Farm insurance

older by the day · 22-10-2019 9:59pm

I'm with McCarthy insurance group. They are a broker. I think people are over insuring there farm buildings. They might lose a few sheets of iron, but why insure for say 60 - 80k. The Gale will hardly take the slatts.

Bass Reeves · 22-10-2019 10:59pm

older by the day wrote: »

I'm with McCarthy insurance group. They are a broker. I think people are over insuring there farm buildings. They might lose a few sheets of iron, but why insure for say 60 - 80k. The Gale will hardly take the slatts.

Insurance companies factor in that damage to things like slats it tanks is unlikely to happen. You have to insure to the replacement value of the entire shed or else if you have a claom it is null and void

whelan2 · 23-10-2019 5:46am

I'd prefer to be over insured than under insured. It's not much of a difference in premium tbh

orm0nd · 23-10-2019 7:26am

whelan2 wrote: »

I'd prefer to be over insured than under insured. It's not much of a difference in premium tbh

Very important to have high values on the livestock as well. It costs very little extra but could mean a big difference in the event of a claim.

Eggs For Dinner · 23-10-2019 7:34am

Bass Reeves wrote: »

Insurance companies factor in that damage to things like slats it tanks is unlikely to happen. You have to insure to the replacement value of the entire shed or else if you have a claom it is null and void

You are almost right. If you under insure on the full rebuilding cost , you will only get a partial settlement, it is not null and void.

As an example, if a shed would cost €50k to rebuild and you insure it for €25k (half), you will only get half of anything you claim for. eg. €10k worth of damage, you will get €5k less your policy excess

wrangler · 23-10-2019 7:41am

Bass Reeves wrote: »

Insurance companies factor in that damage to things like slats it tanks is unlikely to happen. You have to insure to the replacement value of the entire shed or else if you have a claom it is null and void

FBD pay a percentage of the claim if you're underinsured, ie if you're underinsured by 25% they'll deduct 25% off your claim, which is fair enough.

Eggs For Dinner · 23-10-2019 8:30am

wrangler wrote:

FBD pay a percentage of the claim if you're underinsured, ie if you're underinsured by 25% they'll deduct 25% off your claim, which is fair enough.

All insurers are the same. It's the "Average Clause", though the name doesn't ideally describe it

Donegalforever · 23-10-2019 7:48pm

older by the day wrote: »

I'm with McCarthy insurance group. They are a broker. I think people are over insuring there farm buildings. They might lose a few sheets of iron, but why insure for say 60 - 80k. The Gale will hardly take the slatts.

The problem with keeping the value of anything lower, (when insuring), than its real worth is that if you have a claim you will only be paid a fraction.
For example if your sheds are worth €60,000 and you insured them for €30,000, you are only covered for half their worth.
If you have a claim for say €20,000 you will only get paid €10,000.

It is important to put the correct value on whatever you intent insuring.

Thekeencyclist · 25-10-2019 10:48am

With Axa the past year and just renewed with them last week for the next 12 months via a Broker.

Was with FBD previously and found them to be getting very expensive. Before I changed to Axa, the quote from FBD did not include the 2 tractors as they want to do them as a seperate Policy. Axa's quote was a few hundred cheaper and included the 2 tractors.

So jump back to last week, FBD Rep called to the house as the obv knew the Policy was coming around for renewal, funnily enuf this time, they could do the farm and all thats needed there liability wise etc, house, cattle trailer + 2 tractors for less than the quote they gave me 12 months previously (which didnt include tractors) BUT Axa was still 50e cheaper at the end of the day. However the broker did say that the initial quote this year from Axa was a couple of hundred more expensive but the Broker worked out a discount with them (seemingly which brought it down).

