8 ways to get more from your farm insurance

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  1. Obtain more than one quote and compare more than just the price. It’s what you get for your premium that’s important.
  2. Have a professional explain what cover options are available in the market place, not just from your current insurer.
  3. Seek out an Insurance Broker to work on your behalf, to ensure you get your full entitlements when claims arise.
  4. Meet with your insurance provider to review and amend your policy at least once a year.
  5. Ask what discounts are available and how to access them.
  6. Don’t skimp on cover, research the replacement value of your assets and get them covered correctly before you need to claim.
  7. Perform a risk analysis of your business to find out where you are most vulnerable and take action to minimise those risks.
  8. Safeguard you and your business with important insurance covers such as Farm Continuation Expenses, Personal Accident & Illness and Farm Management Liability.

How an Insurance Broker can help you…

By sourcing a number of quotes from reputable insurers and comparing covers. Insurance Brokers have access to industry specific policies not available to the wider market

They fully explain what cover options are available and make recommendations.

When claims arise Insurance Brokers come to the fore by providing advice and expertise in the process of settling claims and negotiating payouts with insurers.

As Insurance Brokers they work alongside their clients, reviewing, advising and amending the policy, ensuring that you continue to hold the right cover, now and into the future.

They ensure you don’t pay more than you have to by sourcing any discount options available from the insurers.

Insurance Brokers assist clients with reference material, guides and/or online calculators to help establish values for insurance purposes.

They can help clients to identify risks, provide advice on how to minimise or control those risk, which in turn may result in fewer claims and lower premiums

Why should you use an insurance broker?

The role of an insurance broker is to serve their client, by sourcing, advising, placing and maintaining policies on their clients behalf and to manage the claim process. Other parties associated with insurance products, such as insurers or insurance agents are commonly working for the insurance companies when transacting their business. An insurance broker has access to a wide range of insurers and is able to compare costs and covers from the wider market whilst giving their client one reference point to answer queries and manage their cover.

For more information go to www.mga.com

Article kindly provided by MGA Insurance.

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