In this day and age of unpredictability, we need to give ourselves something to fall back on more than ever in case of loss. Insurance has been one of the most effective means of ensuring that we are protected should something unexpected occur.

There are various types of insurance, but did you know that your agricultural vehicle can be insured? Insurance is required not only for your life but also for your farm vehicles. Before I go any further, if you’ve been living under a rock since the 18th century B.C., you might be wondering what agricultural insurance is.

Agriculture insurance is a policy that entails the farmer paying a premium, typically expressed as a percentage, to an insurance company in order to guarantee against loss due to any of the covered perils for a specific amount of time with a promise to reimburse the value of loss should such an event occur. This kind of insurance offers you financial security against losses and is a useful farm risk management tool.

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The importance of insuring your agricultural vehicle cannot be overstated if you own a vehicle that is primarily used for farming, whether it be a tractor, quad bike, crop treatment vehicle, vintage tractor, harvester, or trailer. Because accidents happen and are unavoidable, doing so will help you guard against unforeseen losses.

Agricultural insurance for vehicles offers coverage (amount of risk or liability that is covered by insurance services) in the following areas;

1. Bodily injury liability in the situation your farm vehicle is involved in an accident.

2. Property damage liability for when your farm vehiclecauses damage to someone else’s property.

3. Comprehensive coverage pays for damage to your insured farm vehicle resulting from events such as fire, theft, vandalism, and malicious mischief, giving you peace of mind that your vehicle is safeguarded.

4. Collision coverage compensates for harm brought on by an unintentional collision or overturns to your insured farm vehicle.

5. Uninsured and Underinsured:The coverage guards against bodily injury brought on by other drivers who do not have enough auto insurance for you and your passengers.

Top 5 insurance companies for your agricultural vehicle in the United Kingdom

1. National Farmers’ Union Mutual Insurance Society

The National Farmers Union Mutual (NFUM) Insurance is a UK-based company founded in 1910 that now underwrites more than £1.5 billion in annual premiums. The company offers personal insurance, agricultural and commercial insurance, home and motor insurance, life insurance, retirement and financial planning, pensions, and investment services.

NFUM has insurance for vintage tractors, tractors, harvesters, quad bikes, crop treatment vehicles, and trailers.

According to their websites, their vehicle insurance covers:

•  Theft, fire, or accident-related damage to your vehicle.
•   Legal liability up to any amount for third-party injuries and up to £5 million for third-party property damage.
•  Motor Legal Protection provides you with access to legal counsel and pays up to $100,000 in legal expenses.
• Short circuit causes damage to electrical wiring, the engine control unit, and alternators.
•  Up to £1,000 may be claimed for each event for agricultural goods transported.
•  Mobile GPS units both attached and detached.
•  Spare components and accessories you keep in your vehicle.
•  Glass replacement

There must be something that the National Farmers Union Mutual (NFUM) is doing well, as they have nine hundred thousand members and a 4.5-star review from 3814 people. If you need insurance for your agricultural vehicles, we suggest you check them out.

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2. Marsh Commercial

Since its founding in 1989, Marsh Commercial has offered commercial insurance, health care, employee benefits, commercial finance, insurance brokers, and financial services. Its corporate headquarters are located in the UK.

They offer insurance for agricultural vehicles such as tractors, self-propelled sprayers, farm quad bikes, combine harvesters, forage harvesters, and self-propelled potato harvesters.

According to their websites, their vehicle insurance covers:

• Legal liability for death or injury to any other person, including passengers
• Vermin damage
• Ingestion of foreign objects and internal damage to machines
• Cover for any authorized, licensed driver on agricultural vehicles
• Trailers and attachments are only allowed to cost up to £150,000 per item (market value) without a specification.
• Glass cover and windscreen.

3. Farm & General

Farmers’ insurance brokers Farm & General specialize in coverage for tractors and other agricultural machinery. The business is registered in England and Wales and provides instant quotes and affordable premiums with coverage for agricultural vehicles like tractors, all-terrain vehicles, quad bikes, or self-propelled implements.

Their insurance typically covers:

• Agricultural equipment, whether attached or detached.
• Theft or unauthorized removal of an insured vehicle
• legal fees associated with an accident that was insured
• Explosion, lightning, or fire
• Personal injury protection, urgent care, and medical costs
• Personal items in your car that are misplaced or harmed as a result of an accident, fire, theft, or attempted theft
• Repair or replacement of damaged windows or windscreens.
• liability as defined by your Certificate of Motor Insurance, which includes any sums you or your staff may be required by law to pay for causing a person’s death, serious injury, or property damage.

 

4. Tower gate insurance

Towergate Insurance Brokers, a trading name of Advisory Insurance Brokers Limited, offers a number of business insurance policies through its brokers. They provide different cover types that can protect your company from a range of potential expenses and liabilities. Tower Gate is headquartered in London, England, DN4 5PL, and is incorporated in England.

Their coverage for agricultural vehicle insurance involves:

• Theft or unauthorized removal of an insured vehicle.
• liability as specified by your Certificate of Motor Insurance, which includes any payments you or your staff may be required to make in the event that you or they are legally responsible for causing someone’s death, significant injury, or property damage.
• legal fees associated with an accident that was insured

The insurance company has a 3.9-star review out of 5-star reviews from 760 people.

5. Shear water insurance

Shearwater Insurance was established in 1992 and initially specialized in horse insurance.

The company offers policies covering horse insurance, equestrian insurance, commercial insurance, motor insurance, and insurance for agricultural vehicles.

They offer insurance for tractors, combine harvesters, cranes, excavators, diggers, forklift trucks, and all-terrain vehicles.

According to their website shear water insurance covers:

• Trailers and goods
• Hired in vehicles
• Legal liability covering injury or death
• comprehensive or third party
• Theft cover

Pros of having agricultural insurance for your vehicle

• It safeguards your income from unforeseen costs.
• It safeguards the funds you are setting aside for plans.
• Risk is reduced by the insurance company in exchange for a small premium, which helps to share out the risks.
• Helps farm to smoothly by providing financial compensation.

Cons of having agricultural insurance for your vehicle

• Due to drawn-out legal procedures, providing financial compensation takes longer.
• Most insurance companies try to compensate the victim as little as possible on purpose to maximize profit rather than the well-being of the insured.
• Due to the beneficiaries of the policy’s potential temptation to commit crimes in order to receive the insured amount, it may encourage crime in society.

Insurance for agricultural vehicles is a very important component of a successful farming business. Although, in general, insurance policies have their pros and cons but having agricultural insurance will give you peace of mind and protect your vehicles in case of any unfavorable unforeseeable circumstance.