Professional services Take stock during winter or risk
financial losses, says expert • Farm assets oſt en underestimated • Criminals target one in three farms • Make sure claims cover all losses
G
rowers and livestock pro- ducers are being urged to take stock of their as- sets this winter – or risk losing thousands of pounds on insur- ance claims. With two thirds of farmers fall- ing victim to crime over the past 12 months, many producers are risking signifi cant shortfalls in the event of theft and fi re claims because they are underestimat- ing the value of their property, says Will Kendrick (pictured be- low), of Farmers and Mercantile insurance brokers.
While the biggest proportion of criminal activity was fl y-tipping, incidents involving fi nancial loss – including theft, criminal dam- age, vandalism and arson – were among the top crimes committed against farmers.
Financially vulnerable Farmers
should re-evaluate
the value of their farm contents or run the risk of being underin- sured – particularly as new ma- chinery and grain or potato stores will have driven up the value of building contents, says Mr Ken- drick. “We see time and time again cases of farmers having low sums insured for their farm contents, which includes tools, workshop machinery, hay,
straw, fertil- iser, sprays, diesel, oil – literally
everything in a farmyard. “Unfortunately, it is often the case that farmers only discov- er that they are underinsured when they come to make a claim, as they start to work out exactly what they have and what is miss- ing or damaged.
“Rural crime is a signifi cant
problem, impacting the majority of farming businesses, so it would be remiss of farmers not to protect themselves adequately – particu- larly at a time when many farm- ers are fi nancially vulnerable, due to ongoing economic uncertainty.”
Farmers at risk Mr Kendrick says it is especially important for arable farmers to give an accurate estimate of the value of farm buildings, new ma- chinery and in-store crops. Other valuable commodities often over- looked by farmers include oil, die- sel, tools and animal feed. “These are attractive targets for thieves and should be subject to the appropriate level of cover. As well as doing an inventory of contents, checking the sums in- sured and updating your insurer of any shortfall, winter is a good time to think about farm security.” Similarly, Farmers & Mercan- tile warns that livestock farmers may have gaps in their insurance by opting to cover the value of only a proportion of their livestock in a bid to ease the fi nancial pres- sures they face.
Standard farm policies will of- ten include exclusions making it vital to check policy wording care- fully. Cover for theft, for exam- ple, will sometimes be an option- al policy extension, but inclusion of this clause for an additional cost can end up saving thousands of pounds.
Crime survey
The National Ru- ral Crime Survey found that 39% of ‘rural-specifi c’
62 ANGLIA FARMER • DECEMBER 2019
Keeping farm property and contents secure isn’t always easy
“
Oſt en farmers only fi nd out they are underinsured when they make a claim.
business owners are more wor- ried about crime than they were fi ve years ago. Some 60% said they were fairly worried or very worried about becoming a victim of crime in the future. More than half of farmers said they were fi nancially impacted by crime, at an average cost of £4,800 – a 13% increase on 2015. After falling victim to a crime, 38% said
they were more determined to pro- tect themselves and their property but only 28% made a claim. “The longer, darker nights give
thieves, vandals and arsonists the perfect cover to operate so taking extra precautions will help lower the risk of being targeted – and can even lead to lower insurance pre- miums,” said Mr Kendrick. “Keep machinery and vehicles in securely locked sheds and con- sider installing security cameras, alarms, light sensors and securi- ty signage. Immobilise farm ma- chinery, where possible, ensure nothing is on display in the cab and always keep the keys in a se- cure location.”
Thieves target metal and diesel fuel
“Metal-stripping is becoming an increasingly popular crime, with tools, building materials, machine parts and cabling all key targets,” says Will Kendrick of Farmers and Mercantile. “Consider replacing copper and lead with artifi cial lead, which is less costly to replace, or mark the metal with tam- per-proof stickers and use an- ti-climb paint.
“Ensure the perimeters are
well maintained and restrict access to the yard with locked
gates and security barriers and consider signing up to Farm, Country and Neighbourhood Watch schemes.
“Criminals generally tar- get isolated areas, so these networks become the eyes and ears of the countryside, helping to combat rural crime.” Diesel is a valuable commod- ity so ensure that tractors are locked up at night, to prevent thieves siphoning fuel, and con- sider fi tting fuel bowsers with wheel clamps or hitch locks.
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