Insurance

[Ghodder]

Hi was wondering if anyone and I am sure you do insure your equipment in an out building? I have been told by home contents that they only cover up to 1500 on aviva and a few others.
I am lucky to have a new lathe arriving soon and have a fair amount of equipment chucks etc which need cover.
I have photographed and made many notes of serial numbers etc. And have had it all alarmed to the house alarm circuit. But should heaven forbid be a fire etc I can see me only getting a fraction back on the contents.

So my question is do you have insurance or have you come across insurance which covered us hobby turners?

Thanks in advance

[Bryan Milham]

I'm not sure but I think you may be confusing things.

There is a maximum amount that some companies will insure without calling it a named item.

If your new lathe costs in excess of whatever amount your insurance company quotes, it should be insurable as a names item with an associated replacement value.

Your tools should be covered as individual items under the general policy cover.

Home contents to a value of £1500 in today market does not go very far at all,

[Ghodder]

Hi thanks I have purchased a VL300 on its own much more than the £1500 they quote. They said as it is not a movable item they cannot class it as part of the insurance and won't accept it as part of an additional item because its kept in an out building? don't really understand where they are coming from. They say people with expensive bikes etc now obtain specialised insurance. Was just wondering what others are doing re insurance. Someone mentioned that the AWGB do an insurance but I think thats only for demonstrators etc.

I will pursue this with other insurers this week.

cheers for the info

[John D Smith]

 Hi you are misinformed the AWGB do not do insurance or give advice on insurance clubs do their own insurance via Tennyson/Zurich

                               Regards John

[Ghodder]

Thanks for clearing that up but was wondering what others do? I can't be the first to come across this issue of how to get insured?
Garry

[John D Smith]

 Hi Garry,
               For what equipment I have my house and contents insurance is ok for our Club equipment the Tennyson/ Zurich insurance gives us ample cover I think you have to write down exactly what you want then get some quotes.

                                                 Regards John

[Dave Atkinson]

Hi Garry

I had the same problem when I asked Direct Line to cover the contents of the workshop.  They told me and indeed wrote to me and said only equipment in a building attached to the house would be insured - i.e. The garage.

I went to The NFU and they insure my shed contents. 

Hope that helps

Cheers Dave

[Ghodder]

Thanks give them a call tomorrow was that under their home insurance or separate insurance? Just so I know what to ask for cheers garry

[fuzzyturns]

I have in fact only yesterday renewed my buildings and content insurance (through the AA). The same question got asked (any valuable item over £1500), and I mentioned my lathe, only to have the sales lady phone me back a few minutes later to say that it wasn't jewelry or art, it didn't need to be a named item and was covered by the insurance. My workshop is a glorified shed in the garden (i.e. not connected to the house). The lady from the AA even went so far to say that if one particular insurer didn't want to cover the lathe, they would simply switch my policy to a different insurer who would.

Might not be the cheapest, but it certainly covers my needs perfectly well.

[Paul Hannaby]

The cover varies considerably depending on the company so the answer is to shop around until you find what you want.

[Dave Atkinson]

Garry

My policy with NFU is home contents.  Paul is right - shop around.

Cheers Dave

[Martin Lawrence]

  I'm with the NFU normal home contents insurance with up to £10,000 cover for my workshop included. Always worth ringing round but I could not find anyone to come close to NFU.

Cheers Martin.

[wellturnedout]

Hi, I have my workshop contents insured for £12000 through a company called ins for retirment.
This is over and above my main house ins . the workshop itself is covered in the house ins.

[Dave Brookes]

I know this topic raises its head from time to time but I am in the process of re-insuring house, contents, workshop+contents and public liability.  The last two I have always done through Ian Wallace but was looking to put them all under one.
Having just come off the phone with Direct Line and now finished laughing, I thought I would share the incredulity, despair and disbelief!
Being an honest chap, I answered the questions truthfully including the fact that I use a small oil filled radiator as heating .............. WELL that was not acceptable as the oil is flammable and therefore a fire risk, even when it is encased in, for all intents and purposes, a metal tank.  The fact that I have a bunded 'flam cupboard' containing possibly a greater volume of flammable substances than that contained in the radiator, did not appear to be an issue.
WHAT I COULD HAVE THOUGH was, a fixed electric fire, a convector heater or a halogen heater because they are all electric.
It beggars belief!
Oh, and the fact that garage doors are still fitted to the front, albeit impregnable as they are screwed shut and have a wall behind them, was also a limiting factor.
Still waiting to hear back from the NFU.

Dave

[Graham]

Dread to think what they would say about my woodturner then