A new era in agriculture
Agriculture is at the dawn of a new cycle. Does your farm insurance recognise that? Jason Byrne, Head of Agri at Zurich Ireland, shares details about Zurich’s farm insurance, new cover enhancements and the key things to remember when choosing the right farm cover for you.
Our long-standing commitment to putting the farmer first, together with our history of settling 99%* of our farm claims means our farm insurance provides peace of mind to you, your family and your business. Zurich’s farm team aren’t just farm insurance experts, they are passionate about farming, combined with more than 130 years of experience in the field. This understanding allows Zurich to offer a farm insurance product which offers sustainable and valuable protection.
Unfortunately having lost my own father to a tragic farming incident in 2018, which is still subject to an inquest, I know only too well the importance of farm safety and supporting customers when the worst happens.
Living on a family farm in West Cork and working remotely since before the pandemic means, I’m acutely aware of the significant challenges that many Irish farmers are facing at present”. That’s why we at Zurich Insurance have recently reviewed and improved our product offerings to ensure they continue to be market leading, relevant and create value for our farming customers.
So, what’s new for Zurich farming customers?
Zurich has recently written to all existing farm customers to advise them of new cover enhancements which came into effect from 1st March 2022.
For example, one particular area that we reviewed is Legal Liability. Farming and farmyards continue to be one of the most dangerous environments and workplaces for serious accidents and fatalities in Ireland, so we have increased our standard limit of indemnity under both covers to €6,500,000 - one of the highest levels of cover on the market. We’ll cover all amounts you’re legally responsible to pay while helping you mitigate that exposure to your family and your business.
Protecting farm sustainability
With more farmers considering afforestation as part of their business, we have also updated our cover so that a farmer can protect their investment in growing trees and the costs associated in re-establishing the crop in the event of a loss, such as by a fire. Storm cover has also been amended to include trees up to 24 years of age, while fire brigade charges have been revised up to €30,000.
Empowering dairy and livestock farmers
To support our Dairy farming customers, we have included a range of specific enhancements all geared toward giving them peace of mind and the ability to concentrate on running their operation. Where a farmer suffers a loss or other insured property damage by fire, we have included a standard €10,000 limit to assist and get them back up and running as quickly as possible.
When it comes to Livestock, Beef and Sheep farms, we are delighted to incorporate changes that will see the basis of settlement increased for market value, plus 10 percent for cattle and market value plus 20 percent for sheep. This is a useful way to protect farming livestock value and income. Additionally, optional extras, such as accident, illness or disease, are now something you can purchase under one product without having to take out separate policies.
Farming is changing
Farming has never stood still and as farms evolve, the legal and regulatory environment has become more complex. We have developed a new service proposition which provides access to 24/7, confidential telephone legal advice on a range of commercial and personal legal issues. In addition, our enhanced €400,000 limit for legal expenses insurance can protect you against the cost of contract and employment disputes, legal defence, and property protection.
Rising costs and inflation
It is very important that Customers are aware of the impact of rising rebuilding costs and inflation. Please review the adequacy of all sum insured values and change if required to avoid potential for underinsurance and application of the condition of average.
Where can people learn more about Zurich Farm Insurance?
To find out more about Zurich Farm Insurance, the recent improvements to cover and what they mean for you, or to arrange a personalised farm visit, simply call our Farm Team in Wexford on 053 915 76 77 / 0818 800 171, contact your local farm insurance expert or drop in to use us over the summer months at a country show near you.
To find out more about our new cover enhancements click here.
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