NfU insurance

[steveR]

Was it NFU Mutual who told you, or someone else?

Yes, NFUM.

I was told in so many words, that "the Underwriters have given us the numbers, and they are not able to be challenged"

I take that as the NFUM using Underwriters for their Policies.

 

[steveR]

Funny how little loyalty and integrity counts these days, I personally don't price check my guys as I think they are fair and on renewal very practical on all things plus what might need to be revalued, but we don't have online renewals, we have the man himself come to go through it himself which speaks mountains. For the past few years he's questioned our values on quite a few bits and have probably been undervaluing my kit in hindsight. Whatever the premium is don't scrimp on valuation guys, premium on farm kit is about £10 per £1000

Found the same here over the years, but I am no longer worthy of a visit it appears. I like, and have always valued the vists we had from our local Rep. But it seems time has moved on.

Herself said it is because I left the NFU, which I know shouldn't make any difference, but....?

 

[Clive]

NFU insurance is it a premium product?
My renewal has come in over 15% increase yoy which feels excesssive.
Had a quote off a competitor for substantially less but
the main difference is NFU is the actual insurer where as
the alternative is a broker through a 3rd party.
Been with NFU a long time what are other peoples experiences?

it’s definitely not a premium product ! after decades insured with them we moved when they got very flaky over a couple of claims we had, combined with premiums getting silly we shopped about for the first time and we’re utterly shocked by the difference

moved to f&m and halved our premiums ! then a few years later moved to Acres and got a better deal still and more covered

have had claims with f&m and Acres - both experiences better than i had with nfu mutual

that move has saved us well over 100k now !

speak to @Nigel Wellings - i don’t think anymore knows / understands ag insurance better than he does !

 

[Clive]

NFU will reduce premiums, in my experience, if questioned.
I will try CR next time though after reviews on here

i find that insulting frankly - why not quote customers your best price first time ?

i don’t run auctions - all suppliers only get one chance to quote me

 

[neilo]

left them almost 30 yrs odd ago as we coudnt afford luxuries with a mortgage to pay and flock to build with no claim quota.

didnt wear kawaiki jackets or mincy nz leggings fancy hats gloves dog baskets on the back of quads either or even have a quad bike. or pick up or prattley handling and digital weigh crates and mobile phones or john deere tractors 50 inch flat screen tellies chambro french pnicy wellingtons or fart back boots with twinkles on the toes.....no pe none of that
. just the dogs.

just loved the job ,and relished the opportunity that was enough.

different World today.

Because you have all those things now?

 

[Kidds]

I take the view you only get one bite at the cherry, same with any supplier. The ones that say come back if we get beaten on price are not trying hard enough in the first place.

 

[texelburger]

In reality, insurance premiums need to go up 10% to cover inflation.

I changed from NFU 10 years ago to an ag insurance firm that was far cheaper. Fine for a few years until I needed to claim. You suddenly realise how good an insurance company is when you make a claim !! Cheap for a reason.

Now back with NFU.

I've been with a few different brokers for years and never had any problems, whatsoever, when making a claim.

 

[Nigel Wellings]

Farm Insurance Market across the majority insuranceof companies has seen 10-15% increases in last 2 years. Inflation and increased rebuild costs is the cause of this.
As a Broker the biggest problem we have is getting service from Insurance Companies, it is generally why some clients dont receive renewals until 1-2 weeks before renewal date. We will always give a cover extension past renewal date if paperwork is late arriving.
To get a quote on a like for like basis use last years renewal paperwork.
Cover, Claims Service and independent advice are for me the most important factors- also make sure you properly disclose all previous claims and have had some proper advice about realistic rebuild values on houses and farm buildings (re build costs have jumped alarmingly.

 

[lloyd]

Farm Insurance Market across the majority insuranceof companies has seen 10-15% increases in last 2 years. Inflation and increased rebuild costs is the cause of this.
As a Broker the biggest problem we have is getting service from Insurance Companies, it is generally why some clients dont receive renewals until 1-2 weeks before renewal date. We will always give a cover extension past renewal date if paperwork is late arriving.
To get a quote on a like for like basis use last years renewal paperwork.
Cover, Claims Service and independent advice are for me the most important factors- also make sure you properly disclose all previous claims and have had some proper advice about realistic rebuild values on houses and farm buildings (re build costs have jumped alarmingly.

Is that 10-15% increase total over two years or per year?Cheers

 

[Nigel Wellings]

Is that 10-15% increase total over two years or per year?Cheers

The 10-15% increase has been in each of the last 2 years. So I would say total is 20-30% over the 2 year period.
Bear in mind Insurers will have increased house and farm buildings rebuild costs by approx 20-25% over the same 2 year period.

 

[balerman]

Same experience here,25% increase this year.Tractors part of it was 70% increase even tho no claims at all this year.Gone through a broker and like for like cover is same as I paid NFU last year.I know they are paying out a lot on GPS equipment round here,JD star fire domes etc,but I haven’t got anything like that,should be special premium for that type of stuff.

 

[Nigel Wellings]

I am amazed that Insurers dont charge more for any tractor/machine fitted with Greenstar Guidance due to the number of thefts. It appears they are charging more across the whole tractor market rather than targeting the type of machines that have had most claims. Fairly unsophisticated and blunt approach I am afraid.

 

[L P]

I am amazed that Insurers dont charge more for any tractor/machine fitted with Greenstar Guidance due to the number of thefts. It appears they are charging more across the whole tractor market rather than targeting the type of machines that have had most claims. Fairly unsophisticated and blunt approach I am afraid.

Imho they should only be insured for damage on a working machine and covered for theft under workshop insurance Nigel. Would think the manufacturers could fairly easily code them to the farm rendering them ornaments if they were pinched. Think 6000 domes can be?

 

[Nigel Wellings]

Imho they should only be insured for damage on a working machine and covered for theft under workshop insurance Nigel. Would think the manufacturers could fairly easily code them to the farm rendering them ornaments if they were pinched. Think 6000 domes can be?

Coding has been raised numerous times with JD. You pay for an unlock code to get access to them. Why can they not lock them if they are stolen. Number of JD tractors stolen by Russians at start of Ukraine war- they managed to remotely immobilise all of these.
Big margins being made out of selling replacement Green Star units I think

 

[balerman]

I am amazed that Insurers dont charge more for any tractor/machine fitted with Greenstar Guidance due to the number of thefts. It appears they are charging more across the whole tractor market rather than targeting the type of machines that have had most claims. Fairly unsophisticated and blunt approach I am afraid.

It’s just plainly the wrong way to do it.Mate of mine had 3 JD domes stolen one night,not worried at all,insurance will pay.Had to bite my lip,I don’t like paying for other people’s toys.

 

[Bury the Trash]

Because you have all those things now?

no but Got Dogs and 32 inch telly (wouldve been about 22 " back then i suspect )

 

[L P]

It’s just plainly the wrong way to do it.Mate of mine had 3 JD domes stolen one night,not worried at all,insurance will pay.Had to bite my lip,I don’t like paying for other people’s toys.

It's little different to leaving 5k of cash in an envelope taped up there... you just wouldn't... hardly difficult to take off at night

 

[Still Farming]

NFU insurances cost me thousands a year for everything.

 

[balerman]

NFU insurances cost me thousands a year for everything.

Mine was going to be £6k this year,that’s 4 tractors,old combine,car,truck,farmhouse,buildings,holiday let.

 

[Still Farming]

Mine was going to be £6k this year,that’s 4 tractors,old combine,car,truck,farmhouse,buildings,holiday let.

Going up and up and only every claimed twice in a Generation?