Contents insurance

[Kerwin]

I live in a rented room in a shared house. Different tenants occupy all the other rooms. I obviously have a lock on my door, which I do use at all times.

The problem is that it is used for business and personal use, and some of the contents (such as my laptop) are also used for business and personal use. Does anyone know what I should be looking for when searching for contents insurance quotes?

 

[KAC]

Ask @Frank the Insurance guy

 

[Frank the Insurance guy]

Are you a sole trader or do you have a limited company?

If sole trader you can insure all your contents and business equipment - just need to make sure your contents policy includes use of laptops for business use.

If you have a limited company, is the laptop owned by the company (Who paid for it and how was it accounted for?) - If company owned, you may need a policy for your own personal property and a second company policy for the business property.

 

[Kerwin]

Are you a sole trader or do you have a limited company?

If sole trader you can insure all your contents and business equipment - just need to make sure your contents policy includes use of laptops for business use.

If you have a limited company, is the laptop owned by the company (Who paid for it and how was it accounted for?) - If company owned, you may need a policy for your own personal property and a second company policy for the business property.

I'm a limited company but the laptop was purchased years before the company was set up. I will be buying a desktop computer with company funds though in the not too distant future so I guess I'll need two policies then. Honestly, I'm not too bothered about my personal stuff (apart from the laptop) it is the company computer I am worried about as that would be a big value item.

Thank you for the information.

 

[Frank the Insurance guy]

I'm a limited company but the laptop was purchased years before the company was set up. I will be buying a desktop computer with company funds though in the not too distant future so I guess I'll need two policies then. Honestly, I'm not too bothered about my personal stuff (apart from the laptop) it is the company computer I am worried about as that would be a big value item.

Thank you for the information.

That makes its simple then - you need a Tradesman/Professional Insurance policy, which shouldn't be too expensive. It will include Public Liability Insurance (your liability for Loss or damage you cause to other people or their property), as well as your business equipment - I know you haven't mentioned Public Liability cover, but these types of policy usually lead with Public Liability as a core cover, with the business equipment as an optional extension!

 

[Kerwin]

That makes its simple then - you need a Tradesman/Professional Insurance policy, which shouldn't be too expensive. It will include Public Liability Insurance (your liability for Loss or damage you cause to other people or their property), as well as your business equipment - I know you haven't mentioned Public Liability cover, but these types of policy usually lead with Public Liability as a core cover, with the business equipment as an optional extension!

Awesome. Thank you very much for the help.

 

[Chris Hanson]

Just asking, is your room key a slave key to your landlords master key?
It is general practice in HMO's to use suited locks.

 

[DontAsk]

Does your lease allow you to run a business from the property? That may affect the insurance, or not.