Cutting Insurance Down To Size

[teslacoils]

Anyone got any ideas? Are there any farm items that generate a disproportionate chunk of an annual premium? I'm guessing the quad bike I use maybe one day a year should really go.

Looking for some things I can either jettison or stuff I can actively do to get the cost down.

 

[solo]

It depends where your premiums are greatest. i.e growing crops, buildings or machinery. For me buildings are a high proportion whereas vintage tractors are the cheaper end of the scale.

 

[Steevo]

I'd think it would be worth having a word with your broker and asking them to take a look through and see where the majority of the costs lie.

They would also know the likely highest cost to cover ratio for different items.

 

[bobk]

Don't insure any buildings , or the combine ,

Anyone do just farmers limited liability ? have to have that due to the liabilities walking around

 

[DRC]

Everything should be itemised

 

[7610 super q]

Got to insure the house. Got to insure anything under 5 years old.
Anything else ?....well.
The biggest cost/ nightmare is all this liability nonsense......." What if this happens if a driver gets run over when loading wagons ", " What happens if a rambler gets skewered on a bale spike ? " etc, etc.
f**king big modern con. And it's costing a fortune.

 

[stewart]

Got to insure the house. Got to insure anything under 5 years old.
Anything else ?....well.
The biggest cost/ nightmare is all this liability nonsense......." What if this happens if a driver gets run over when loading wagons ", " What happens if a rambler gets skewered on a bale spike ? " etc, etc.
f**king big modern con. And it's costing a fortune.

Then don't insure the items you regard as a con, it's not compulsory is it?

 

[bobk]

Then don't insure the items you regard as a con, it's not compulsory is it?

I HAVE to insure our french gaffe as it contains public liability , if a burglar gets injured ransacking it we are liable , what's french for woke bollox ?

 

[AJ123]

Have you re tendered? A lot of ag insurers are very uncompetitive until challenged and rely on people not shopping around.

 

[Bald Rick]

Anyone got any ideas? Are there any farm items that generate a disproportionate chunk of an annual premium? I'm guessing the quad bike I use maybe one day a year should really go.

Looking for some things I can either jettison or stuff I can actively do to get the cost down.

Depends how risk adverse you are … and whether you employ staff.

Personally, I’d rather be over insured than have my bottom Max Mosley’d

 

[stewart]

I HAVE to insure our french gaffe as it contains public liability , if a burglar gets injured ransacking it we are liable , what's french for woke bollox ?

Is it a legal requirement?

 

[bobk]

Is it a legal requirement?

Yes .

 

[ladycrofter]

Check the detail on the final cost sheet. We found they were putting on quite a hefty premium just for the privilege of selling us insurance - service fee, admin fee etc.
We recently added a piece of machinery which wasn't cheap and they charged us £25 for the privilege of doing it.
Greedy b*stards already get a cut from the companies they use for underwriting, e.g. Axa appear quite often on the machinery part of a quotes tractors etc.
As said shop around. It's a hassle it first but then the new company know they've got to work to keep your business or you'll do the same again.

 

[texelburger]

My brother only insures what he legally has to ie road vehicles and public/employers liability. That's about it,I think.

 

[xmilkr]

Any one had experience of claiming against some one with the same ins. company, which party do the company support and what is the law in this situation ?

 

[fudge]

Anyone got any ideas? Are there any farm items that generate a disproportionate chunk of an annual premium? I'm guessing the quad bike I use maybe one day a year should really go.

Looking for some things I can either jettison or stuff I can actively do to get the cost down.

IMO there is no substitute for shopping around. Insurance companies don’t reward loyalty. Just my experience.

 

[Dry Rot]

Any one had experience of claiming against some one with the same ins. company, which party do the company support and what is the law in this situation ?

I got flooded out due to a blocked culvert -- simple negligence by a neighouring riparian owner. I didn't even realise my insurance covered it, so geared up to sue. Checked my insurance and it was no problem who paid out £6,500 which included some of the legal work I had done. We are both insured with the same company. I can't speak for the other party as we don't talk!

 

[Pan mixer]

Insure what you can't afford to replace.

Public liability and (if you have them) employers liability compulsory as is third party for road going gear.

I always regret the amount I pay for the insurance until I want to make a claim.

 

[cb387]

They always seem to be coming up with some new cover that we ‘ought to consider’. Management liability was the last one.

 

[Barleymow]

I found that the insurance policy covers tax investigations so cancelled the policy the accountants charged for .No point paying for the same thing twice