Farming Insurance Explained

Farming insurance can protect you against the unforeseen, which is why so many farmers are taking out the relevant policy. Although it isn't always cheap, it's still worth investing in a policy which will give you peace of mind. When investing in a farm insurance policy you have to know what sort of cover you're looking for. You want a low premium that offers a good level of insurance but also gives you some flexibility to choose the policy you need. Below we'll talk about some of the features that are available from a good farm insurance policy.

Cover comes in many shapes and sizes; there's no need to feel left out. Your needs should be catered for, ensuring that you find the perfect policy to meet your specific needs. Here are the 5 key features to look for when buying a cover agricultural policy:
This is the amount of excess you'll have to pay towards any claim you make. If you were to make a claim against your policy, the amount you pay out will determine the amount of excess. Some policies will payout as little as 50% of the excess, meaning it won't break the bank if you need to make a claim. On the other hand, others will have a higher excess, meaning that you could end up paying thousands of pounds if you had to make a claim. The higher the excess, the bigger the amount you'll have to fork out.

There are two types of agricultural cover - physical and liability cover. A physical cover policy will give you protection against physical damage to your farm property. This includes damage caused by animals, birds or insects. Some policies will also cover your vehicles, although these may be excluded. The liability cover will give protection against any legal claims you make for damage to another person's property or bodily injury that is caused on your premises.

The farm insurance  cover usually comes with a physical policy and a liability policy. If you have a large farm and need a lot of financial cover then an agricultural policy could be a good choice. It is worth finding a broker who specializes in this type of cover so that you get the right policy at the right price. You should always compare prices from several different insurance providers before deciding which to take out.

With the rising prices of meat, milk and wool it's more important than ever for farmers to have sufficient cover. However, the rising cost of cover policies means that it is increasingly expensive to take out. Farmers who want to save on their premiums can do so by raising their excess. The higher your excess the lower the premium you will pay. However, the cost of the cover itself can make a huge difference to the cost of your insurance. An alternative post for more info on the topic here: https://en.wikipedia.org/wiki/Insurance.