Farm Truck Insurance
Farm truck insurance is one of the more complex group of vehicle-based insurance policies. In some cases policies are legally mandatory, such as third party, but with so many things that can go wrong with disparate equipment, a carefully cultivated group of policies is essential.
What You Need to Know About Farm Truck Insurance
Farm truck insurance has many features and needs that will differ wildly depending on the farm itself and the day-to-day processes that involve the vehicle or vehicles. Due to the fact that many other types of vehicle might be used in the running of a farm, such as tractors or combine harvesters, the policy may or may not need to cover use on British roads and even include a car or multiple cars. This can make finding a policy quite complex.
Another issue that farmers need to think about when seeking insurance is the risks involved with under insurance. Unlike some businesses, who may lose money while a vehicle is out of order, for farmers this can lead to the mass loss of crops or the ability to deliver produce in a timely manner, which can in and of itself be disastrous. For all these reasons a comprehensive policy or group of policies is paramount.
Notable Features of Farm Truck Insurance
Aside from the notable issues that are inherent to the farming sector regarding truck insurance, many of the broad polices are still relevant and it is only in the details of the specific policies that it can become complex. These include:
Employers’ Liability Insurance
If you run a busy farm that employs any number of workers, you will need employers’ liability insurance by law. This type of cover protects your employees against the costs associated with claims. Operating farm trucks can be dangerous, with intricate machinery having the potential to cause serious injury. This type of liability insurance is imperative if you are to run your farm smoothly and with peace of mind.
Multi-Vehicle Cover
Unlike fleet insurance, which is commonplace for sectors with more than one truck on the road, Multi-vehicle insurance can cover the wide range of vehicles that are employed in the day-to-day running of a farm. As each vehicle can face vastly different risks, such as damage to complex equipment like combine harvesters, the wear and tear associated with tractors and the general needs of road vehicles such as cars and trucks, this feature can combine various issues under one, bespoke policy.
Third Party Only (TPO)
This is the bare legal minimum insurance you need to have with any motorised vehicle that runs on UK roads. It covers the repair costs associated with third party vehicles if you are in an accident. However, it will not cover the cost of repairs to your own vehicle which will need to be paid out of your own pocket in the event of an accident. It highly recommended, therefore, that you opt for a comprehensive policy that comprises many elements.
Breakdown Cover
If you are transporting stock from one area to another, or you simply need to traverse public roads as part of your daily job, a breakdown can leave you stressed and out of pocket. With such specialist vehicles, not just any roadside assistance will do. Having breakdown cover as part of your overarching farm truck insurance policy is the best way to ensure you will be able to get back on the road as soon as possible.