Insurance, great result

[Chimeara]

Had my renewal through from adrian flux today. Great news they have reduced it by £300 to a not so bad premium of £1275

I have declined though as I have got a great deal on trade insurance. After calling every insurance company under the sun to be told im to young to have a trade policy I finally got there. It seems at my age im meant to be drinking, taking drugs and throwing bricks at windows. If there is one thing ive learnt after my telephone calls today its that young people just arent meant to start a business.

However I finally managed to insure my car for unlimited mileage and use as a demonstrator fully comp with agreed value of £22k. Also entitles me to drive anyones car upto value of £30K and all risks while potential customers are in the passenger seat. Public liability and build indemnity also included

all for the grand sum of £5500,

WELL CHUFFED

[Big Thirsty]

Anthony,

Well done and keep going with your new business venture ! If you try hard enough, you will get what you want in the end (although running a small biz does cause you to doubt from time to time )

Ian.

[stevee8]

Maybe I'm missing something here but stumping up £5500 against £1275 doesn't hit me between the eyes as a bargain.

[TINKA]

Originally Posted by stevee8

Maybe I'm missing something here but stumping up £5500 against £1275 doesn't hit me between the eyes as a bargain.

Try reading the rest of his post as regards to what it covers.

[stevee8]

If he really needs the cover then fine.
If not, then..................

[dave]

Originally Posted by stevee8

If he really needs the cover then fine.
If not, then..................

This has quite a bit to do with his new business venture.
( http://www.absolutehorsepower.co.uk )
In his/my line of work insurance is no picnic. Last year I paid £8,600. Not bad for someone without any claims.

How many people in this industry actually have proper insurance?

Public liability,
Buildings,
Plant and machinery,
Hand tools,
Stock (Parts and part built cars) £150K
Cars (customers and own (This does not include my Beema either))£100K
Road risk (Equivalent of fully comp).
Employers Liability. etc. etc.

And mine was without service indemnity as they said they could not even quote for that nowadays due to so many clumsy F*****s suing someone else for their own stupidity.

That's between £500 and £700 per car i have to charge just to cover insurances.

So. Yes £5500 is a bargain (And at such a tender age), just check what's covered and the values that are covered depending what you are likely to have in your workshop.

[dingocooke]

Id say he got a good deal considering the risks hes insuring, and good luck with the venture.

When you start to add up all the insurances you pay through the year, it gets frightening:
House, contents, 2 life policies, car insurance x 2, Cob insurance, bikes insurance, medical insurance, travel insurance.
Thats just for a normal(ish ) collection of domestic cover, I darent even think about the business insurance we pay, not to mention all the other companies insurance we are paying for in the purchase price of products and services.
Insurance is set to become most peoples biggest single expenditure??

Steve

[Chimeara]

Thanks Ian and to all those who have commented and given there support.

Thanks also to Dave, couldnt of explained the case better myself.

Havent got quite so much cover in terms of value but more than enough to cover my requirements during my start up stage.

If customers could now que in an orderly fashion it would be much appreciated. Only 96 to go and I to can celebrate my century.

Thanks again

Anthony

[dave]

I think I must be in the wrong business, How does this sound:-
Royal Dave Alliance, it has a kind of ring to it don't you think?

And it's sister companies website:-
www.freemoney4clumsyfeckers.com

for all your compensation claims

[Big Thirsty]

Originally Posted by dave

This has quite a bit to do with his new business venture.
( http://www.absolutehorsepower.co.uk )
In his/my line of work insurance is no picnic. Last year I paid £8,600. Not bad for someone without any claims.

How many people in this industry actually have proper insurance?

Public liability,
Buildings,
Plant and machinery,
Hand tools,
Stock (Parts and part built cars) £150K
Cars (customers and own (This does not include my Beema either))£100K
Road risk (Equivalent of fully comp).
Employers Liability. etc. etc.

And mine was without service indemnity as they said they could not even quote for that nowadays due to so many clumsy F*****s suing someone else for their own stupidity.

That's between £500 and £700 per car i have to charge just to cover insurances.

So. Yes £5500 is a bargain (And at such a tender age), just check what's covered and the values that are covered depending what you are likely to have in your workshop.

Dave,

With your (infinite) patience in explaining, no wonder you are already at build 100

Ian.