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This
is an Insurance article by an independent author and jml
Insurance takes no responsibility for its accuracy or content The
Pitfalls of Farmers Insurance
By Terry
Ross Farmers
insurance is more specialised than some other insurance policies in that not only
does farmers insurance cover every aspect of the business but it can also cover
the private dwelling as well. There
are many possible ‘bolt ons’ to farm insurance which can cover such things as
farm buildings, the farm house (basically householders insurance), livestock,
equipment, business interruption and personal possessions. It
is becoming increasingly apparent that many farmers have an inadequate level of
farmers insurance partly due to the inability to support the cost of the insurance
premiums but also as a result of the continually changing needs of farmers insurance
which is becoming ever more complex. One
of the main areas that farmers have proved exposed in recent years is the lack
of farmers insurance relating to environmental issues surrounding the use of chemicals
on the farm. Many farmer insurance policies physically exclude any damage due
to chemical leakage or damage due to the use of chemicals around the farm despite
the high costs that can be associated with chemical disasters which could leave
many farmers in financial ruin. What is worse is that most farmers are blissfully
unaware that they do not have chemical insurance cover! For
those farmers that do not have the cost of chemical cleanups and other costs associated
with chemical disasters included in their farmers insurance could find themselves
in a no win situation in any claim that is anyway related to chemicals. It
is vitally important that all farmers actually understand exactly what is and
is not included in their farmers insurance policy and take steps towards obtaining
cover for those areas of their business which perhaps remain unintentionally without
insurance cover. Another
area in which some farmers leave themselves exposed is when they allow but are
not insured for shooting or other forms of recreational pursuits held on their
land. Farmers should seek legal advice to ensure that they are covered for any
use of their land either through farmers insurance or by means of legal disclaimers. In
addition, farmers need to be consciously aware of the ever changing needs relating
to their farmers insurance making sure any changes in working practices or use
of the farm are fully covered through there farmers insurance policy and that,
as a matter of habit, they continuously remove unsafe objects or fix anything
that might pose as a danger to farm workers or the general public as they are
out and about on the farm. For
more about farmers insurance
visit 24-7-insurance.com Article
Source: http://EzineArticles.com/?expert=Terry_Ross The
information supplied on this page is by a third party and jml Property Services
do not take any responsibility to its accuracy ©jmlpropertyservices 11/06
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