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Sounds like your policy is way more specific than mine. Mine it’s pretty much, ok you whack bits of metal together so here’s some cover incase they come apart!
I think there’s a bit of public liability in my policy but because I don’t have a premises people come into really it’s not much, it’s all product liability really.
I ended up paying the £300 premium, I rang another broker who was like “yeah we won’t be able to beat that”. I also asked my broker if reducing my expected turnover figures (which were way over my actual turnover) would lower the price but even the inflated figures were at the bottom end of the bottom rung on the ladder so it wasn’t going to change anything.
M_V-
Sounds like you've got a really good deal.
My broker only found one insurer that was interested and it was seen as 'manufacturing' with professional indemnity for design, some sports-product risk and some public liability all thrown together.
Part of the problem noted by the insurer was that there isn't an official certificate or training route that is recognised. Although it seemed to reassure them enough that I'd done the fillet brazing course at the bicycle academy (and the other industry experience I suppose).
Fishfabs
I got cover for framebuilding and it added about £500 to my already huge premium.
I'm not an expert but from what I gathered:
There is the complication/risk of 'sports equipment' and the liability is in 2 parts - the making and then the designing - public liability and professional indemnity. I got product liability but can't remember if the bike frames fell into that category.
So if you are doing the bike fit you are technically designing the frame for somebody and if they get an injury because it doesn't fit, your insurance company will be fighting the lawsuit so they want to charge you more. Likewise for the actual making if a frame fails and an injury happens, that's the public liability element, as I understand.
So you could keep a premium lower (or try arguing it should be lower) if every customer specifies their own geometry or has a bike fit - or just take the professional indemnity risk yourself as it's minimal really.
Somebody may correct me but I'm pretty sure that legally a sole trader only needs employee liability insurance. Any other cover is optional, although advisable. Don't take my word for it though.
Sorry if you knew all that already and I was just waffling 🙏