1 Decide what kind of cover you need.
Of course you want to ensure everything on your farm is protected, from your livestock to your vehicles and your home. While some policies may have too much or not enough cover for your needs, some companies offer a policy that’s the perfect fit. For example, AXA Smart Farm Insurance offers two simple choices based on the size of your farm. Make sure you customise your policy as much as you can so you’re not paying for cover you don’t need.
2 Look at the level of public liability offered.
This is probably one of the most important elements of cover you need to consider. The best public liability covers your legal responsibility for accidental injury to anyone, or loss and damage to material property. AXA offers a standard cover limit of €3 million, which is the highest level of standard cover on the market.
3 Look at the level of employers liability covered.
If you have paid workers or family members who help out on your farm from time-to-time, you’ll want to be sure you’re protected if anything should happen. Having Employers Liability covers you for the costs and expenses of claimants you’re legally liable for and other costs incurred. AXA also offers cover for any voluntary helpers at a reduced rate, and there’s no stipulation around having paid staff.
4 Consider cover for your farm vehicles.
Protection for the vehicles you use to get around your farm isn’t a given with all insurance policies. If you have a tractor, trailer or any other agriculture vehicle that you depend on, consider the type of cover you need for it, like third party, fire and theft, or comprehensive cover.
5 Protect your livestock.
Consider what level of protection you need for your livestock. There are lots of types of things you can do to protect them, which will protect you should something go wrong. Consider fatal injury protection, which protects in case of fire, lightning or explosion, theft of livestock, and sheep worrying.
6 Protect yourself against theft.
Unfortunately, theft happens. Your equipment is not only your livelihood, but it’s expensive to replace. Make sure your policy gives you all-risks cover for your agriculture equipment so in the case of theft, fire or accidental damage, you won’t be left out-of-pocket. In addition, you can protect yourself against theft of diesel and theft of tools in the case of a robbery.
7 Protect your health.
No one wants to think about it, but the farm wouldn’t function the same without you. That’s why it’s important to make sure you’re covered for personal accident and hospitalisation cover in case of serious injury or death.
8 Protect the roof over your head.
While you’ll want to protect your livelihood by insuring your livestock, equipment and vehicles, consider a policy that protects the home you live in, too. A policy that protects your farm-dwelling house will not only insure the building, but also the home contents and business contents that are integral to keep you going.
9 Make it easy on yourself.
When you’re looking for a great insurance policy, you want to make sure you’re getting the most straight-forward cover at the best price. For example, AXA won’t ask you to break down between hay and straw, or between agricultural products and implements and utensils; you just have to provide a single figure to cover all the contents in your outbuildings. When you take out a policy with an insurer that just wants to help you get on with your work, you get more time to do the things you care about.
10 Go with a company you trust.
When it comes to finding the right insurance policy for your needs, you’ll want to make sure you’re with the right company to protect your most important property and possessions. This is where the help of a trusted company can help.
AXA Smart Farm Insurance have a dedicated farm specialist team, based in Athlone, who are available to help you and answer any questions you have. You can reach them on 1 890 247 365 or axa.ie/farm.