Workshop contents insurance

[ebgbsuk]

Hi, Bit of a newbie here and was looking for some help.

I'm wanting to insure my workshop and tools etc which I use for DIY/hobby use only - I only seem to be able to get business insurance, which seems pointless and expensive.

My building and contents insurance does not cover the true value of my tools either.

Has anyone got the solution??

 

[tim]

Welcome

Try searching the forum - its been done to death with very little positive outcome.

Cheers

Tim

 

[woodbloke]

All my stuff is insured on my normal household contents policy - Rob

 

[BradNaylor]

My partner and I worked out that contents insurance premiums for our workshop came to around a quarter of the replacement value of all our gear - each year!

Consequently we have just plumped for liability insurance and extra security measures on the door and windows!

Insurance is a gamble with the odds stacked in favour of the insurance company. My view is that it is only worth taking out for things you could not afford to replace - like your home.

 

[wizer]

My view is that it is only worth taking out for things you could not afford to replace - like your home.

Remind me of your address?



:lol:

 

[frugal]

Hi, Bit of a newbie here and was looking for some help.

I'm wanting to insure my workshop and tools etc which I use for DIY/hobby use only - I only seem to be able to get business insurance, which seems pointless and expensive.

My building and contents insurance does not cover the true value of my tools either.

Has anyone got the solution??

Try Hiscox. They have the most comprehensive contents insurance policy I have ever seen. All of our re-enactment kit is covered regardless of whether it is in the house, in the trailer on the drive, or pitched in the middle of a field.

 

[SP]

All my stuff is also covered on my household insurance with the Pru. I called them to check it out.

Stephen

 

[ebgbsuk]

Thanks guys for the info.

My buildings and contents insurance does not cover the full value of my kit, though the the WS is like Fort Knox, just missing machine gun turrets - which maybe a cheaper option.

I find it really strange that there isn't an insurance company who specializes in this type of insurance, there's a niche in the market here and some cash to be earned. I'll write to Richard Branson!!

 

[Rich]

Hi newbie, (it would be nicer if you signed off with a proper name) I have a pir alarm system, no handles on the outside of the doors and 2 four-legged friends, as others have said you can only go so far with insurance and a balance has to be reached, my experience with insurance companies is they are very quick to take your money but always dither when a claim is made, I can understand that they need to send an assessor to confirm the claim but this is only because so many are making false claims and pushing up the premiums of those who play by the rules.
regards,
Rich.

 

[ratkinsonuk]

Just for reference, I contacted Hiscox, but they couldn't offer me insurance on my workshop without taking full house insurance as well. Even then, it's not a bespoke policy.

Rob.

 

[frugal]

Just for reference, I contacted Hiscox, but they couldn't offer me insurance on my workshop without taking full house insurance as well. Even then, it's not a bespoke policy.

Rob.

Sorry, I should have been clearer: If you take out your house insurance with Hiscox, then your workshop will be covered as well.