If you have a workshop and are involved in manufacturing or engineering, you need business insurance to protect your buildings, equipment, stock, customers and any employees.
It is important to make sure that you have the right cover at a reasonable premium. There are insurance policies available for a wide range of trades including precision engineering, woodworking and new technologies, such as 3D printing.
Compare Workshop Insurance Quotes
The best way to do this is to speak to a local independent business insurance broker. Their job is to learn about your business and the issues you need to deal with and help you decide what insurance cover you need. They will usually offer a free, no obligation quotation.
Look for an insurance broker that specialises in commercial insurance and offers a personal service. They will usually get you a number of workshop insurance quotes from a range of reputable and financially sound insurance companies. They will then compare these for you and recommend the best policy, taking into account your requirements and the price.
What is workshop insurance?
The types of insurance you might consider for your workshop include:
- Buildings Insurance
- Business Interruption Insurance
- Public Liability Insurance
- Employers Liability Insurance
- Products Liability Insurance
- Stock Insurance
- Machinery & Equipment Insurance
- Hired equipment insurance
- Money Insurance
- All Risks Insurance for laptops and other portable equipment away from the premises
- Goods In Transit Insurance
- Personal Accident Insurance
- Engineering Insurance & Inspection cover (for forklifts, air receivers etc)
- Commercial Legal Expenses Insurance
- Directors and Officers Insurance
- Professional Indemnity Insurance (if you offer design as a service)
How much is workshop insurance?
The cost of workshop insurance depends on a number of factors, including the location of your workshop, its construction, year of build and what trade you are using it for. It also depends on the value of the building, if you need cover for this, and the value of your machinery, stock and other equipment inside.
The cost of public, products and employers liability is usually rated on estimated annual wages and turnover.
Workshop Insurance and your legal obligations
If you employ anyone you need employers liability insurance. This is a legal requirement.
Other types of insurance may not be legally required but are essential to protect your business. An independent business insurance broker will be able to advise you and help you decide what you need.
Insurance for Imports And Exports
If you are involved with imports or exports, you will need appropriate products liability cover. Insurers may request a split in the turnover between the UK, Europe, Asia and USA and Canada.
You may also need specialist marine transit cover for goods whilst in transit or stored in warehouses.
How do I get a workshop insurance quote
Here at Breathe we have many years of experience in arranging workshop insurance for many different types of manufacturing and engineering companies. We offer a personal service, help you decide what cover you need and compare quotes for you to make sure you have the right cover in place at the most competitive premium.