As Wales’ farmers come together for the 100th Royal Welsh Show, one of the UK’s leading independent insurance brokers is urging them to check if they are fully protected from some of the key issues facing the agricultural sector.
With over 50 years’ experience within the agricultural insurance arena, Towergate Insurance Brokers is encouraging farmers in Wales to review their insurance plans. The experts urge farmers to check their insurance is up to date and covers all aspects of farm activities in the hope of protecting farmers in the sad event that accidents or fatalities should happen.
The number of work-related accidents and fatalities within the agricultural sector is high on the agenda, as the number is eighteen times as high as the average rate across other industries in the UK. As part of a plan to reduce the risk of these events, Health and Safety Executive (HSE) completed on-farm inspections in Wales earlier this year hoping to tackle the number of work-related injuries and fatalities.
According to the HSE, between 1 April 2018 and 13 March 2019 there were 39 fatalities within agriculture in the UK and 13,000 non-fatal injuries. This figure includes nine deaths involving cattle; fourteen struck by moving vehicles and seven falls from height.
Louise Reid, Development Executive at Towergate Insurance Brokers, said:
Improving farm safety must be high on the agenda for all farmers to reduce the number of families left devastated by these terrible accidents. Farmers in Wales also need to carefully consider the impact an accident will have both from a personal perspective as well as from a business perspective and protect themselves beyond Public, Product and Employers liability insurances.”
Another major issue within agriculture, which Towergate Insurance Brokers hopes to address, is underinsurance; something that can have terrible consequences for farm owners but that is very simple to rectify.
As with other types of insurance, people often undervalue their property or business. It’s vital that people carry out a full inventory to ensure that everything is covered. For example, if a barn were to catch fire, would every single item in it be insured? If not, you would very quickly find yourself out of pocket when trying to replace like with like.”
With Brexit uncertainty looming, many farmers are looking at ways to modernise and adapt to the current sector changes. While this is a very positive step, Louise suggests people remain mindful of the legal requirements and insurance cover of their new activities.
Over recent years diversification has played an increasingly large role in the changing face of the agricultural sector. Many farmers are introducing renewable energy systems, like solar panels and wind turbines to their farm, whilst others are introducing drones to monitor livestock.
Although these are great additions, it is important to note that farmers are under the same legal obligations and must ensure that their insurance is updated and covers these non-standard activities. Similarly, if a farmer decides to start renting land or rooms for holiday lets, they need to be cautious and check their insurance covers them for these changes. I would advise any farmers in doubt to get in touch with their insurance provider for advice.”
Towergate Insurance Brokers is one of the UK’s leading independent insurance brokers and risk management advisors. Boasting an experienced team of insurance specialists, Towergate Insurance Brokers has built a solid reputation for understanding many business sectors and industries, and the everyday risks they face in today’s increasingly complex world. They also look after the insurance needs of private individuals and families seeking tailored personal covers. To find out more about agricultural insurance, contact Louise on 07974 931677 or visit https://www.towergateinsurance.co.uk/