If you’re looking at insurance options for your farm, a combined policy may be worth considering. With just one policy, rather than multiple, many farm owners find it’s easier to manage as all your information and policy guidance can be accessed in one place. Read on to discover why it could be the best option for all your needs and what is included with a combined farm insurance policy.
Farm property cover
With combined farming insurance, all farm equipment and vehicles are covered, along with any goods being transported in the farm vehicles. All farm machinery, tools and buildings are also covered, giving you peace of mind should anything be damaged.
Some individual policies may not cover all your property and you may have to take out separate ones to ensure all aspects are fully insured. If you choose to take out individual options, it’s worth making sure that goods in transit are covered, as well as the vehicles themselves.
As well as any farm buildings you own, the home in which you and your family live will also be covered, along with its contents. This means there’s no need to take out a separate home insurance policy, limiting the paperwork and hassle.
If you let any property out to tenants, this will be included in the combined policy, meaning you won’t need to worry about separate cover for that.
Public and product liability
As part of a combined farming insurance policy, third party damage and injury are both covered. This means your business is protected and the cost is minimised should there be harm caused by your business produce or employees.
This can be especially helpful should you regularly take goods to market or host a stall as any injuries or damage that may occur due to this will still be covered.
This is an important aspect of farm insurance and covers costs associated with being held responsible for a pollution event. This is generally not covered by a public or product liability policy, so if you choose individual cover, you’ll still need to take this out.
To protect the environment, precautions should be taken to avoid environmental damage by following appropriate health and safety guidelines. Liability cover also allows you to take responsibility should something go wrong and will cover clean up and emergency containment costs.
Choosing a combined farm insurance policy means all aspects of your farm are protected. It also means you’re not paying several chunks of excess across numerous policies as there will likely be one set fee. Taking out a combined policy for your farm will also make your admin work far easier in the long run, by allowing you to access and manage everything in one place and with one company.
Combined insurance can also help reduce your stress levels as you can be assured everything important is covered and you can be in the best position possible should any accidents or damage occur.