My home insurance is up for renewal at the end of this month and thank goodness I got a friendly insurance broker involved last year. As I am now teaching at home he has had a heck of a job finding affordable cover for me so I thought other people may be interested in the results.
The cover includes:
Home buildings insurance (up to £200,00 rebuild cover)
Home contents insurance (up to £40,000) including accidental damage and personal possessions away from home
Stock insurance (up to £500, not much but better than the £0 I had before!)
Cover for working from home, including playing with gas and fire and melty blobs of glass
Up to 2 visitors at a time (ie for teaching people - but it does not include selling from home)
My equipment is not insured - it simply costs too much and is cheaper to take the risk of having to replace the kiln/oxycon etc
I was previously insured with Zurich but the teaching aspect has put them right off so he's spent the last week shopping round for me and was getting desperate! The company he is now using is AXA and if you were to arrange it yourself you would need to ask for the "AXA ABC policy".
OR I am happy to share details of my lovely Swinton broker seeing as he now talks a bit of our language!
Oh, I forgot to ask him how much this is going to cost but he said that Axa has agreed to meet the premium I was previously paying with Zurich, so I think its around £45 per month (includes all my house and contents insurance don't forget).
thanks for sharing this info, Julie! I'm sure it will help lots of people :)
x
Don't bother with the "normal" brokers Julie - what we do is specialised so you'll have trouble finding something suitable.
Give Ian Wallace http://www.craftinsurance.co.uk/ a call.
This is specialist craft insurance - he insures many people on this forum and knows exactly what we do. You NEED good Public Liability insurance for anyone on your premises - teaching or buying and you need way more insurance for stock - and also for bead shows. Tell him what you want to do and he'll give you a decent quote.
Meant to say - this is craft insurance which is separate to your normal Buildings and Contents insurance - this is the easiest and cheapest way to go.
I've got cover with Ian Wallace as well, Sal - for public liability, shows/demos/teaching.
The reason I did the normal insurance broker thing was when I had to renew my home insurance last year and the subject of working from home came up, as opposed to lampworking as a hobby. My workshop is part of the house so maybe that's why it became so complicated!
I'd shop around a bit more Julie. That doesn't sound like a wonderful quote. Like Sal says try the craft insurers, but also don't forget to go via a cashback site like Quidco for your general insurance, you could get £100+ back!
I've always used G.M.Imber's Craftsinsure Starter for Public and Products Liability £5m and Employers £10m for £50 a year http://www.gmisl.co.uk/CraftsInsure%20Starter.html
This is the cover
This policy is designed for craft workers who make their own
products. As such you will be covered for when you trade from a table, stall, pitch, kiosk,
gazebo's, or fixed unit, indoor or outdoor at a market, craft fair, exhibition, shopping mall
(not shops), marquees 20 ft by 20ft or workshops. Cover also applies whilst
working/trading from home.
G.M. Imber & Sons Ltd therefore recommends the following level of cover:
Type of cover
Public Liability £5m
Products Liability £5m
Employers' Liability £10m
Internet/Mail order sales are covered as long as turnover for Internet/Mail order sales do
not exceed £25,000 per annum.
Party planning (i.e. going round to houses of others to display and sell products) is
covered if done only a few times each month.
My question is to all the people using the more expensive Ian Wallace - what are the advantages of going with Ian Wallace instead?
I'm with G M Imber too - the cover is better and cheaper. However, I think Ian Wallace is probably a bit more proffessional and friendly. Another alternative is the Market Traders Federation - you get insurance in with your membership.
I was just wondering because my renewal is due tomorrow ???
My new insurance documents arrived today so I had a quick read through then rang Ian Wallace to chat about it all - I don't want to be insuring stuff twice or paying more than I need to!
Ian Wallace confirms that he doesn't do any home insurance, just craft cover. He says that it is important to inform your home insurance company that you are working from home, and if you have anybody visiting for teaching or buying purposes - and then the chances are that they will not cover you under a standard household insurance policy.
The craft insurance does provide the public and products liability cover necessary for shows etc, with optional add-on for stock and equipment and is absolutely vital - but so is full disclosure of your activities with your household insurer.
Hmmm very interesting...
I need to sort this craft insurance out - asap soon as I'v got a few quid..
And to think I'v been selling jewelery at craft fairs since 2004 with no cover - and never even considered it... :-[
The craft fairs I attend are the kind where the organisers run them and they take 25% on sales with no stall fee. There are volunteers who take money and record sales & at the end they pay for everything including any items which are stolen.. which has happended a couple of times >:( naugty peeps...
