I’m looking to change my farm insurance. How do I chose the right insurance provider for my farming business?
Ask in any Facebook group or on any forum for recommendations for a farm insurer and you are sure to get positive and negative feedback about all of the main farm insurers.
It’s easy to be swayed by discounts and low premiums but cutting costs may come back to bite you if you need to make a claim.
The single most important point when choosing an insurer for your farm is that the person arranging your insurance fully understands your business and farm insurance. If the cover is arranged correctly in the first place, it should pay out when there is a claim. Correctly arranged cover should also provide you with the best cover for that price, as you will not be paying for cover that you do not need.
You also need to consider the kind of experience you expect if you do have to make a claim. A broker or agent arranging your insurance should be willing to stand up and be counted when that claim comes along and not just pass it along to a call centre. They are willing to take your money and so should have an obligation to sort the claim out too.
A good broker should also take the time to outline to you why they have chosen particular cover for you, provide recommendations and to fully explain the relevant policy terms and conditions to you (you will lose the will to live if you try to read them all yourself). Transparency and communication give you the confidence that your business has adequate cover at the most competitive price
