Container insurance
Discussion
I’m not sure if this is the correct part of the forum. Mods move if necessary.
Our archery club has obtained a 40ft container partly storage and partly workshop. It’s sited at a local leisure centre where we are building a field course.
We’ve looked for quotes for insurance and the only one we’ve had so far is for £600 which seems a bit steep. Does this sound reasonable and can anyone recommend any companies we can try.
It will contain club bows and power tools so possible £3k max value.
MOMACC said:
That's reasonable.
However in 5 years you'll have paid more in premium than the contents value.
I'd be self insuring for such a low total sum insured.
What is the excess?
I’m tempted to go that way but others in the club I suspect are more risk averse. I don’t know any details about the policy itself, just the total cost. As someone said above I think we’re struggling to get quotes.However in 5 years you'll have paid more in premium than the contents value.
I'd be self insuring for such a low total sum insured.
What is the excess?
The container itself is not visible to anyone just passing and has 2 good locks on it so is probably pretty safe. I’ll raise the subject of just doing without and see how it’s received.
Drawweight said:
I’m not sure if this is the correct part of the forum. Mods move if necessary.
Our archery club has obtained a 40ft container partly storage and partly workshop. It’s sited at a local leisure centre where we are building a field course.
We’ve looked for quotes for insurance and the only one we’ve had so far is for £600 which seems a bit steep. Does this sound reasonable and can anyone recommend any companies we can try.
It will contain club bows and power tools so possible £3k max value.
A 20% rate sounds pretty expensive.Our archery club has obtained a 40ft container partly storage and partly workshop. It’s sited at a local leisure centre where we are building a field course.
We’ve looked for quotes for insurance and the only one we’ve had so far is for £600 which seems a bit steep. Does this sound reasonable and can anyone recommend any companies we can try.
It will contain club bows and power tools so possible £3k max value.
I would try a local Insurance broker and get them to do the work.
I'm in the "good locks and self insure" camp.
The container I used to use that housed a small fortune worth of aircraft spares (and now plays host to a de-rigged aircraft worth multiples of your kit) had a shield over the lock which meant short of an angle grinder and a lot of patience you weren't getting in (There was no access to the locking bar - you could only get access for the key). No pictures to hand unfortunately.
The container I used to use that housed a small fortune worth of aircraft spares (and now plays host to a de-rigged aircraft worth multiples of your kit) had a shield over the lock which meant short of an angle grinder and a lot of patience you weren't getting in (There was no access to the locking bar - you could only get access for the key). No pictures to hand unfortunately.
Neptune188 said:
I'm in the "good locks and self insure" camp.
The container I used to use that housed a small fortune worth of aircraft spares (and now plays host to a de-rigged aircraft worth multiples of your kit) had a shield over the lock which meant short of an angle grinder and a lot of patience you weren't getting in (There was no access to the locking bar - you could only get access for the key). No pictures to hand unfortunately.
As said. Exactly this. Steel protective shroud over a suitable padlock. The container I used to use that housed a small fortune worth of aircraft spares (and now plays host to a de-rigged aircraft worth multiples of your kit) had a shield over the lock which meant short of an angle grinder and a lot of patience you weren't getting in (There was no access to the locking bar - you could only get access for the key). No pictures to hand unfortunately.
The market for stand alone contents insurance in a steel shipping container in the open is slim - one or 2 specialist MGA's will likely write the business.
It doesn't fit on a combined policy which also has liability insurance, you could look to go down this route via a specialist I.e. sports cover but you'll probably find they want proper club house type buildings and would maybe cover the container if you were also insuring a club house / bar etc.
£600 is cheap
£120 commission to the broker
Admin costs of the insurer, reinsurance and funds into the claims pot it's not necessarily profitable and a total loss rather than a partial loss is more likely.
Actually if a broker approached me asking to underwrite I'd want a grand minimum premium.
OP you need to understand the excess and terms
Certain locks may be required
An alarm may be required
Always understand the small print as it can catch you out.
It doesn't fit on a combined policy which also has liability insurance, you could look to go down this route via a specialist I.e. sports cover but you'll probably find they want proper club house type buildings and would maybe cover the container if you were also insuring a club house / bar etc.
£600 is cheap
£120 commission to the broker
Admin costs of the insurer, reinsurance and funds into the claims pot it's not necessarily profitable and a total loss rather than a partial loss is more likely.
Actually if a broker approached me asking to underwrite I'd want a grand minimum premium.
OP you need to understand the excess and terms
Certain locks may be required
An alarm may be required
Always understand the small print as it can catch you out.
Ex firework display company owner here. I know about container security.
You NEED a shrouded lock cover, as mentioned above, and a decent appropriate lock. Below has a pic of the exact type of shroud and lock you want:
https://www.padlocks.co.uk/products/shipping-conta...
With a shroud lock they now look at cutting to gain entry.
Also use a normal padlock on the bottom door clasp thing. This stops the casual observer from pulling the bottom of the door out (bending it) to take a peek inside - though in your case - you might actually want them to see.
MOST importantly, if you want to stop theives getting in the most common way, you need to hire a welder to come and drill 4 holes and weld 4 bars in place. You are basically putting holes inside the door jams, and metal bars welded to the door inside edge - so when the doors close, the metal bars go into the holes. (might be the other way round with the bars and holes).
You do this because THE most common way for container theft is cutting the 4 door hinges with an angle grinder. They are soft steel and easy to cut. The doors just fall off. But, with the metal pins in place they don't.
Just ake sure your container never looks like its a firework store (very common - how 99% of shops and display companies store them - in containers at least 80m from public paths). If crims think it's a pyro store you become a hot target. They will go to extraordinary lengths.
Still, I kept mine discreet and told as few people as possible of its contents and worst that happened is someone stole the solar panel off the roof.
You NEED a shrouded lock cover, as mentioned above, and a decent appropriate lock. Below has a pic of the exact type of shroud and lock you want:
https://www.padlocks.co.uk/products/shipping-conta...
With a shroud lock they now look at cutting to gain entry.
Also use a normal padlock on the bottom door clasp thing. This stops the casual observer from pulling the bottom of the door out (bending it) to take a peek inside - though in your case - you might actually want them to see.
MOST importantly, if you want to stop theives getting in the most common way, you need to hire a welder to come and drill 4 holes and weld 4 bars in place. You are basically putting holes inside the door jams, and metal bars welded to the door inside edge - so when the doors close, the metal bars go into the holes. (might be the other way round with the bars and holes).
You do this because THE most common way for container theft is cutting the 4 door hinges with an angle grinder. They are soft steel and easy to cut. The doors just fall off. But, with the metal pins in place they don't.
Just ake sure your container never looks like its a firework store (very common - how 99% of shops and display companies store them - in containers at least 80m from public paths). If crims think it's a pyro store you become a hot target. They will go to extraordinary lengths.
Still, I kept mine discreet and told as few people as possible of its contents and worst that happened is someone stole the solar panel off the roof.
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