2019 10:43:34:

If the workshop is within the boundaries of your property then it will be covered under your buildings insurance. The contents, if not used for professional purposes, will be covered under contents insurance. There may be limits to your contents cover but 'All risks' insurance is available for high value items.

Bill not strictly true .... I would recommend that you should check and verify ... My Buildings/Contents insurance EXCLUDES Garage contents (even integral) AND Sheds and their contents (This would apply to a standalone workshop)

Dave

3404617/03/2019 14:59:48
760 forum posts
4 photos
Posted by Steambuff on 17/03/2019 13:53:01:
Posted by Bill Chugg on 17/03/2019 10:43:34:

If the workshop is within the boundaries of your property then it will be covered under your buildings insurance. The contents, if not used for professional purposes, will be covered under contents insurance. There may be limits to your contents cover but 'All risks' insurance is available for high value items.

 

Bill not strictly true .... I would recommend that you should check and verify ... My Buildings/Contents insurance EXCLUDES Garage contents (even integral) AND Sheds and their contents (This would apply to a standalone workshop)

Dave

Double checked as suggested and my policy clearly states contents of sheds and garage ARE INCLUDED up to a value of £2500.

For certain there are companies that do not provide this cover from what has been said, so yes I would agree with you that not strictly true applies.

Thanks

Bill

Edited By Bill Chugg on 17/03/2019 15:02:46

Harry Wilkes17/03/2019 15:59:44
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723 forum posts
60 photos

Adrian I with WM as they insure out building Ive not compared their prices as I have my engine with them too so one payment per year covers both wink

H

Jon17/03/2019 16:05:42
989 forum posts
46 photos

Check the small print, anything insurance companies can get away with they will.

Generally theres in excess of £30k in equipment and tools and dont want to hear the price they would command.
Business insurance even worse going back 9 years, couldnt find any that would undertake when mentioned revolving machinery.

mechman4817/03/2019 16:37:19
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2490 forum posts
371 photos

I have asked my Ins.Co. about my converted 'hobby shop' & they have stated that as it is an attached 'garage' but not fitted with an internal access door it is classed as an outbuilding & would only be covered as such to the tune of £2500, but for an extra 'Premium plan' cover payment this increases to £5000,this, as many members will know that would not cover replacement value of Lathe or/& mill alone, never mind all the extra's in there, needless to say I paid the 'premium cover' rate.

I have enquired with WM & they quoted me, at time of asking, £70 per annum, value up to £10K, but that was a couple of years ago. I'm not sure how you would stand with your present insurer with extra cover from a 3rd party insurer, anyone is / has been in this scenario?.

George.

KWIL17/03/2019 16:51:05
3125 forum posts
56 photos

I had the same problem when my then insurer would not seriously increase the valuation of the workshop contents. "They did not cover such items", strange really when they provide the insurance cover WM sell!!

So I went to Hiscox, no problems at all and no limitation on the sums insured.

Edited By KWIL on 17/03/2019 16:51:55

Ian Skeldon 217/03/2019 16:59:41
396 forum posts
29 photos

Do WM have a website? I have googled and come up with only one address that is actually Walker Midgely and that returns a bad page??

AdrianR17/03/2019 17:02:12
272 forum posts
20 photos

Thanks for the replies guys, I will try WM and NFU. I live out in the sticks and have a NFU office in the local town. The local farmer says the rep is very helpful.

My own experience of insurance is that it is a racket. Only time I tried to claim on house insurance was for a lost watch they accused me of lying and refused to pay. Needless to say my view is it is a waste of money, but I am not brave enough to not insure.

Samsaranda17/03/2019 17:09:01
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786 forum posts
5 photos

Have been with WM for a number of years and I acknowledge they are not cheap but unlike most insurers their premiums do not increase by huge amounts each year. Their policy is very comprehensive and you are left in no doubt as to what is covered, unlike the usual woolly small print generally found with insurance policies.

Dave W

SillyOldDuffer17/03/2019 17:50:01
4772 forum posts
1011 photos
Posted by AdrianR on 17/03/2019 17:02:12:

...

My own experience of insurance is that it is a racket. Only time I tried to claim on house insurance was for a lost watch they accused me of lying and refused to pay. Needless to say my view is it is a waste of money, but I am not brave enough to not insure.

I fear a few posts have shown a touching innocence when it comes to cover: you always have to read the policy! I wouldn't go so far as to claim insurance is a racket, but it's certainly a hard-nosed business rather than cuddly Meerkats organised to hand out money.

One common booby trap is the need for claimants to prove that the items existed and to demonstrate their actual value. As a proportion of claims are false most assessors require proof that claims are justified. For all they know your workshop never existed, or you sold it at a car-boot sale to pay for Smack. And even if you can prove ownership they tend not to value elderly equipment as highly as enthusiasts! Wishfully vague suggestions may be rejected outright. It's a good idea to keep records - photographs, notes and receipts.

Dave

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