What is Rural Insurance?
As with any business, you need to safeguard your essential assets and protect yourself against legal liabilities. Rural insurance is designed to cover you and protect your rural assets like farm buildings, contents, farm machinery, and vehicles, as well as the many other assets required in your day-to-day rural operations. In addition, rural insurance can insure for loss of turnover and increased operational costs from an interruption to your business, as well as your legal liability for property damage and personal injury.
Why is Rural Insurance important?
Rural insurance is recommended for anyone who is running a business in farming, agriculture or horticulture. Rural insurance provides coverage against damage to your property (farm buildings, farm machinery, tools, and vehicles. It can also include losses due to business interruption and legal liabilities as a result of claims for property damage or personal injury. Furthermore, rural insurance protects the farming business it eases the life of farmers, as well as their families, covering risks that threaten their livelihood.
What does Rural Insurance cover?
Rural insurance provides coverage against damage to your property. (farm buildings, farm machinery, tools, and vehicles). It can also include losses due to business interruption, and legal liabilities
- Rural vehicles - protection for farm vehicles and mobile implements
- Rural assets - protection for farm/rural assets such as buildings, machinery, plant, tools, and equipment in cases of damage.
- Machinery Breakdown - protection against accidental breakdown of machinery such as pumps, boilers, pressure valves, etc. It excludes coverage for normal wear and tear
- Rural Business Interruption - protection against any event that causes temporary suspension of rural business operations
- Livestock insurance - protection against accidental death due to disease or illness, theft, and escape of high-value livestock (includes dogs and horses)
Who needs Rural Insurance?
Rural insurance is designed to meet the needs of people who live and work in rural areas. This can include farmers, ranchers, and other agricultural producers, as well as people who own rural homes or properties.
Here are some specific examples of people who may need rural insurance:
- Farmers and ranchers: These individuals typically require insurance coverage for their crops, livestock, and equipment. They may also need liability coverage for accidents or injuries that occur on their property.
- Rural homeowners: People who live in rural areas may need insurance coverage for their homes, outbuildings, and personal property. They may also need liability coverage for accidents or injuries that occur on their property.
- Small business owners: Rural areas often have a strong small business community, and these entrepreneurs may need insurance coverage for their property, equipment, and liability.
- Outdoor enthusiasts: People who enjoy hunting, fishing, and other outdoor activities may need insurance coverage for their equipment and liability.
- Non-profit organisations: Rural communities often have active non-profit organisations, such as churches, schools, and community centres. These organisations may need insurance coverage for their property, liability, and volunteers.
Insurance Advisernet understands the challenges of rural businesses and communities. Our network of expert insurance brokers will take the time with you to an insurance package for you. Contact us today!
