Farmers are unique and so is the type of insurance needed. With responsibility for the livelihood of others along with livestock, crops, equipment, and more, farming can become costly with unexpected liabilities.
From running a commercial cattle farm on hundreds of acres to a 5-acre hobby farm, the level of Farm Insurance you need to protect your business varies enormously.
The experienced team at SB Protect understand what’s important and can guide you through the process, but first let’s consider the options so you know the types of cover available.
What should you consider when purchasing farm insurance?
When you are looking into purchasing farm insurance, there are a few things you should consider. First and foremost, the type of farm you are insuring. Is it a large-scale commercial farm or is it a hobby farm?
What to consider:
• The size of the farm
• Type of farm (livestock, crops, dairy, mixed)
• Type of livestock (cattle, sheep, goats)
• Number of animals that are being raised
• Type of crops being grown (wheat, sugarcane, fruits & vegetables, mixed)
• Number of crops being grown
You will also need to consider the type of risk the farm has. For example, if you are raising livestock, the risk of theft along with injury or illness. If they are raised for meat, the risk of disease.
When it comes to agriculture which pesticides and herbicides are used. Have you considered the weather which can be unpredictable and destroy crops? Then there is disease and pests.
Once you have established the type and size of farm, you need to think about the buildings and machinery. Put a list together of all farm structures no matter how large or small (including out houses, barns etc.). Then add the different types of machinery you have on-site, including vehicles.
Finally, accidents happen, you will need to cover against claims for property damage and personal injury.
What types of insurance are available?
When choosing the right level of cover for your Farm Insurance it is important to talk to a specialist who can advise you through the process. The experienced Brokers at SB Protect will guide you through the farm insurance checklist finding the right level of cover at the best price.
Farm Insurance Checklist:
• Buildings & Contents – for your home
• Farm Property – including hay sheds, workshops, fencing, garages
• Motor Vehicles – farm and private vehicles
• Machinery
• Livestock
• Crops
• Theft
• Farm and Personal Liability
• Loss of Income
Don’t forget to include pets such as working dogs and horses and any all-terrain vehicles used to speed up travel around the farm.
Conclusion
We understand that farming is unique and therefore so is the type of insurance required.
The purpose of Farm Insurance is to protect your finances, liability and costs incurred when things go wrong. Don’t leave it to chance, speak to one of our friendly team members and make sure you are covered.
Learn More
Get the right policy for your business through SB Protect Insurance Brokers. Visit sbprotect.com.au or call (07) 5572 0912.
