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workshop insurance

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paul rayner10/03/2014 14:02:54
182 forum posts
46 photos

Hello everybody

can anyone point me in the right direction in where to purchase workshop contents insurance please, all the big boys don't seem to want to know or they are eyewateringly expensive for what i require. I assume there are some specialist insurers that do it at reasonable cost like boilers?

thanks in advance for all replys

regards

paul

Speedy Builder510/03/2014 14:17:33
2613 forum posts
212 photos

I use AXA France - the workshop is covered for the same value as, the house so long as they don't both burn down at the same time. No extra premium paid. As a precaution, I wrote a letter with a spreadsheet of all the tools / items in the w/shop with Description, date acquired, new or secondhand, Cost new, actual price paid plus a contingency for stock.

Russ B10/03/2014 14:24:55
615 forum posts
26 photos

Interesting subject. I insured my contents which covered a certain amount of garage/shed contents. I assume it doesn't cover "industrial" machinery but I can't see anyone walking off with a Bridgeport on their shoulder.

I keep a rough photo diary, just a walk around the garage photographing draws and shelves focusing on things of value etc.

Ultimately, I wouldn't be surprised if they refused to payout and had to be pushed legally. The benefit of some of my more portable machines is they are clearly defined as hobby use only or "not for industrial use" which should help some out.

If I wanted bespoke insurance for anything I'd have a trip to the nearest NFU office for a chat with them, they're very reasonably priced.

Durhambuilder10/03/2014 14:37:17
72 forum posts
5 photos

Either Walker Midgely who do a stand alone workshop policy at about £7.50 / £1000 insured or get home and contents with the NFU which will cover your workshop as well..

Tony Pratt 110/03/2014 17:24:14
1964 forum posts
12 photos

I use AXA, I used to use Prudential on an old style policy which covered garage contents to the same value as house contents. They managed not renew automatically my policy of 30 years and I was uninsured for a couple of months without knowing it! I wasn't best pleased and the new style policy isn't worth squat as far as workshop is concerned.

Tony

Rik Shaw10/03/2014 17:33:37
avatar
1483 forum posts
398 photos

Our house and contents are insured new for old. We spoke to  RIAS our insurers a year or so back re: insuring the workshop and contents likewise new for old.

I had to fill in a form describing the security in and around the workshop which satisfied them. They asked for a valuation of the contents and I told them £10,000 (I dare not do a proper audit as the true new replacement value for everything would far exceed £10,000). Then surprise, surprise, they told me they were willing to cover it all at no extra cost to ourselves.

Touch wood I'll never have to make any such claim - but in the event the place WAS burned to the ground I know that I would not have the get up and go to start afresh. I'd pocket the ten grand, buy myself a couple of small cnc machines and teach myself CAD (all in a nice new warm and insulated shed).

Rik

Edited By Rik Shaw on 10/03/2014 17:34:29

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