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industrial building for private use Insurance


winchman
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Just wondering been looking at a  building, its currently with planning as industrial use we are looking at using it as a private workshop for repairs / storage of the fleet, so any issues? How do you insure it? Just need the building and tools, vehicles will be insured separately

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Took me ages to find insurance for my rented unit. Plenty of options if I was using it for commercial purposes, but as soon as I mentioned it was for private use only, insurers didn't want to know.

In the end, I found https://www.insuranceprotector.co.uk/ and have been with them for several years now, though I've never had to make a claim. The policy they sorted out for me is with Commercial Express, and they were happy to amend some of the clauses, like allowing me to weld on my own without a second person as a fire watcher.

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We own an industrial unit for our vehicles and its insured with Coversure, with an allowance for tools, equipment etc. Just make sure you get one that comes in under the floor area limit at which business rates kick in, because that gets expensive.

Good luck, Richard

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16 hours ago, Scammell4199 said:

We own an industrial unit for our vehicles and its insured with Coversure, with an allowance for tools, equipment etc. Just make sure you get one that comes in under the floor area limit at which business rates kick in, because that gets expensive.

Good luck, Richard

Surely if it's "industrial use" it will attract business rates anyway, or does that depend on the opinion of individual councils?

Andy

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Apologies i previously said it was done on floor area, its actually done on the rateable value, which your local council will have. They estimate this for all buildings in their area every few years, and then the rates you pay is a percentage of that. If your rateable value is below a certain threshold, i think its £15k you don't pay anything. There are also various reliefs for different reasons. Its all on the gov website.

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  • 2 weeks later...
13 hours ago, winchman said:

What do you tell the council and how do you describe it to the insurance?

I think I described my unit as a non-commercial hobby workshop, or something similar.

The magic words to mention to the Council are Small Business Rates Relief – https://www.gov.uk/apply-for-business-rate-relief/small-business-rate-relief. There's a link to apply for it on there.

It doesn't matter that you're not a business, just that the building has a business rateable value. Assuming that you've just got the one unit and its rateable value is less than £15k, then you get 100% relief, paying nothing.

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Small business rate relief banding changed to 100% at £15k a few years back. Our unit has a rateable value of £9k and we had to pay rates each year, we dont now and unless the banding changes again will probably never have to again.

We were always told its building not what goes on in there.

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i think ours is with coversure. I think they struggled to comprehend the concept of an industrial premises being used solely for a hobby, so we just said its for restoration of army vehicles so they put that down as the business.

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1 minute ago, Scammell4199 said:

i think ours is with coversure. I think they struggled to comprehend the concept of an industrial premises being used solely for a hobby, so we just said its for restoration of army vehicles so they put that down as the business.

But thats a business then when ours isnt? I will give them a go

 

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8 hours ago, Scammell4199 said:

i think ours is with coversure. I think they struggled to comprehend the concept of an industrial premises being used solely for a hobby, so we just said its for restoration of army vehicles so they put that down as the business.

Cornwall council planning had the same problem in that they were convinced a building had to be industrial even if used solely for a hobby, which is why they refused planning permission (twice and appeal!)  😞

Andy

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