1 thing the FBD Rep did say to me tho was to NEVER insure the car or jeep on the same policy as the farm policy cos in the event of an accident the no claims bonus would be lost for everything essentially. Always keep the car/jeep/farm vehicle seperate no matter who you go with were the words used....its a minefield when it comes to insurance, so many finer details that are hard to think of when getting quotes.

whelan2 · 04-11-2019 7:03pm

So I had a missed call from an axa rep this evening. I specifically told them my renewal date was 31st of Oct when I spoke with them in the mart about 5 weeks ago

Timmaay · 04-11-2019 8:10pm

My dad is 81 but full ncb etc, and only does like 2k local miles a Yr max, 2010 car worth about 5k, his FBD renewal quote was 1150e there 2wks ago ffs. Best they could drop it to was 1050. I went into the local broker and they gave me a price of 770e so I've obviously moved. Still absolutely nuts money for his level of risk. When I called the girl in the fbd office to cancel she said fbd have gone nuts with motor quotes this year, and everyone leaving them. I had to insurance both tractors the same time also, which are insuranced separate to the farm policy, my other broker told me straight up Zurich etc aren't competitive with fbd for individual tractor policies, but suggested I only pay for the tractors up until the farm policy ends, that way I can have the flexibility of going with an all inclusive farm policy which was a reasonable point.

visatorro · 04-11-2019 8:38pm

Timmaay wrote: »

My dad is 81 but full ncb etc, and only does like 2k local miles a Yr max, 2010 car worth about 5k, his FBD renewal quote was 1150e there 2wks ago ffs. Best they could drop it to was 1050. I went into the local broker and they gave me a price of 770e so I've obviously moved. Still absolutely nuts money for his level of risk. When I called the girl in the fbd office to cancel she said fbd have gone nuts with motor quotes this year, and everyone leaving them. I had to insurance both tractors the same time also, which are insuranced separate to the farm policy, my other broker told me straight up Zurich etc aren't competitive with fbd for individual tractor policies, but suggested I only pay for the tractors up until the farm policy ends, that way I can have the flexibility of going with an all inclusive farm policy which was a reasonable point.

Some joke.

kevthegaff · 04-11-2019 10:50pm

I'm gonna try to bring all insurances in line and bargain once a year. Jeep, car, 2 tractors skidsteer, house, trailer and the farm. I'm gonna get ruthless as they were only increasing every year

hopeso · 04-11-2019 10:58pm

kevthegaff wrote: »

I'm gonna try to bring all insurances in line and bargain once a year. Jeep, car, 2 tractors skidsteer, house, trailer and the farm. I'm gonna get ruthless as they were only increasing every year

The danger of that might be if you had a claim on the car for instance, you might loose your no claims bonus on everything, if they are all grouped as one. Something to look into anyway....

Buford T. Justice XIX · 21-11-2019 12:05pm

orm0nd wrote: »

eventually persuaded my neighbour to shop around for insurance. long time fbd customer who thought getting his 100€ off renewal was best he could do

Axa €800 cheaper and I've gone through the schedule thoroughly

Like for like with actually better cover from axa in some areas,

Just off the phone from Axa and they're coming in €700 cheaper than Zurich. Still have to wait for them to come out and check and add a few bits onto the quote but I was surprised at the difference for the same policy.

Bass Reeves · 21-11-2019 12:18pm

Buford T. Justice VI wrote: »

Just off the phone from Axa and they're coming in €700 cheaper than Zurich. Still have to wait for them to come out and check and add a few bits onto the quote but I was surprised at the difference for the same policy.

I wouldn't be there must have been a decent margin in farm insurance when you see how many companies have entered the market over the last 5 years.

Bass Reeves · 15-04-2020 11:28pm

Renewed farm insurance
Stock 80K
two tractors 20K comp, 10K TPFT
House 260K
Contents 80K
Buildings and Bins 110K
2nd house on farm 100K
Contents 20K
Farm wages non family 3K

Total 1500 euro with Zurich with a bit of bargaining. Two years ago I was quoted nearly 2,300 euro by Aviva for the same cover. I left FBD about 8-10 years ago when they were quoting something around present price for less cover.

Hard Knocks · 16-04-2020 10:05am

Bass Reeves wrote: »

Renewed farm insurance
Stock 80K
two tractors 20K comp, 10K TPFT
House 260K
Contents 80K
Buildings and Bins 110K
2nd house on farm 100K
Contents 20K
Farm wages non family 3K

Total 1500 euro with Zurich with a bit of bargaining. Two years ago I was quoted nearly 2,300 euro by Aviva for the same cover. I left FBD about 8-10 years ago when they were quoting something around present price for less cover.

Do you find after leaving FBD it’s hard to get w quote now?

josephsoap · 16-04-2020 10:23am

Does anyone know with commercial Jeep insurance are FBD the only ones who provide social domestic and pleasure cover as part of the policy ?

