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Working from home - what insurance do I need?

Discussion in 'Legal, Insurance, Employment and Health & Safety' started by Pulse MX, Jan 10, 2013.

  1. Pulse MX

    Pulse MX

    Joined:
    Apr 29, 2012
    Messages:
    10
    :( Hi everyone, sorry if this question has been asked before but I need some advice on working from home...
    I run an online retail business selling motocross (dirt bike) clothing.
    My range includes helmets, goggles, jerseys, pants, gloves, socks & boots.
    My stock cost me £30k to buy, and is currently stored in my garage.
    I informed my existing home insurer about my business activities and they told me I was not covered on my existing domestic house policy to carry out this activity from home and they immediately cancelled my home insurance policy...!
    I am therefore currently not insured for my home or my business stock.
    Can anyone recommend a good insurer who can insure me for my home and my business activity..?
    I simply need a domestic policy that covers the usual perils...fire, flood etc...and a business policy to cover my stock.
    I do not employ anyone, I do not have customers visiting my home, we purely trade online.
    Any advice would be appreciated

    J.O.
    VictoriaXx likes this.
  2. Lace

    Lace Retired Moderator

    Joined:
    Mar 21, 2011
    Messages:
    2,057
  3. fd.ltd.uk

    fd.ltd.uk

    Joined:
    Dec 6, 2009
    Messages:
    256
    Insurers are jumpy these days and anything that is not routine leads them to reject you. Unfortunately you will probably have to declare that you have had a policy terminated so it may be a good idea to ask the insurers who dumped you to reconsider or at least chaneg the circumstances so you have terminated it and not them.
  4. Gary

    Gary

    Joined:
    Aug 22, 2009
    Messages:
    16,364
    As above, there is a very fine line between uninsured and uninsurable, and your insurance being terminated by your previous insurer will already deem you as too 'high risk' for many potential future insurers, could you not separate off the insurances in some way, maybe registering the garage as a business premises and insuring it as it's own entity then seeking insurance just on the house? Not sure if that would be possible, if not, then it may be better to just look for alternate storage for your stock so you can be insured on both.
  5. Dean

    Dean

    Joined:
    May 22, 2008
    Messages:
    9,437
  6. Richard hughes

    Richard hughes

    Joined:
    Oct 2, 2012
    Messages:
    18
    Hi J.O.

    That is the trouble with the "bucket shop" insurers. If you don't fit their model they reject you. There are insurers that will pick this up for you. You need to speak to a broker who can do the shopping around for you and is able to present your case in the best light. Having a policy cancelled is on the face of it but not too much of an issue once you explain the reason for it (unless it is one of the "bucket shop" insurers that just want you to fit their model. Depending on your sums insured Hiscox are very accommodating. They are not the cheapest but there service is second to none.

    Give me a shout if you want some help with it and you don't have a local broker.

    Richard
  7. Mitch

    Mitch

    Joined:
    Feb 7, 2009
    Messages:
    1,128
    I use hiscox insurance and have never had a problem.

    Was quite expensive compared to other quotes I got but their wording is very simple and clearly outline what and what is not covered, I found some insurers making it very difficult to understand what they actually cover under what circumstances
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