The start of a new year is a great opportunity to take stock and put in place plans for the 12 months ahead. In just a couple of months, we’ll see the welcome return of lambs gambolling about in fields and flowers, trees and hedgerows bursting back to life as the dark, winter days make way for Spring.
In the meantime, January provides a chance to review what went well (and not so well) on your farm or in your commercial business over the past year and make plans for the future.
Whatever your plans entail, it’s important to consider how they could affect your current insurance policy. It’s essential that your insurance cover is fit for purpose so you’re fully protected against whatever the next 12 months may bring.
My job is to work with clients to ensure they have the right cover in place at the right price. That’s why we build long-term relationships with our clients and act as a trusted advisor to ensure their insurance policy covers the individual needs of their business.
It’s only by getting to know a client and understanding how they work and how their business operates that you can provide them with the right protections.
And if the worst happens and you need to make a claim, then there’s the reassuring presence of our in-house claims team who are on hand to handle it for you as quickly and efficiently as possible. Our aim is to ensure that you suffer minimal disruption and can get on with the day-to-day business of running your business.
If you are planning a new venture or investment in your business in 2025, then it’s important to consider the implications it could have on your insurance. Are you thinking about a diversification project on your farm such as opening a campsite, investing in a holiday let, or selling produce at a farmers’ market? If so, you need to think about the impact on your insurance. A campsite brings more people on to your property which leads to public liability considerations, as well as requiring employers’ liability to protect both your team and your business.
Similarly, if you are planning to invest in a new piece of equipment or erect a new shed or building, then it needs to be taken into account going forward. It’s really important that your insurance is an accurate reflection of your property and assets, so if you have bought more livestock, a new vehicle or changed the use of a building, it needs to be on your policy. Your insurance broker will be able to advise you on the best cover for you and ensure you have the necessary protections in place.
Underinsurance, where buildings may cost significantly more to rebuild than what they are actually insured for, has become more common in recent years, largely due to the rising cost of building materials. Ensuring you have an up-to-date accurate valuation of your property and assets can help avoid this.
The winter months provide an opportunity to tackle any essential maintenance jobs which need done on your property ahead of the busy Spring season. Sorting out clogged up gutters, broken fences and leaking roofs now can help prevent bigger problems down the line. Poorly maintained buildings could potentially be an issue if you ever need to make a claim so it’s important to minimise any potential risks.