For one who relies on their farm for their income, whether by crop or animal husbandry or a combination of both, damage or loss to any of their animals, equipment and machinery would be a blow to their livelihood. It is therefore imperative for owners to take out insurance that would protect them and enable them to repair or replace items that are necessary to keep the running profitably.
Farm insurance would cover items like a home on the, other buildings, vehicles, livestock and crops in the field as well as harvest. Some policies will also offer public liability for the fencing around the. One can go further and also get cover for business interruption, goods in transit such as produce or livestock and even loss of cash. A owner can also get personal accident cover and sickness cover that would stand in if any injury was suffered in the course of carrying out duties.
A farm owner can also get cover for mobile and fixed machinery such as harvesters, tractors, milking machines, fences, hay, silage and grain, wool and other harvested products and feeds.
One factor that makes farm insurance important in Australia is the natural calamities that have occurred here and that have a tendency to reoccur. There have been disasters like floods, cyclones and bush fires that have wrecked havoc, destroying homes, businesses and lives in general. For a farm owner with no cover for his farm, that means being left with no home and no source of livelihood should disaster strike. Insurance for livestock which would ensure that productive milk cows or those that are sold for beef can be replaced should they fall ill, destroyed in a fire or are stolen rather than the farm's profitability going down.
Other factors covered in some farm insurance policies are lighting and explosions, malicious damage, damage from falling trees, aircraft or vehicles and breakage of glass in this case meaning glass that is part of the structure of a farm building. One can also take insurance for accidental damage or loss to a farm and is contents subject to terms and exclusions laid out in a policy.It is also advisable for a farm owner to have farm liability cover which would pay compensation in case any one on the farm suffered personal injury or property was damaged when someone was on the farm.
Other options a farm owner has the option to take cover for are cover for working dogs such as those used to guard the farm, farm animals and perhaps round of herds, frozen semen and embryos which were in the farm for use in siring productive farm animals and tax audit.
Farm insurance would cover items like a home on the, other buildings, vehicles, livestock and crops in the field as well as harvest. Some policies will also offer public liability for the fencing around the. One can go further and also get cover for business interruption, goods in transit such as produce or livestock and even loss of cash. A owner can also get personal accident cover and sickness cover that would stand in if any injury was suffered in the course of carrying out duties.
A farm owner can also get cover for mobile and fixed machinery such as harvesters, tractors, milking machines, fences, hay, silage and grain, wool and other harvested products and feeds.
One factor that makes farm insurance important in Australia is the natural calamities that have occurred here and that have a tendency to reoccur. There have been disasters like floods, cyclones and bush fires that have wrecked havoc, destroying homes, businesses and lives in general. For a farm owner with no cover for his farm, that means being left with no home and no source of livelihood should disaster strike. Insurance for livestock which would ensure that productive milk cows or those that are sold for beef can be replaced should they fall ill, destroyed in a fire or are stolen rather than the farm's profitability going down.
Other factors covered in some farm insurance policies are lighting and explosions, malicious damage, damage from falling trees, aircraft or vehicles and breakage of glass in this case meaning glass that is part of the structure of a farm building. One can also take insurance for accidental damage or loss to a farm and is contents subject to terms and exclusions laid out in a policy.It is also advisable for a farm owner to have farm liability cover which would pay compensation in case any one on the farm suffered personal injury or property was damaged when someone was on the farm.
Other options a farm owner has the option to take cover for are cover for working dogs such as those used to guard the farm, farm animals and perhaps round of herds, frozen semen and embryos which were in the farm for use in siring productive farm animals and tax audit.