Bass Reeves · 16-04-2020 11:12am

josephsoap wrote: »

Does anyone know with commercial Jeep insurance are FBD the only ones who provide social domestic and pleasure cover as part of the policy ?

Any commercial cover I got covered social domestic and pleasure. The issue is with the tax if you are spinning down to holiday home with a fee bikes on the back, a canoe and surf board on top and a boat in the trailer behind it hard to tell the Guard ''I going to buy s few calves''

josephsoap · 16-04-2020 11:35am

Bass Reeves wrote: »

Any commercial cover I got covered social domestic and pleasure. The issue is with the tax if you are spinning down to holiday home with a fee bikes on the back, a canoe and surf board on top and a boat in the trailer behind it hard to tell the Guard ''I going to buy s few calves''

Yeah I tried a few online quotes for Landcruiser- most didn’t seem to include S D & P - Jeep would also be used for commuting to PAYE job

Bass Reeves · 16-04-2020 11:58am

josephsoap wrote: »

Yeah I tried a few online quotes for Landcruiser- most didn’t seem to include S D & P - Jeep would also be used for commuting to PAYE job

Try Zurich I had it with them for lady 4-5 years. If you are commuting any distance a LC will crucify you. Have you it bought do you need s jeep that big

josephsoap · 16-04-2020 12:32pm

Bass Reeves wrote: »

Try Zurich I had it with them for lady 4-5 years. If you are commuting any distance a LC will crucify you. Have you it bought do you need s jeep that big

Thanks I must give them a try - I work just part time so fuel consumption is not an issue.

Yes have LC a few years now - don’t think I could go back to a car at this stage now

gerryirl · 16-04-2020 5:13pm

Bass Reeves wrote: »

Renewed farm insurance
Stock 80K
two tractors 20K comp, 10K TPFT
House 260K
Contents 80K
Buildings and Bins 110K
2nd house on farm 100K
Contents 20K
Farm wages non family 3K

Total 1500 euro with Zurich with a bit of bargaining. Two years ago I was quoted nearly 2,300 euro by Aviva for the same cover. I left FBD about 8-10 years ago when they were quoting something around present price for less cover.

that seems good price.. what are the stock insured for... can you get theft on them

Bass Reeves · 16-04-2020 8:19pm

gerryirl wrote: »

that seems good price.. what are the stock insured for... can you get theft on them

Yes just about everything that could be taught of Fire, lightening,flood, storm, straying, transit, shows, theft etc.

gerryirl · 17-04-2020 9:00am

Bass Reeves wrote: »

Yes just about everything that could be taught of Fire, lightening,flood, storm, straying, transit, shows, theft etc.

good to know about the theft. I thought FBD were the only ones at it.. I got FBD last year and they wouldnt insure my tools etc in the shed as I wasnt living there .I let it go but as the year went on Im not happy with it at all will be ringing around this year more so

orm0nd · 17-04-2020 9:19am

Bass Reeves wrote: »

Renewed farm insurance
Stock 80K
two tractors 20K comp, 10K TPFT
House 260K
Contents 80K
Buildings and Bins 110K
2nd house on farm 100K
Contents 20K
Farm wages non family 3K

Total 1500 euro with Zurich with a bit of bargaining. Two years ago I was quoted nearly 2,300 euro by Aviva for the same cover. I left FBD about 8-10 years ago when they were quoting something around present price for less cover.

I presume you have the 2 most important cover which any farmer should have and discuss in detail before accepting a policy

Public & Employee Liability,

Bass Reeves · 17-04-2020 9:28am

Hard Knocks wrote: »

Do you find after leaving FBD it’s hard to get w quote now?

Only saw this now. For first few years after I left them and went to Aviva I priced them as they rang me looking for to give me a quote. Generally they were 10-20%more expensive. Fir the last 2-3 I have not bothered with them. This year I got a quote off AXA who were cheaper than my initial Zurich quote. But Zurich beat it. I got a quote for Aviva but they were more expensive.

Last year I looked at the total insurance bill in our house
Farm ins 1500
My Jeep 600
Herself car 550
Daughter car 1k
Son car 1.6k
Health ins for all 3.3k
Life ins 450

That 8.5k that goes out of the house on insurance every year. You have to price it all every year it's a pain but if you do not that bill would be above 10k and maybe 2k above it

Farm insurance

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