Home/Business Insurance

[Nicola McIntosh]

hi john, as far as i know, office insurance covers just as it says, pc, printer, fax machine, telephone, everyday office equipment. i am not sure on plotters, chemicals, rags, the list goes on, (health & safety drive me mad) you can buy seperate business insurance, (employers liability, public etc) but only if on seperate premises, i know i pay a bloody fortune, every year, how does everyone else feel on this subject?

good one john!!

[AaSk4Stickers]

Hi there

It took me a long while to find a company to cover my business activities, working as I do from home. Eventually found a broker who could arrange a composite cover for me. I also have a householders policy for domestic stuff. My brokers are in Powys and have placed the business cover with Axa.

Many companies seem to want to give you cover if you have an office environment at home, but mention sign making or any other small business activity and they run!

My bank said they could help, but as I send the odd order to the US, the premium went up threefold!

If there is enough interest, it’s possible an underwriter could be persuaded to do a bulk deal for members of this group.

[John Childs]

“If there is enough interest, it’s possible an underwriter could be persuaded to do a bulk deal for members of this group.”

The Federation of Small Businesses have already negotiated a group deal. I don’t know if it’s worthwhile but I’m waiting for a phone call to arrange an appoinment. I’ll report back once I have spoken to them.

[John Singh]

Thanks all
Looking forward to your response from the Small Fed, John

I’ve got to do something pretty fast as my House insurance runs out 21 of this month

John

[AaSk4Stickers]

John

I too would be most interested in your feedback.

Cheers

Alan

[Martin Pearson]

John, I’m not trying to be funny at all but what do you do at present about public liability insurance? or are you able to take this out seperatly with no trouble?
It will also be interesting to see what the FSB come back with, I had a quote from their insurance brokers a couple of years ago and it was still more that my local broker had quoted me, the cover didn’t seem as good either, perhaps they have got that sorted now.

[John Singh]

Hi Martin 🙂

Getting Public Liabilty has been no problem. I’ve been covered for many years. Wouldn’t want to be without it!

However I see that some business insurance include public liability so it might be better to have it all done in one package.

I am currently doing a search on the web to see what I can come up with

John 🙂

[John Childs]

Hi Martin.

We’ve spoken about this before on a previous thread – we currently have a motor trade policy which covers all that guff.

I’m hoping that the FSB’s brokers, because that’s all they are, will be able to offer a similar policy, but failing that I will happily separate the different elements. The reasoning is that so few companies offer total motor trade these days that the two or three that are left can charge more or less what they like. If it is possible to get the same overall cover from two or three separate insurers at less cost then that will be a result.

I hope that makes sense.

😀

[John Childs]

Ah well.

No response, or action of any kind, from the FSB.

Just renewed with the Norwich Union.

Grrrrr. (:)

[John Singh]

All very strange 😮

There’s a market out there!!

Did you know that insurers shy away from insuring you if they know you have clients visit your business/homestead. Not sure why! Perhaps the health & safety issue or third party liabilty. Who knows!

Its a nightmare trying to get the right cover

John

[Kevin.Beck]

When my insurance came up for renewal, the same company refused to renew it.
Got the broker next door, to sort it out. She said many companies where just plain refusing to insure me, or were asking for huge amounts.

She said it wasn`t just my business, it was happening to all sorts of businesses.

Ended up paying double what I used to pay.

[Nigel Fraser]

Just a follow on from this slightly old thread as I have just paid out for my insurance renewal today. I work from a purpose built studio at home (part of the main building) and so need cover for the equipment/stock etc as well as buildings.
I used to have a Axa homeworkers policy, but when I bought my edge and I rang to tell them to increase the contents cover, they said that it was too expensive as a “single item” and they couldn’t cover it !
So I was forced to look round for alternatives, I tried the FSB too and was just quoted £1350 for combined home/buildings/business contents and liability(public & employers) cover.
I have renewed with a local broker who offered all except the liability with Norwich Union for £530 and both liability covers for £325 as a separate policy.

Incidentally, van insurance seems to be really expensive on it’s own (unless I’m looking in the wrong places) so I have a Motor Traders policy that coveres me to drive any vehicle fully comp for £320.

Anyway thats just general info for others if youre interested…

Nigel

[John Singh]

Thanks for the update Nigel

I’m glad you were able to get your cover as it can really prove to be a nightmare.

As I seem to fit the bill of your previous situation (prior to your aquisition of the edge) when you were with Axa, the question is what sort of cover did you have with them and how much did it cost you?

Obviously this would only be a guide as geographics and other factors come into play in determining premium

Cheers

John

[Nigel Fraser]

John,

My old Axa policy cover was as follows-

Buildings – £110,000
Business Contents – £25,000
Gross Profit – £25,000
Home contents – £30,000
PLI – £2,000,000
ELI – £10,000,000

which cost £675 🙂

Nigel

[John Singh]

Thanks for the info Nigel

I might give them a shout

Cheers!

John