*Changed To Workshop/Contents Insurance*

[Mike.C]

Hi All,

I am looking for a better deal on my workshop insurance and i am also looking for information on workshop/outbuildings insurance as a whole.

So i will be very grateful if as many of you as possible could answer a few questions in the poll below, and maybe give you general thoughts on-

(1) Is your workshop insurance part of your house buildings/contents policy, or (2) is it a stand alone policy?

(3) What is the maximum amount they allow for the contents of your workshop, and is this enough to cover all of your equipment/tools?

While phoning around for quotes on a buildings and contents policy, i have found that a great deal of insurers have a maximum level of between £1,500 to £3000 for the contents of outbuildings.

(4) What sort of figures have you come across?.

(5)A couple of people have told me, that as a long time customer of their insurers the company has given them a higher limit than a new client would receive, has anyone else come across this?

(6) Has your insurers forced you to add more security products to your workshop as part of your policy?

(7) I do hope that no one has cause to answer this one, but if you have had anything stolen from your workshop or if you have had to make a claim for any other reason, how did the company treat you and your claim? Did they give you the run around or did it go smooth and fast?

I realise that there is a lot of questions here, but as i have said i will be very grateful if as many people as possible could at least answer some if not all of the questions.

Thank you in advance.

Mike

Due to Trevthetunners post,

He wrote

I answered 'NO' to the question do you have workshop insurance "becausIe I do not have a separate workshop insurance policy. I do however have adeqate cover provided by my buildings and contents policies.

I have changed the subject title, but i could not change the question, so if you are in the same boat as Trev, then can you let us know?

Cheers

Mike

 

[dedee]

Mike,
1) Yes, 2)no
3) For theft £2500. There is no maxmimum quoted for fire. This is probably enough as I reckon that only the easily portable tools would be stolen and value probably less the 2.5k
4) I do not recall.
5) Not yet.
6) No
7) Not had to claim - yet.

Good Luck

BTW insurance with Axa

Andy

 

[Woodmagnet]

1-yes
2-no
3-no maximum as far as i know
4-not known
5-no
6-no
7-I had a fire damage claim about 4 years ago,and was paid out
without any hassle.(Sun Alliance)

 

[filsgreen]

1-yes
2-no
3-I set it as £3000 but could have gone up to 5
5-no
6-no
7-never claimed

Forgot to say I'm covered by Liverpool Victoria, I think they are very competitive.

Phil

 

[mahking51]

Hi
Just this week rearranged my insurance with Saga !
My WS (garage) is fully covered under my £60k contents cover subject to no one item over £1000 unless specified. They have not asked for extra security; (though I am going to beef it up)
It is terrifying when you do an inventory and add up what you have in there!
Regards
Martin

 

[MilkyBarKid]

1) Yes
2) No
3) Unlimited
4) Quite happy with cover I've got - can't be beaten imho - so haven't researched any others.
5) No
6) No
7) No
single item limit of £2K

 

[Steve Maskery]

(1) Is your workshop insurance part of your house buildings/contents policy, or (2) is it a stand alone policy?

Part of house

(3) What is the maximum amount they allow for the contents of your workshop, and is this enough to cover all of your equipment/tools?

Unlimited

(4) What sort of figures have you come across?.

I think we pay £600 pa for the whole house contents. Maybe House and Contents, I'd have to check.

(5)A couple of people have told me, that as a long time customer of their insurers the company has given them a higher limit than a new client would receive, has anyone else come across this?

No.

(6) Has your insurers forced you to add more security products to your workshop as part of your policy?

Not forced, no, but the premium is cheaper with a 5-lever mortice lock and alarm system.

(7) I do hope that no one has cause to answer this one, but if you have had anything stolen from your workshop or if you have had to make a claim for any other reason, how did the company treat you and your claim? Did they give you the run around or did it go smooth and fast?

One claim for accidental damage a few years ago, when a cupboard full of metal fell off the wall and landed on my P/T...
Claim settled promptly and without fuss.

We were with Alliance and Leicester, but I think Zurich were behind them at the time, and we have recently been told our policy is being transferred to Zurich. Recommended.

Cheers
Steve

 

[Mike.C]

Hi Guys, thankyou very much for partaking in the poll especially those who have taken the time to answer the questions, it is very much appreciated.

To everyone else COME ON GUYS, (hammer) i need a lot more members to take part if i am going to get the information i need.

Once again thankyou to those who have replied so far.

Cheers

Mike

 

[Alf]

Same as Martin - Saga. Yes I know, I look so young... Technically it's the old man's workshop - just don't remind him. :-$ Periodically I badger him about whether everything's really properly covered, and he did double check just recently, but still I worry. Do Saga really appreciate just how much one lunatic can pack into one workshop...? :-k So anyway, that'd be:

1. Yep
2. Nope
3. Dunno & presume so
4. No idea
5. Nope
6. Nope
7. n/a

Sorry, not wildly helpful...

