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What kind of Insurance for stock of sole trader?

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  • 30-11-2016 10:47am
    #1
    davidom2513
    Registered Users Posts: 477 ✭✭


    I am a sole trader.

    The goods I sell are stored in my home.

    The value will vary from 5k - 15k at any one time.

    What kind of insurance can I get to cover them?

    Will standard home contents insurance be ok?

    If not, how much would you be talking to cover them?
    Tagged:


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    #2
    Sue Pa Key Pa
    Closed Accounts Posts: 2,060 ✭✭✭Sue Pa Key Pa


    davidom2513 wrote: »
    I am a sole trader.

    The goods I sell are stored in my home.

    The value will vary from 5k - 15k at any one time.

    What kind of insurance can I get to cover them?

    Will standard home contents insurance be ok?

    If not, how much would you be talking to cover them?

    Your home insurance will not cover your stock or your business equipment. However, you must inform your insurer that the dwelling is now being used in part for business purposes as failure to do so could invalidate the current policy. Make sure you tell them if any customers ever come to your house to do business too

    As for covering the stock, it depends on the type of product it is and security where it is stored. You need to talk to an insurance broker who can offer Fire, Theft and Goods In Transit


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    #3
    davidom2513
    Registered Users Posts: 477 ✭✭davidom2513


    Sue Pa Key Pa wrote: »
    Your home insurance will not cover your stock or your business equipment. However, you must inform your insurer that the dwelling is now being used in part for business purposes as failure to do so could invalidate the current policy. Make sure you tell them if any customers ever come to your house to do business too

    As for covering the stock, it depends on the type of product it is and security where it is stored. You need to talk to an insurance broker who can offer Fire, Theft and Goods In Transit

    Thanks for the advice.

    It is a rented accommodation where the goods are currently stored. And I currently don't have any contents insurance.

    Customers don't do business in the house. Everything is online.

    I'll look into small business fire and theft

    Thanks


  • Options
    #4
    Sue Pa Key Pa
    Closed Accounts Posts: 2,060 ✭✭✭Sue Pa Key Pa


    davidom2513 wrote: »
    Thanks for the advice.

    It is a rented accommodation where the goods are currently stored. And I currently don't have any contents insurance.

    Customers don't do business in the house. Everything is online.

    I'll look into small business fire and theft

    Thanks

    If your landlord has the property insured and has declared it to his insurers as being occupied by a tenant for 'domestic purposes only', he may be in breach of his policy. Check your lease and tell your landlord


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