Preparing for the Year Ahead
Posted on: 7th April 2022
Our Account Executive, Natalie Carr, outlines the importance of ensuring that your farm has the right insurance cover in place for the year ahead
"When did you last check that your insurance policy is still fit for purpose?
The arrival of Spring is one of the busiest times on farms, large or small, but it’s also an opportunity to take stock and prepare for the new season ahead and ensure that you are fully protected against any potential losses. It is worth taking time to assess your business and your plans for the future.
- Are you planning to invest in new equipment or stock which could affect your cover?
- Are you thinking about a diversification project, such as opening a campsite or selling produce at a farmers’ market?
If you’re planning on taking your business in a different direction then you need to consider the impact it could have on your insurance. Businesses which are not fully covered face the prospect of being underinsured, if the worst were to happen.
With the Covid-19 pandemic leading to more people taking staycations and exploring the countryside close to home, it’s essential that owners and occupiers of land had adequate public liability insurance.
If you have rights of way on your property, then it is your responsibility to ensure they are always accessible and that any gates and stiles are maintained. It’s a good idea to make sure any damage which may have occurred over the winter is repaired so footpaths and bridleways are in a good condition for the public to access.
It’s also worth reporting any issues with buildings on the property, such as any structural problems which may have emerged during the winter months. Poorly maintained buildings could potentially be an issue if you need to make a claim, so it’s worth checking their condition. Buildings must be insured for their full value so getting a land agent or surveyor to check their value is advisable.
Carrying out an electrical check and obtaining an Electrical Installation Condition Report will also get you preferential rates with insurers. It’s worth doing this every five years."
If you would like some insurance advice, why not give us a call on 01228 406290 and we will advise you on the best cover for your business and ensure you have the necessary protections in place, giving you complete peace of mind.