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Insurance not paying out
monsoon67
Posts: 9 Forumite
My husband had £2.4K worth of De Walt tools stolen from a locked shed in the garden 3 weeks ago.
He put in a claim on the home insurance which covers outbuildings - but the insurance are saying they won't pay out because all the invoices for the tools are in my husband's business name.
What can we do?
(Since then we've had CCTV & Nest installed as well as the most secure locks possible on the shed) Thanks.
He put in a claim on the home insurance which covers outbuildings - but the insurance are saying they won't pay out because all the invoices for the tools are in my husband's business name.
What can we do?
(Since then we've had CCTV & Nest installed as well as the most secure locks possible on the shed) Thanks.
0
Comments
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Domestic insurance usually excludes business assets, what does the policy say.
When I had business tools they were excluded and I needed specific business insurance to cover them.
Were they actually business tools or domestic tools that he'd put through his business books?
I cannot see a way of getting out of either uncovered business tools or potential tax fraud for putting non business items through the books. Double check your policy but I would be surprised if they were covered by your home insurance.0 -
Sorry to hear that but your normal household insurance will usually only cover personal items.
Anything that belonged to a business you needed to have a separate insurance policy for.0 -
He put in a claim on the home insurance which covers outbuildings - but the insurance are saying they won't pay out because all the invoices for the tools are in my husband's business name.
Household insurance normally only covers household items. Not commercial items. Not unless you have an insurer like NFU or a homeworker policy.0 -
I would have thought the simplest solution would be to claim on his business insurance, this is what it is for.My husband had £2.4K worth of De Walt tools stolen from a locked shed in the garden 3 weeks ago.
He put in a claim on the home insurance which covers outbuildings - but the insurance are saying they won't pay out because all the invoices for the tools are in my husband's business name.
What can we do?
(Since then we've had CCTV & Nest installed as well as the most secure locks possible on the shed) Thanks."We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein0 -
Is his business a ltd company or is he a sole trader? Not sure if that would make a difference or not.0
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