Home Insurance & Selling on eBay

YoJoJo

Can anyone help? My home insurance is up for renewal in a couple of weeks and after getting some quotes over the internet, I've realised I probably ought to let them know I am running an eBay business from home (albeit a very small one). I can't select 'eBay from home' on any insurance websites and i think they would want me to ring for a quotation. Stock is held in my home but I don't have buyers to the door (unless it is a cash on collection item from my private seller account and that's just personal stuff being sold anyway).

Does anyone else have any experience with anything similar, working from home? Who do you use? Who is happy to cover this? I'm concerned that should we need to make a buildings or contents or both claim in the future. the insurance company would use the fact that I havent declared that i'm working from home as a business to invalidate any claim made.

Thanks in advance for any advise.

mrcol1000

I am insured with LV who allow you to have a home office with no visitors.

YoJoJo

mrcol1000 wrote: »

I am insured with LV who allow you to have a home office with no visitors.

Thank you. But is that just for paperwork or do you hold stock/business items in your home (if you don't mind me asking)?

mrcol1000

YoJoJo wrote: »

Thank you. But is that just for paperwork or do you hold stock/business items in your home (if you don't mind me asking)?

We hold stock too. Not sure if this is covered but our stock is low value so it is unlikely we would claim for this. We just wanted to make sure the fact we ran a business from home would not invalidate our insurance. Our courier suggested to us Endsleigh when we first started up. Apparently they cover stock and the business but we never looked into this.

Rhymsta

I am over 50 and although a top rated seller dealing in toys I don't hold any more stock than a family with 3 kids might expect to have in the house.
Anyway, I was using RIAS and there was no category that described me - retired and selling toys on eBay as a part time paying hobby. So they put me down as 'Toy Trader'. Next thing I knew they didn't want to know anymore.
I ended up getting cover from John Lewis and at a cheaper price.
I found it amazing that insurance companies don't seem to have a category called eBay seller - they made me feel as if it was something really unusual.

Also, tell them that you might let people collect in person and the alarm bells really start ringing,

YoJoJo

Thank you, that's helpful.

MrCol1000 - my concern is that even if i didn't make a claim which included my stock (mine is also very low value), that ANY buildings or contents claim would be rejected by the insurance company, simply because i hadn't also insured for the business side of things.

Rhymsta - its amazing how every company i have tried to get an online quote from simply does not have a category for 'eBay trader' or the like. I don't let people collect in person from my business ebay account but I do from my personal selling account when I want to sell furniture or bikes, etc, that the children have grown out of. I'm going on John Lewis' website completing a quote form but waiting for the Live Chat to respond to me as to what I should complete as my occupation. Hubby is a teacher so luckily that one is easy!

I've had a quick skim through their policy booklet (online) and under the 'What You Are Covered For Section' is the following:


'4 Business equipment
We will pay for loss of or damage to business equipment up to £20,000 and the maximum we will pay for supplies and stock used in connection with your business is £10,000. We will not pay for any subsequent loss of profits or turnover resulting from any such loss or damage.

I'm not sure if this means I would be covered to actually run a business from my home address OR if it means any business equipment/stock/supplies is simply covered whilst in my home. If you know what I mean?

If anyone else has any advice or insurance company recommendations I will continue to be very appreciative. Thanks again :-)

charlies_mum

Rhymsta wrote: »

I am over 50 and although a top rated seller dealing in toys I don't hold any more stock than a family with 3 kids might expect to have in the house.
Anyway, I was using RIAS and there was no category that described me - retired and selling toys on eBay as a part time paying hobby. So they put me down as 'Toy Trader'. Next thing I knew they didn't want to know anymore.
I ended up getting cover from John Lewis and at a cheaper price.
I found it amazing that insurance companies don't seem to have a category called eBay seller - they made me feel as if it was something really unusual.

Also, tell them that you might let people collect in person and the alarm bells really start ringing,

Also, never ever say you deal in Antiques and Collectables. They will drop you like a hot potato

martindow

I have home business insurance from AXA via a broker.

YoJoJo

Just a quick update. I've shopped around a bit and finally managed to get a good price for home insurance with working-from-home cover included.

A few insurers including some well-known names like Churchill and Direct Line will provide normal Home Contents and Buildings cover and still let me sell from home. My stock and business equipment is not covered against loss but I'm happy with this as its equates to less than £2k at any given time. Importantly though, my home is now covered and should I need to make a claim for damage, loss, etc for the personal side of things, I can, and it won't be invalidated now.

I have discovered that there are some insurers (and some of the bigger name insurers) who will provide specialist working-from-home insurance that includes stock but also include all sorts of things that someone like me just doesn't need - such as employers liability, professional indemnity insurance and so on. Those sorts of cover plus buildings and contents really starts to push the price up.

Sorry for the long-winded post but this might help others in a similar position to mine in the future.

Just remember, you MUST declare you're working from home to your home insurer. Do not assume that because you never intend to ever claim back on the business side of things, that you're covered on the personal side. STATE it and make sure your paper policy has it recorded too.