Farm Insurance and how to choose the right policy
An interview for “That’s Farming” with Mervyn Lloyd, managing director of Lloyds Insurances.
The activities, work practices and lifestyles of farmers have changed considerably, over the past 40 years, and keeping pace with these changes means a shift in their insurance needs.
This has been the primary focus of Lloyds Insurances since its inception in 1982. Now considered one of the primary players in the liability insurance sector in Ireland, Lloyds has a dedicated team of professionals who aim to help the farmer find his/her way through the often-confusing range of cover and premiums on offer.
“We believe that farming is not just a business but an important rural lifestyle which is worth preserving and protecting.” explains Mervyn.
“As brokers, Lloyds Insurances will compare the market on your behalf to get you a competitive quote which is uniquely tailored to your individual needs.”
“Protection is key, as is minimising your risk exposure to unforeseen events. We recognize the challenges facing farmers today and because of our rural focus, we are ideally based to provide solutions to your insurance needs.”
“We understand the need to continue to operate effectively when something unexpected happens.” he added.
Our policies include a range of covers including:
- Public liability;
- Employers liability;
- Farm dwelling;
- Tractors and machinery;
- All risks for equipment etc.
The need for adequate cover
“With the growing interest in all things rural, farm walks etc, it is very important that the farmer is adequately covered in the event that someone entering his or her lands has an accident or sustains an injury.”
“Once adequately covered, this should not lead to financial loss for any farmer.”
By the same token, farmers need protection from claims from employees – be they full-time, part-time, or casual.
The need for adequate cover must also be emphasized and in this respect, it is vitally important to avoid underinsurance, Mervyn adds.
“Very often your farm is not just your business, but also your home. Bear in mind that your home, outbuildings, farm buildings etc. should be properly covered for their replacement costs, in the unfortunate event of a total loss.”
“Again, this is where Lloyds Insurances can help, our years of experience means we are uniquely placed to advise on this potentially confusing area.”
“We will provide you with the information you need so that you can make a proper assessment of the value of your dwelling house, farm machinery or outbuildings etc. relevant to your circumstances.”
“We can help you decide what level of cover you need to protect your property. From damage caused by fire, flood, storm, theft, and more.”
“We can also help you assess the level of cover you require for contents including personal items. Here too it is very important that you are not in a situation where you are underinsured.”
A comprehensive farm insurance policy provided by Lloyds Insurances will also cover your livestock. The range of benefits include protection for your animals in case of fire, lightning, explosion, storm, electrocution, collapse of slats and livestock on-foot and in-transit.
If you are a pedigree breeder, cover can be provided for death or infertility.
“Most farmers will recognize the convenience of having vehicles, especially jeeps included in a single package giving a single renewal date.”
The long-established insurance specialist can offer third-party, fire and theft and comprehensive cover and can include cover for the jeep at a much-reduced price when it is included with the farm policy.
“Our comprehensive policies can also include loss of basic income, loss of milk, forestry cover, theft of tools, theft of diesel and all risks cover for specialist equipment.”
“One of the reasons you should consider choosing Lloyds Insurances for your farm policy, is that as an insurance broker we give you choice.”
“We examine all the options to provide you with a variety of cover and premiums to choose from.”
“We are regulated by the Central Bank of Ireland, thereby ensuring you can depend on our high-level of experience and professionalism. We work in the best interests of Irish farmers.” Lloyd concluded.
Do you cover poultry
Unfortunately we do not cover poultry