Workshop insurance for hobbyist

[Cerb420James]

Hi everyone,

I’m looking for some pointers regarding workshop insurance. As I am not a business I need a personal policy for a vehicle maintenance workshop I have taken on. I use it to store and maintain my cars however insurance companies seem to find that difficult to insure….

Any suggestions? I have always been with NFU but they seem to have become much like the rest in terms of customer service over the years.

Thanks in advance,

James

[FMOB]

Cerb420James said:

Hi everyone,

I’m looking for some pointers regarding workshop insurance. As I am not a business I need a personal policy for a vehicle maintenance workshop I have taken on. I use it to store and maintain my cars however insurance companies seem to find that difficult to insure….

Any suggestions? I have always been with NFU but they seem to have become much like the rest in terms of customer service over the years.

Thanks in advance,

James

I would agree about NFU, they have joined the race to the bottom.

Regarding insurance, you might make more progress talking to business insurers rather than domestic insurers.

[Simpo Two]

Cars are insured already; wouldn't tools go on the household policy?

[Fatboy]

Simpo Two said:

Cars are insured already; wouldn't tools go on the household policy?

MOT household policies have a relatively low limit for tools etc. that are kept in the garage/shed ime...

[Simpo Two]

Fatboy said:

Simpo Two said:

Cars are insured already; wouldn't tools go on the household policy?

MOT household policies have a relatively low limit for tools etc. that are kept in the garage/shed ime...

I thought that maybe 'valuable items' could be detailed and covered within the same policy. How about if the building had the correct quality BSxxxx locks?

[FMOB]

Simpo Two said:

Fatboy said:

Simpo Two said:

Cars are insured already; wouldn't tools go on the household policy?

MOT household policies have a relatively low limit for tools etc. that are kept in the garage/shed ime...

I thought that maybe 'valuable items' could be detailed and covered within the same policy. How about if the building had the correct quality BSxxxx locks?

To me it sounds like this vehicle storage/maintenance facility is separate from the OP's home and looks like, sounds like a commercial property. It may well have been a commercial business and despite the OP using it now for private purposes it is still viewed as a commercial property hence domestic insurers not wanting to cover it.

[alscar]

Maybe easier to just speak to a Insurance broker and let them do the work.

[Cerb420James]

Thank you for your replies.

I have sent some enquiries off but brokers and “work” is a term I have struggled to articulate in these conversations. They seem to struggle with the concept I am proposing.

Thanks again everyone.

Also - again point me in the right direction if here is not the place to enquire.

I would like to strip this property if it’s assets and relocate them to the Cheltenham area.

Is there an enthusiast or motor club that may be interested in a joint venture equipping a premises for solely for club members to use as a maintenance facility?

Just a thought.

Best regards

James

[alscar]

Cerb420James said:

Thank you for your replies.

I have sent some enquiries off but brokers and “work” is a term I have struggled to articulate in these conversations. They seem to struggle with the concept I am proposing.

James, there are sometimes brokers on here that reply but otherwise pick someone local to you and try a phone call if you haven't already.
You possibly need a Commercial broker or at least a general one.

[Cerb420James]

Thanks. I am waiting to hear back from classic line. I use them for my TVR and RR p38 insurance. As a rule they have been pretty good. Will keep you updated.

James

[Pit Pony]

FMOB said:

Simpo Two said:

Fatboy said:

Simpo Two said:

Cars are insured already; wouldn't tools go on the household policy?

MOT household policies have a relatively low limit for tools etc. that are kept in the garage/shed ime...

I thought that maybe 'valuable items' could be detailed and covered within the same policy. How about if the building had the correct quality BSxxxx locks?

To me it sounds like this vehicle storage/maintenance facility is separate from the OP's home and looks like, sounds like a commercial property. It may well have been a commercial business and despite the OP using it now for private purposes it is still viewed as a commercial property hence domestic insurers not wanting to cover it.

I suggest treating is as a business register for self assessment and offset your losses against tax.

I'm not an accountant, but hey...

[Fatboy]

Simpo Two said:

Fatboy said:

Simpo Two said:

Cars are insured already; wouldn't tools go on the household policy?

MOT household policies have a relatively low limit for tools etc. that are kept in the garage/shed ime...

I thought that maybe 'valuable items' could be detailed and covered within the same policy. How about if the building had the correct quality BSxxxx locks?

In my experience, you can easily cover things like bikes on a named item value, but I struggled to cover all my tools (not hard to go over the typical £5k limit on a new for old basis when I have a lathe and a mill!). That was through a broker (Adrian Flux), but maybe someone like nfu or hiscox would be better...
They never asked about garage security, but that's a good point I'll check if they would be more flexible with bsxxxx locks etc.

[spaximus]

I have a garage with professional tools from when I was a mechanic. I only found two place that will insure them at the level I wanted.

One was Hiscox who were very very expensive and NFU which I added onto my household policy with them, which was not that bad.

The garage is a triple one at the bottom of the garden so less secure than attached.

Might be worth contacting Howdens at Thatcham they do Kits self build etc so might know where to look for what you need

[dobly]

alscar said:

Maybe easier to just speak to a Insurance broker and let them do the work.

This is the answer - a local company will be able to sort you out. You don’t need to go to a “name”, just a decent independent broker in your local town. Their job is literally to find, through their experience and contacts, exactly what you need, and they get paid by getting this business for the insurers. There will be a good number of these businesses in most towns - if you can’t find one go to the next biggest town.

[Cerb420James]

Thanks for the tips chaps.

Will see what they come back with next week.

[Cerb420James]

NFU managed to sort it out in the end!

Had to list it as an out building on the contexts insurance and they agreed the value

[alscar]

Glad it was sorted -thanks for reporting back.