Cheers, Alf

 

[Mike.C]

Cheers Alf, I very much appreciate it.

Mike

 

[Adam]

(1) Yes

(2) No

(3) Dunno, but its enough, and I've got lots of tools. I did up the house contents by £20K just to be sure. Furthermore, I upped the buildings insurance by £5K to cover the workshop building, even though its wooden. I bet most people think its covered with their buildings, but thats based on the surveyors assesment of the rebuilding cost of your house.

(4) It did have to be locked, but no specifications on that.

(6) no

(7) n/a

 

[ike]

1,2) Outbuildings inclusive
3) £5K, probably OK for theft, marginal for fire. Consider acceptable cover when weighed against solid security and fire prevention measures.
4) No comparisons. H&C £150 (CIS)
5)No. Standard NCD scale applies.
6) Advised too but no penalty for not doing so (excluding standard NCD scale).
7)Yes but from shed, not workshop. No hassle claim, even though I didn't know they insisted on "new for old" replacement value.

 

[Nigel]

(1) Yes

(2) No

(3) £2000

(4) building & contents £360

(5) No

(6) No

(7) No

Mike your poll made me inquire for a better deal
and a quote from SAGA is £282 unlimited cover on the workshop within the £50000 contents cover, provided the workshop is within 100m of the house
Awaiting the written quote which I will probably take up

Nigel

 

[Steve Maskery]

Mike, I think your Poll is an excellent way of raising the profile of the importance of good insurance.

Well done, that man!

Cheers
Steve

 

[Mike.C]

Adam, ike, Nigel and Steve, thank you for taking the time to take part in the poll, as i have said to the others i am very grateful.

Steve thanks for your comments. By the way i like your router tenon jig in this months Good Woodworking, very handy =D>

Nigel wrote:

Mike your poll made me inquire for a better deal and a quote from SAGA is £282 unlimited cover on the workshop within the £50000 contents cover, provided the workshop is within 100m of the house.

SAGA does seem to be very well suited to the home workshop, i will certainly be giving them a call.
The 100m you mention is this the only clause they want to include?

mahking wrote:

It is terrifying when you do an inventory and add up what you have in there.

It certainly does. I did mine yesterday and if i had to renew everything in my workshop, the cost would be over £10,000. Hand on heart i do not have anything more than the average member, and so it soon mounts up. I suppose if you were to buy everything at once you would notice how much you are spending, but buying it over a few years it does not seem so much.

The trouble is the more you have got the more you have got to lose and although Andy (dedee) makes a fair point.

This is probably enough as i rekon that only the easily portable toolswould be stolen.

what if there is a fire? This takes no prisoners, and what the fire does not destroy, water from the firemens hoses will probably kill off.

So IMHO insurance is a must, and if your insurance company does not do the cover you require, then vote with your feet until you find one that does, but before you go let someone with a bit of clout know why you are taking your business elsewhere, because if enough people do this, the insurers that don't cater for our needs may get there act together.


Once again thanks to you all, and to the rest " [-o< COME ON YOU LOT HAVE PITY ON ME IT WON'T TAKE YOU MORE THEN A FEW MINUTES[-o<

Cheers

Mike

 

[Woodythepecker]

For heavens sake put him out of his misery he's driving us around the bend with this research. Well maybe not :^o, but he certainly going to town with it.

Regards

Woody

 

[Jake]

Doubt I'm properly insured at all - but happy to self insure

 

[Mike-W]

(1) yes
(2) no
(3) dont think there was a max level, but I asked for £5000 cover.
(4) cost me less than £2.00 PA to increase outbuildings cover from £500.
(5) no, but maybe £2 PA (see 4) is a reflection of long term loyalty to my insurer?
(6) no, but I have done so anyway.
(7) thankfully no.

I'm with Frizzell (Liverpool Victoria), I thought the price was very fair.
Mike

 

[Mike.C]

I notice that there are 12 members who do not have insurance, without being to personal is there any chance that you can tell me why?

Also if those of you that have got insurance do not want to take part because for instance you do not want to give the name of your insurers, again because it is too personal then you do not have to give their name. In fact you do not have to answer all of the questions, just answer the ones you feel happy with. I am now 99% certain that i have got a better insurer, so that part of the poll those not matter so much now.

If anyone does not want to put any of their details on the net, then you could send me a pm with them. I can assure you that i will not pass them onto anyone else what so ever.

Any help into this research will help a great deal.

Cheers

Mike

 

[Nigel]

Mike
It was not a stipulation but part of the policy

I believe the 100m distance covers any outbuilding not just a workshop,

That is if its within 100m then its covered by the contents insurance

Nigel