What is included on an agriculture insurance policy?
As already stated, there are a whole range of covers that can be included on a policy. And the indemnity limits (the maximum amount that the policy will pay out in the event of a valid claim) can also vary hugely depending on the size and scope of your business.
Typically, you will want to consider:
Farm / smallholding building and contents cover. Rather like your home insurance policy, this provides protection for your business premises and contents from theft, loss of damage in a range of circumstances – for example a fire, flood or break in.
Agricultural vehicle insurance – It’s likely that you use a range of vehicles, including specialist vehicles in the course of your work. From quad bikes to tractors as well as 4×4’s, cover can be provided for all of your vehicles on a single policy.
Crop and livestock cover – protecting you from the financial losses caused by loss or damage to crops and livestock
Liability Covers – where you have farm workers, even casual or part time, you are required by UK law to take out Employers Liability insurance in the UK. Similarly, you should consider Public Liability Insurance which protects you in the event that a member of the public claims they have suffered a loss or injury as a consequence of your farm work.
Business diversification cover
It’s not uncommon for farms to diversify these days, or set aside part of the land for different activities. It could be that you offer quad bike driving experiences, or use some woodland for a paintballing business. Cover can be arranged for your diversification projects