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How Can I Protect My Farm?
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Protecting your Farm with appropriate Farm insurance is important, given the changing nature of agriculture in Australia. Farms provide the food that feeds Australians and raw materials that power our economy. Even with the best risk mitigation practices in place, on farms, accidents and loss can still happen. Even with conventional practices, possible risks may still happen on a farm, and having a good insurance program in place for your farm, through appropriate farm insurance, may help you run your day-to-day operations without worrying about loss or damages.
Possible risks that you may encounter handling farms
The risks involving farm management may not only be due to losing your crops and livestock due to an accident or a disaster. Can you imagine all the hard work that a farmer into cultivating their land only to see it destroyed due to fire, flood or a hail storm. It is important to protect your farm. Beyond the material and produce that you may want to cover, you could also consider the business operations of your farm and the potential risks you are exposed to just through your day-to-day operations.
So, how can you protect your farm from these risks?
1. Invest in highly durable locks
While the farm business may have to keep pace with going digital, it may be one of the most lucrative industries which may also be vulnerable to theft. One of the easiest methods to secure your farm is to keep your doors and windows secured with highly durable locks within your sheds and other key premises. This may not guarantee full-proof security but at least there’s a preventive measure.
2. Install CCTVs within your premises
2. Install CCTVs within your premises
Small Business Insurance can provide cover for your business’ premises and contents, against loss, damage, theft or financial loss from an insured interruption to your business.
Tax Audit Cover for Small Businesses and Individuals.
Bill Cover will take care of your bills, so you can take care of yourself! Bill Cover will pay a fixed monthly benefit or the total of your monthly bills (whichever is the lesser) for up to twenty-four months if you are unable to work due to injury or sickness. In the event of a claim, Bill Cover can be used to help pay for your business or general living expenses such as electricity, gas, gym membership, mortgage or rent.
While the farm business may have to keep pace with going digital, it may be one of the most lucrative industries which may also be vulnerable to theft. One of the easiest methods to secure your farm is to keep your doors and windows secured with highly durable locks within your sheds and other key premises. This may not guarantee full-proof security but at least there’s a preventive measure.
2. Install CCTVs within your premises
2. Install CCTVs within your premises
One good effect of the adoption of technology is the birth of CCTVs. Consider a pair of "digital eyes" that may help you look after your premises even when you’re not on your farm or during times away from critical infrastructure. Good lighting in your area may also support this initiative to help you keep track of any undesirable activities within your area.
3. Secure your farm and farm assets with insurance
Now that you are aware of some of the potential dangers that may occur when operating your farm, you might want to consider availing some of the farm insurance which may help you cover those risks. Talk to an insurance broker who specialises in Farm Insurance to better understand your risks and requirements.
a. Home and contents insurance
This type of insurance may help you cover loss on the farmer’s home or the farm owner’s place in case of damages or theft.
b. Farm machinery insurance
b. Farm machinery insurance
Unsurprisingly, an agriculture business needs a lot of equipment to execute its day-to-day farming operations. With farm machinery insurance, your tools such as tractors may be covered in case of damages, loss or destruction. This may also be added to your lease agreement as insurance to cover your machinery.
c. Livestock, fencing, and hay insurance
With livestock, fencing, and hay insurance, your produce and farm animals may be protected from any possible damages, theft, or other disasters.
How can Advisr help you?
There are other types of insurance farmers could consider, like personal accident and injury insurance, and workers' compensation insurance, among others, which you might also be interested in. If you want to learn more about the inclusions of this coverage, Advisr can help you find and connect you with an insurance broker who could give you a detailed view of your needs and requirements.
General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.
All information above has been provided by the author.
All information above has been provided by the author.
ADVISR, ABN 17 613 588 266
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