Does everyone insure all farm buildings ?

[valtraman]

My insurance is rocketing as everybody else’s is so looking at ways of cheapening it. We have cover on everything farm wise . When I asked what is costing the most too insure or what has gone up the dearest there saying farm buildings . Ours are covered for most things but does everyone have all there buildings covered or not ? I’m considering taking them off as it’s just getting too expensive & take the risk . My steading is fairly spaced out in the event of a fire they wouldn’t all burn , I’ve no trees round sheds we have seen a lot of big storms over the years & no damage. We will never flood. I will still have my cover for livestock l, fodder & produce stored . Does anybody else not insure buildings ?

 

[onthehoof]

We took some off a few years back, mostly cattle sheds just steel and concrete, kept the straw sheds on though!

 

[capfits]

Yes, all buildings covered.

 

[sidjon]

Ours are only covered for fire.

 

[Whitewalker]

Up til now yes , storm damage etc . Now whether the value resembles the reality of replacing I don't know which is a grey area . Thankfully never needed

 

[Bald Rick]

My insurance is rocketing as everybody else’s is so looking at ways of cheapening it. We have cover on everything farm wise . When I asked what is costing the most too insure or what has gone up the dearest there saying farm buildings . Ours are covered for most things but does everyone have all there buildings covered or not ? I’m considering taking them off as it’s just getting too expensive & take the risk . My steading is fairly spaced out in the event of a fire they wouldn’t all burn , I’ve no trees round sheds we have seen a lot of big storms over the years & no damage. We will never flood. I will still have my cover for livestock l, fodder & produce stored . Does anybody else not insure buildings ?

Just had a £10k claim settled for roof damage thanks to Storm last but one.

If the sheds have been put up a bank loan, they’ll require them to be insured to replacement value … and may/will request a look at the schedule

 

[Kiwi Pete]

We use a broker - what he found (and I'd love to take credit for it) was that it was cheaper to insure our sheds at replacement value then insure the contents, than to just insure the contents. By quite a margin!

 

[cows sh#t me to tears]

^ same same. Don't forget that what a building cost you even 5 years ago, won't get anywhere near replacement now.

 

[Sprayer 1]

Questioned our insurance renewal yesterday and asked to be itemised . Was surprised to see we were paying £1500 for the house and contents. Had a scan on go compare and could get same cover for £650. Always just put it all together as its easier and thought there would be discount.
When I told the company they explained that their expertise is in the farming side.
House is a small 4bed farm workers cottage built 8 years ago.
It pays to question.

 

[spin cycle]

storm damage costs a lot......most of mine just fire

 

[valtraman]

It does pay to question I’ve had our motor policy reduced by doing a few tweeks that didn’t need to be in there. For the likes of straw & fert stored I have seperate cover for these outwith buildings . I just feel for the weather buildings have seen over the years & coped fine they will cope again . If damage did occur then so be it I will have to dig into bank & pay it .my sheds are just cattle sheds so steel & concrete

 

[Raider112]

Had a bit of damage in the recent storm, several rooves with minor to major damage. Been told we can get quotes and have no excess.

Heard of a similar claim with £500 excess per building!

 

[serf]

Took all buildings off this time apart from straw shed cos it was getting a p!sstake

 

[Tamar]

Just remember, most tenancy agreements insist on insuring buildings, including storm damage !

 

[neilo]

Just remember, most tenancy agreements insist on insuring buildings, including storm damage !

Really? My understanding was the LL is responsible for insuring ‘his/her’ buildings. Here, I have one building that I erected & own, which I have to insure. The rest are covered on LL’s insurance.
I obviously cover the contents as they’re mine.

 

[Blue.]

We had to insure all the buildings on the farm using our landlord’s chosen insurer,they didn’t like me getting an alternative quote.

 

[Still Farming]

Costing every penny I have?

 

[Hfd Cattle]

All our buildings are covered 'en bloc' for fire ,storm and accident. I put up a new shed the week before Christmas to thin the store cattle out and notified the insurance . There was no increase in premium.

 

[robs1]

We have only insured the straw and hay buildings for many years apart from the old chicken house and that's purely to cover the cost of getting rid of the asbestos. Many years ago in the 90's we had all the buildings covered and had some storm damage which at the time cost around three thousand to repair, I put in a claim which was paid but the next year the premium went up by around a third of the claim, when I questioned the rise they said well you had a claim last year, my reply was that was the first claim I had made in the ten years I had been running the farm so they had plenty of savings to pay me out, they didn't care so I just stopped insuring anything that isn't likely to burn.

 

[Flatlander]

Insurance is my pet hate. I’ve no buildings or grain bins insured. Figured if I can get past ten years with no sizable out of pocket repairs I’m better off even if I loose a shed to fire or storm. Equipment only covered fir fire and public liability. Have the bare minimum on crop insurance but won’t this coming years as I’ve not claimed in 15 years and the premiums are such that sh1t needs to hit the fan pretty hard before it’s worth the bother. Self insure on all but liability.