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2000 units sold
As in 2000 frames, per year? Or ever?
I don’t imagine I’ll be doing many more than a dozen or so a year for the first few years.
Would you or @RunRabbitRun be willing to share the name of your insurer? By pm if you prefer. Like I say, not a clue where to start!
M_V-
Hiscox are the underwriter on the manufacturing part Loyds underwrite the manufacturing equipment and my consultancy work, for a startup you will probably need a good broker, when I worked with the AMRC a very good guy in Sheffield ran a company called Coversure he was great with startup / ideas based companies who were new and very thorough in that you couldn't cut corners and helped find out exactly what your company did to find the right policy.
the numbers thing just outlines their exposure to risk 50000 units out there is a higher risk than 5 , however 1 year being in business is a lot less than 23 or so years of never having had a claim it depends what the underwriters conditions are, they vary considerably , some wont touch a startup without hefty premiums , some just don't understand your business , and this arty farty thing falls outside of some people idea of manufacturing so they have no pigeonhole to put it in
to be honest what you get will be very different to what I get , I tried to explain this once upon a time to a kid on the faceache group , it matters very little what im paying or the next guy, your circumstances will unfortunately be different as each is underwritten on its own factors,
I seem to have reverted to being user 93037
Edit one other thing are you working from your shed in the garden? or do you have premises there may be implications on insurance telling the council etc if working at home and there are most likely insurance implications on having oxy fuel at either business or home
user93037
Nah my liability insurance is 420 a year based on 2000 units sold and 950 to insure the workshop for theft fire and loss of earnings , the insurance for doing military stuff that goes to the bottom of the sea however