Will Farm Insurance Cover All My Outbuildings and Sheds?
Caeva O'Callaghan | December 16th, 2020
Farm insurance is a catch-all term that can lead you to believe your entire farm is included on the policy. But does that include your outbuildings?
Yes – as long as you declare them on your policy when you take it out.
In order for your farm insurance to cover your outbuildings and sheds, you need to tell your insurer that you want to include them on the policy. This is no different than declaring the contents of your home, for example, on your home insurance policy if you want them to have cover in the event that they need replacing or repairing.
In this article, we’ll cover the following questions:
- Does farm insurance cover sheds and barns?
- How do I insure my farm’s outbuildings?
- In what way does the state of my outbuildings affect farm insurance?
There are many perils involved when insuring farm outbuildings, so it’s important to have the necessary insurance in place
Declare your outbuildings on your policy
Farm insurance doesn’t automatically include everything that’s on the farm. When generating your quote, you need to advise your insurance company (or your insurance broker) on what you want to have cover.
Imagine you had a fire at your house, for example, and an expensive vase was damaged beyond repair. Did you include it on your home insurance contents policy? If not, then the insurance company doesn’t know it exists. If you don’t declare it, you won’t get compensation for it.
The same applies for your domestic buildings insurance. If you don’t declare your house has a conservatory, for example, and a falling branch smashes its windows, your insurance won’t pay out when you claim. This could leave you terribly out of pocket.
So, you need to declare each and every outbuilding and shed you have on your farm insurance policy. Do this as fully and accurately as possible. Will it mean you pay more for your premium? Possibly. But it will ensure you have cover when you need it most.
Insured farm risks
Farm outbuildings are fairly unique when it comes to insurance. Unlike a garage, they’re likely to be far away from the main property. This means they’re not only more attractive to thieves, but you are less likely to notice damage as soon as it happens. Outbuildings can also contain incredibly expensive equipment, endure more exposure to the elements, and may even be more susceptible to damage from nearby livestock.
Fire and storm are the two perils any standard farm outbuildings insurance policy will include. Fire is almost always a given, and with that you’re relatively safe insuring any kind of outbuilding.
However, whether you get storm cover will depend on a few factors, including:
- The age of the outbuilding
- Its state of repair
- Whether you already have storm cover with your current insurer? (If you do and we recommend a switch to Axa Farm Insurance, then you will automatically get storm cover.)
This is because the age and state of the outbuilding will determine how well it’ll stand up to a blustery storm.
Helpful hints for your farm insurance
Hoping to get storm cover for your farm outbuilding? One of the most useful steps we can recommend is taking lots of photographs for your insurer. If you have a very old outbuilding, but it’s in great condition, photos can help provide evidence that it is solid despite its age.
Be sure to give us the right eircode when you generate a quote for your policy. Different areas of Ireland have different storm risks. Inputting an accurate location helps your insurer consult meteorological data to determine the risk of a big storm, which will help give you a more accurate premium.
When getting insurance, the basic rule is that your farm buildings should be insured for the cost of replacing the building in the event of a total loss. However, a good idea is to deduct the cost of replacing a slurry tank since you won’t have to replace it in the event of a fire or storm. This can help keep your premium down.
And please don’t forget about factoring in the cost of whatever you keep in your outbuildings. Provision should also be made on the policy to provide fire cover for agricultural produce, hay, straw, agricultural implements, tools and fire brigade charges. Those costs can all add up, so make sure you include those.
If your farm insurance is up for renewal, call us today and talk to our trained and experienced farm insurance experts. We look forward to finding you the right insurance for your farm.
All Information in this post is accurate as of the date of publishing.