While most agricultural multi-risk Farmers insurance contracts include the majority of the essential guarantees, certain risks require membership in third-party insurance contracts. The point in our article.
Multi-risk Farmers insurance to protect your farm
The multi-risk insurance contracts dedicated to farmers cover both the buildings (housing included if it is designated in the contract) and their content (equipment and furniture), goods and livestock. Please note, crops are not systematically protected by multi-risk, so it is sometimes necessary to take out additional crop insurance.
The claims covered are essentially the same as in all professional property and casualty insurance contracts: water damage, fire, lightning, storm, theft, glass breakage, natural disasters, attacks, etc.
Note that it is possible to choose optional additional guarantees such as for example:
- Risk of acts of vandalism,
- Guarantee of renewable energy production devices (photovoltaic, wind turbines, etc.),
- Loss of the contents of refrigerated or controlled atmosphere chambers,
- Loss of rent,
- Compensation for new value of buildings or identical reconstruction,
- Reimbursement of expert fees in the event of a claim,
- Demolition and clearance costs…
Farmers who raise livestock can also purchase animal mortality insurance.
Vehicles are not covered. To protect them, it is therefore essential to take out auto insurance or tractor insurance.
The civil liability often included in the multi-risk agricultural insurance
The professional liability and private liability may be covered by the comprehensive insurance contract. Farmers are then insured in the event of damage caused to a third party by themselves but also by their employees (interns and volunteer helpers included), their children, their property (real estate and furniture), their livestock and their pets.
Certain guarantees can be provided as an option:
- Responsibility for products delivered (damage caused to consumers, such as food poisoning),
- Accidental pollution (excluding pollution linked to regular negligence),
- Accidental spread by the wind on neighbouring crops,
- Damage resulting from activities related to agriculture (camping, bed and breakfast, rural tourism, etc.)
Civil liability for a covered event (water damage, fire, explosion, etc.) is covered by comprehensive insurance.
Financial protection and legal protection: two essential options
The financial protection ensures the continuity of operation by compensating the loss on the possible claim and the costs necessary for the resumption of activity. As for legal protection, it covers farmers in the event of a dispute, whether professional or private. These two options can be included in the multi-risk agricultural insurance contract or taken out separately.
Taking out a multi-risk agricultural insurance contract: points to check
Before signing a multi-risk agricultural insurance contract, it is necessary to check:
- Risks covered,
- Optional guarantees,
- The adequacy between the amounts of guarantee and the risks incurred (attention, certain amounts are capped or limited),
- The number of deductibles.
To find out more: Practical guide to multi-risk agricultural insurance