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Yeah I know the numbers will be very different, I was just asking about who you guys were insured with as you know, for car insurance you go to compare the market, lve, direct line etc but I had no idea where to even start looking for liability insurance. But I’ve gotten over that hurdle now so it’s all good.
Yeah I’m working out of a garage at my flat. Pretty much a lock up. I’ve asked for just liability insurance, not cover for the workshop (would probably be illegal to have the garage double insured) or tools, stock etc.
Given that I’m using oxy propane rather than acetylene, hopefully I can keep the council out of it.
I’ve elected to not let my home insurance know about it as the way I see it the risk is similar to keeping a gas barbecue in the garage and you wouldn’t have to declare that. From what I’ve read as soon as you mention brazing or welding to insurers they shit themselves because they don’t understand it so you’d get a situation where the same insurer would be fine with the old biddy that lives below me that chain smokes and has a flat full of oxygen cylinders because she has emphysema but would refuse to insure me because I’ve got one cylinder chained to my garage wall.
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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