Insurance

[DK Dave]

Hi all, been employed for 16 years in the engraving industry mainly industrial, so I nearly have everything to go by my self as a sole trader and working from home. Just asking advice what insurance I need, I've rang my home insurance and had a quote with changing that to working from homes/manufacturing, and is it just liability 3rd party insurance I need, for what I produce ? Any advice greatly appreciated, Dave.

[Mick Friend]

I would call someone like Locksure (Ok thats for locksmiths but they do many other trades)

I just got my woodwork shop insured by increasing my cover and that includes liability etc

Locksure Insurance

Main telephone: 0845 686 1800

Email: info@locksureinsurance.co.uk

I'm sure others have their own  as well

But get quotes and check like for like cover - also be aware that use of home can be a minefield especially if you make a noise or have lots of callers - neighbours can turn very quickly as you drag the street down. You may also need to beef up your home security especially if yo have valuable customers property, and you need to check that is covered as well

[gavin]

16 years! get a shop.best thing.

[DK Dave]

16 years! get a shop.best thing.

Yep 16 long years running someone elses business !! Started straight from school.

Foot traffic won't be a problem as I want to be internet based and doing industrial work, I will deliver to local company's or post, as I do now.

So it's just any 3rd party liability insurance I need ?

[Lee]

Libility and your machines against theft etc I'd have thought

[CotswoldEngraver]

Direct Line do specific Work from Home insurance.

 

Includes public liability, machinery and equipment cover (which is not usually covered on your household insurance), customer's property cover for theft from your home, stock, business money in transit etc, personal accident, business interruption and goods in transit.

 

How do I know all that you ask? Just read my work from home insurance policy schedule that I have just cancelled!!

 

I paid £5.50 per month for all of the above.

 

Hope this helps.

Andy

[DK Dave]

I found that one last night and it includes a product liability , will do a quote later on cheers

[DK Dave]

Do I need to add, Professional indemnity insurance ?? So at the mo I've got quotes for liability and product liability, but I can add Professional indemnity insurance, it says if you supply a service and advise .

[SteelCityShoes]

You don't NEED it, but it will cover you if someone wants compensation for something you mess up, or if you accidentally engrave a copyrighted logo and get sued. You're best checking with your insurer what they cover and deciding if you want it based on that

[DK Dave]

Thank you all for your input I've now taken the insurance out. probably took to much insurance out ! But better to be safe as it's my first time as a sole trader. Just a question I had to answer was "do you use power driven woodworking machinery" I answered No , engraving machines surly do not come under that do they ? Just thinking to much I think !!!