Insurance Woes

  1. GrahamGKD

    GrahamGKD Forum Supporter

    Messages:
    1,132
    Bournemouth UK
    I'm hoping others have come up against this problem and that someone has a solution? I'm really struggling with my home insurance renewal. All the quotes I have looked at seem to make a big issue of whether I run a 'business' or not at the property. The truth is that I have a hobby but I charge people money for odd metalwork jobs and sculpture and I have a website for the sculpture, so it is quite visible. To keep things above board I have an accountant do books for me and fill out a tax return. Some years I make a profit, others not. I am early retired and receive my meaningful income from other sources.


    I would accept having my tools and metalworking kit uninsured since I reckon my workshop is pretty secure but what I am now worried about is that my whole home and contents insurance could be invalidated because of interpretation of whether I run a business or not?


    I did go down the route of having one insurer check with the underwriters to see the effect of including cover for a business, but the outcome was that the additional premium would have been more than I make on a good year!


    Any thoughts / suggestions please folks?
     
  2. Shox Dr

    Shox Dr Chief Engineer to Carlos Fandango

    Messages:
    12,432
    Location:
    East Yorkshire
    I’d shop about, my house has planning to be used as a small engineering workshop. Its never effected our house insurance that I’m aware of
     
  3. rtbcomp

    rtbcomp Moderator Staff Member

    Messages:
    17,294
    Location:
    Sheffield UK
    If you make money (or intend to) above your out of pocket expenses it's a business and the insurance companies regard it as such.
     
  4. tlovatt Member

    Messages:
    785
    Rugby, UK
    Have you tried talking to a broker, a good one will probably find you a reasonable solution and they know the rules better than us mere mortals. My insurance is through Cornmarket (I use them as I have IAM car insurance and that is who they use) They have been really good at finding the right deal.
     
    atomant48 and slim_boy_fat like this.
  5. Hitch

    Hitch Moderator Staff Member

    Messages:
    11,317
    Somerset
    Try Towergate Insurance, really helpful with slighly unusual policies ive had to take out over the last year or so.
     
  6. GrahamGKD

    GrahamGKD Forum Supporter

    Messages:
    1,132
    Bournemouth UK
    Thanks folks. I've sent an enquiry to Cornmarket and will phone Towergate in the morning. Fingers crossed.
     
  7. mike os

    mike os just a little insane.....

    Messages:
    5,435
    Location:
    North Wales
    Try nfu as well
     
    CompoSimmonite likes this.
  8. winchman Member

    Messages:
    2,072
    Location:
    Merseyside
    Keep us informed, NFU will possibly do it but they quoted me twice the price! The other two brokers should sort you out
     
  9. When I was in the same situation the sticking point seemed to be whether or not "customers" came to the house . Same situation with public liability. I found a broker who in turn found the solution.
     
  10. decca

    decca Forum Supporter

    Messages:
    449
    Location:
    Crawcrook, Gateshead.
    Plus one for Towergate. Very helpful for unusual policies.
     
  11. GrahamGKD

    GrahamGKD Forum Supporter

    Messages:
    1,132
    Bournemouth UK
    I am pleased to say that Cornmarket sorted me out. Thanks for all the recommendations folks.
     
  12. GrahamGKD

    GrahamGKD Forum Supporter

    Messages:
    1,132
    Bournemouth UK
    Indeed, the cover I have gone for excludes liability for any customers who might visit but since no customers ever do visit I don't see that as being an issue.
     
  13. zx9

    zx9 Member

    Messages:
    2,600
    Location:
    South East London
    Mrs. ZX9 sorts out the house insurance so I can not tell you who we are with, IIRC she changes it almost every year but that was the biggie for me, yes I am a vat registered sole trader working from home but no customers ever visit so not a problem. As far as that goes Mrs. ZX9 has a compulsory one day a week working from home and so as far as I can gather do most of the admin staff at the council she works for. You would think it would lower the risk because the property is not left unattended during the day when one of us is working from home.

    I am pleased you got the insurance sorted out, I typed the above more for future readers.
     
    bigegg likes this.
  14. tlovatt Member

    Messages:
    785
    Rugby, UK
    Glad you are sorted - Cornmarket have also remained competitive (with some prodding) over the years, they seem willing to make the underwriters work a bit when you motivate them!
     
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