Do your sums insured reflect the recent increase in lamb values?
Producers selling lambs and ewes in the run up to Brexit amid fears of decreasing values, wet weather making finishing lambs a challenge and limited imports have all contributed to the value of lamb being some of the highest they have ever been.
Therefore, we recommend that you discuss your sums insured with your insurance broker. Increasing the sums insured from £50,000 to £70,000 will only result in around a £25 increase in your insurance premiums but will ensure that you are not left out of pocket if a claim needs to be made.
Contact your insurance broker to discuss your farming business’ specific requirements.