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Workshop insurance

Which is the best

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Peter Simpson 229/03/2011 14:39:15
28 forum posts
1 photos
Hi Guy's
I have just completed fittng out my new timber workshop. As it's not attached to the house I'm looking to get the contents insured, up to about £10000. could anybody advise me on a reasonable policy as our household policy will only cover £2000 which is not worth the bother.
Thanks for any info given.
Peter
Terryd29/03/2011 14:59:43
avatar
1946 forum posts
179 photos
Hello Peter,
 
I was unfortunate to suffer a complete garage workshop loss in a devastating fire last year. The garage is detached from my bungalow.
 
My insurance company have just settled for a very large sum, much larger than you propose. I am insured with Natwest insurance for both buildings and contents and there is no limit up to the 50,000 I agreed for contents although they accepted the losses proportionally in case of a further house fire.
 
The insurance appears expensive compared to the so called 'best price' insurances and I was going to change it for one of those. Am i glad I didn't? The relatively small difference in price is worth the peace of mind believe me. Don't scrimp on this and discuss your needs with the insurance company before you commit.
 
Just to frighten you I have included below a picture of the fire (which a neighbour took).
 

 
Best regards
 
Terry
EtheAv8r31/03/2011 09:45:29
avatar
111 forum posts
3 photos
Hello Peter
 
I have just (last week) renewed my Home and Contents insurance - I have been with LTSB for donkeys years.... but after a 14% increase last year followed by a 24% increase with the latest renewal from them (only two claims in the past 33 years and none for 10) I decided enough with this inertia/loyalty stuff and cast around for alternatives.
 
I renewed with unlimited rebuilding cost cover, £100,000 Contents cover and saved £190 on the cost of the renewal premium from LTSB. They included outbuilding/workshop cover of £10,000 and workshop contents of £10,000 (workshop must be sucured with appropriate locks) within the standard policy e.g. at no extra cost.
 
It is underwritten by one of the big ones - here is their web site http://www.insure4retirement.co.uk/pages/buildings-insurance' - but you have to be over 50.....
 
Edmund
John Stevenson31/03/2011 12:58:41
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5068 forum posts
3 photos
I am just going thru this renewal lark at the moment and a word of warning, if you do ANY welding then most of these policies are null and void.
 
I used to be with AXA but they kept jacking it up and the online quotes as soon as welding was mentioned they bailed out.
AXA was one of the online options so i rang them direct and they said no they didn't want the business, when i pointed out the current policy was with them they stated that they would honour existing policies [ at an increased premium ] but would not accept new ones.
 
The company I went with last year have now sold part of their business off so I'm now looking again but the welding certainly puts the lid on it.
 
Unfortunately you only know how good the policy is after you have made a claim and if they can find a loophole to crawl thru they will.
 
Terry was fortunate and from what I remember his fire was caused by an electrical fault, I wonder how good his policy would have been if he had been welding ?
 
John S.
Peter Gain31/03/2011 16:33:42
103 forum posts
Hi John,
I will soon be renewing my household policy & wish to include my workshop so I am very interested in this post. You state that insurance companies will not accept welding activities. Without wishing to sound pedantic, do you know if the use of propane gas for brazing/silver soldering is considered in the same light? And does the ban include electric welding?
Peter Gain.
 
 
 
Peter Gain31/03/2011 16:36:12
103 forum posts
Hi John,
Have just re-read your post. I now see that you state ANY welding, so that answers part of my question.
Peter Gain.
Stephen Benson31/03/2011 17:10:46
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203 forum posts
69 photos
I am with Walker Midgley they specialize in homework shops
 
 
Friendly and the forms are written in a very straight forward way you choose how much cover you need,
Steve
Speedy Builder531/03/2011 19:05:23
2878 forum posts
248 photos
Come and live in France. I insure with AXA for home insurance which covers outbuildings. I listed all my workshop tools with current replacement costs of just under 30k euro, and visited my broker. They confirmed in writing that I would be covered for contents up to 50k, and re-building up to 200k - ie house and outbuildings.
 
There was no mention of restrictions.
 
In my workshop, besides the normal extinguishers, I have an automatic powder extinguisher (hell of a mess if it goes off) . All solvents etc I keep in a steel locker - first line of defence, but I accept is not a totally secure soloution.

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