Warehouse/ Stock Insurance

[crelding]

We are an online retailing company, and we're about to move into an industrial unit (1600sq ft).I am trying to find insurance for the stock.

We'd need:
~100k stock insured
~ 1k equipment insured

Surprisingly, it has been hard to find a quote for this situation. We have managed to get one quote which is £1300 inc pub liability. Just wanted to see if people felt this was the right ball park figure? With only one quote, its hard to gauge.

 

[ImranR]

Hi...

What you describe is a relatively normal insurance requirement. I would find a good insurance broker preferably ones that have direct relationships with Underwriters at Insurers.. they will be able to source a decent packaged policy that covers everything you need and is better value than the one you already have.

Depending on the type of risk, some brokers also provide risk mitigation advice also .

 

[Ali McGowan]

We struggled to get insurance for a similar situation.
I sell online, but the stock is so varied it cant be put into one category.
I have market traders insurance with The Market Traders Fed as we also sell out on carboots and markets (its good for shifting the slow moving stock)
They put me in touch with my current insurance company, I had to haggle to get 50k of stock, but it could be a starting point for you.
Next year I will probably be increasing further and so calling the Market Trader Fed again as they have the contacts.

 

[phileas]

I have "shop" insurance which covers stock, employers liability etc. We have £200k stock insured and 10 staff and pay slightly less than what you've quoted. We've been using hensure as a broker for many years.