Maz
I spoke to my own insurance people about this very recently, and they had some interesting points to make. The craft insurance (IW or GMI) covers the finished stuff we make and sell - regardless of whether it's in public or distance sold.
However, it doesn't cover things that might happen in our houses (including outbuildings) as a consequence of how we make it.
If you're a hobbyist, there's no problem. However, the moment you sell anything, insurance companies deem you to be working from home, and that's a whole different ballgame. If you start a fire, for example, and they find out it was in any way connected to your lampworking, jewellery making, whatever, they will simply refuse to pay any claim. So if you are registered as self-employed or have a webiste, it's pretty easy for them to make the connection.
Mine was not any more expensive, but I did have to declare what I was doing. I opted not to take out any additional cover because it was ridiculously expensive to insure raw materials and stock, and I get about a grand on the regular insurance for bits and pieces anyway. If we had an event that was catastrophic enough to wipe out the lot, I figure I'd have too much to worry about anyway.
I knew lots of insurance companies say your home insurance is invalid if you are working from home/having people at your home, and would be interested to know who you are insured with, George, as they obviously will accept this.
Same here - please tell...
I gather then that both Julie and Sal were right and we need both types of insurance to be fully covered...?
Maz
my home insurance is with NFU Mutual cos my hubby works for them. For £65 a year I had cover added to my policy that covers me if I should have a fire etc caused by lampworking. It classes me as a homeworker. I think it's only available as an add on to existing home insurance rather than a stand alone policy. I also have public and product liability cover included in that. It's called Homeworker Cover.
I'm not recommending them, just telling you what I have.
That sounds like just the job Heather!
So as NFU are insuring your Home as well as your Homeworking, that must cover the fact that you use your home for working too ... if you see what I mean!!
The BSSG ( British Society of Scientific Glasssblowers) have used NFU for several years now. We have our library and trophies insured but more importantly are covered when we do demonstrations at hotels etc.. Public/Product liability etc.. up to £ 5 million and additional to cover buildings etc.. Good value.
Ian
Yup and even covers if I have anyone helping me out at fairs. Will post more detail about cover when I'm home from work. I compared it with Wallace insurance and the NFU cover is actually better. I remember having an argument with hubby at the time that NFU wouldn't beat it, but they do.
I shop around for everything. Provided you know exactly what you need it's the only way to keep prices down. Specializing in an area is fine, but monopolizing it is not, IMO. Healthy competition keeps everyone on their toes.
Yes, I am a rebel who also sourced my own propane hose and connectors and saved a fair bit LOL.
Quote from: Bumpy Beads on May 07, 2009, 07:56:45 AM
I shop around for everything. Provided you know exactly what you need it's the only way to keep prices down. Specializing in an area is fine, but monopolizing it is not, IMO. Healthy competition keeps everyone on their toes.
Yes, I am a rebel who also sourced my own propane hose and connectors and saved a fair bit LOL.
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Me too!
I just had a nightmare posting this! Second attempt!
It's important to mention that the NFU Homeworker insurance is only available as an add-on to existing House Contents insurance. Also it only covers homeworkers with a turnover up to £10k. Any more than that and you would need one of their business policies.
I sorted out my schedule, and the cover for the key items is as follows;
Business Contents £20k (equipment)
Employer's Liability £10m (includes volunteers, friends helping out at craft events)
Public Liability £2.5m
Pollution & Contamination £2.5m
(Stock is covered under the contents element of the household bit of the policy).
When I took out my insurance I phoned the NFU and explained about lampworking and they knew all about it. Having insured the British Society of Scientific Glassblowers for several years I'm not surprised! My flameworking in the house did not phase them in the least. So much so that I kept asking if they fully appreciated exactly what lampworking involved! They were really cool about it, but I confirmed it all in writing to them just so I had proof I had informed them.
I did not ask whether my cover includes demo's away from my home, or teaching at home, as neither of these are things I see myself doing. My resident NFU expert (hubby) says he'd need to clarify whether I'd be covered for demo's, but that teaching at home would be covered. In fact he's paid out on a claim by a potter today who had an incident in his home studio.
When compared to the popular Crafts Insurer, my premium was little different to what they quoted, but my cover is far more extensive.
I want to emphasise that the cover I have may not suit you and I am not endorsing it. However, I hope it demonstrates that there are options available. There is nothing wrong with shopping around, but you must understand exactly what you need.
Hope this helps.
I might have to have another word with my local NFU office! We insure our farm, home and my studio and contents with them and when I asked for public liability for people coming into my studio they said they couldn't do it ???
Hubby says just ask them about their "Homeworker Add On to your Home & Lifestyle Policy"!