Really good cheap insurance

[WelshFramer]

Inspired by the non-existent picture framers thread I thought I'd ask for suggestions on business insurers.

I'm looking for insurance for equipment etc*, and liability should I spill coffee on somebody's precious artwork or if my frame should fall to pieces and break their greek urn.

I'm a sole trader working from home and am not VAT registered (which immediately excludes some insurance companies).

So, can anyone recommend any good deals for picture framer's insurance.

*Theft and fire would be a minimum but accidental damage would be handy (just in case the moulding shelves collapse and damage the CMC or the dogs chew through the all the mouldings).

[prospero]

Insurance companies tend to break their necks trying to sell home insurance, but are not keen at all on insuring businesses. You need to cover your stock and equipment which will vary in value, but generally not flucuate wildly. Then there is customers stuff in for framing and any artwork on SOR. This varies a lot with me, so I keep a basic level of cover and take temporary cover if I have any valuable paintings waiting to be framed. Typically about £30 per 50k per month. (Remember to add this to the bill).

Then there is public liability. This seems to be regarded as fairly low risk so not too expensive.

Covering goods in transit is a good thing to have. many is the time I have had a carload of paintings that were worth more than my house.

I have never made a claim, but it's worth finding out in advance just how companies interpret the rules. A mate of mine once had his window smashed and an oil painting destroyed. Because he had painted it the ins co only wanted to reimburse him for the cost of the paint and canvas.

[lynnbmack]

I also work from home and have found liability for other peoples belongings with www.assure-uk.co.uk. My equipment is covered under my More Than home insurance - who didn't seem bothered that I work from home. I'm not covered for transit as it's something I rarely do unless dropping off a small piece of work to a friend who has no transport etc.

It is certainly worth contacting assure as they are happy to answer questions.

My worry as well was if you did something to someone elses work - every framers nightmare I think!

[The Jolly Good Framer #1]

As well as your normal insurance (contents, buildings etc) you also need insurance for ‘Items Held In Good Faith’. This covers the customers stuff waiting to be framed and collected and any SOR work.

Also if there is any individual piece that is worth a lot of money then you can ask your insurer to cover it on a temporary basis (that will cost but you pass that on to the customer). Or you can tell the customer that you can’t insure the item and they will have to arrange insurance them selves while it is in your shop (make sure that bit is in writing).

As my insurance agent quite rightly told me once, a customer might bring in a painting to be framed worth £20k. That night, strangely enough your shop is broken into and the painting is stolen. The customer was the crook who stole the painting and then claims the £20k on your insurance.

It is for that reason that I will not keep any artwork worth more than £3k in my shop over night. I will get the frame ready and then ask them to bring the painting in and I will fit it while they wait.