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Adequate Sums Insured | Farming and Agriculture

16 March 2022

It’s crucial to always ensure that your covers and sums insured are adequate, and this is particularly true for those working in farming and agriculture. 

Due to several global factors, the UK is currently experiencing unprecedented increases in many commodities in the farming sector such as fertilizer, fuel and wheat futures. There is also a possible increased theft exposure as both fuel and fertilizer become more scarce and more valuable. As a result of these factors, there is potential that if you're operating in farming and agriculture you may not have sufficient cover within your current insurance policy.


What Areas Are of Concern?


Areas of particular concern are:

•    Cover for diesel and tanks where the cost of fuel has doubled per litre in the last fortnight.
•    Produce & Deadstock/ Fertiliser as the cover on this section is based on current market value which has tripled since the last harvest.
•    Cover of loss of income from harvested grain, where the market value is currently forecast at 50% higher than 2021 harvest
•    Goods in Transit & Haulage cover for those that are transporting the above. Where the load limit may need to be increased to reflect the true/ current value of your trailer contents.
•    Costs of replacing Farm Buildings because of damage by an insured peril have increased by more than the insurance standard index-linking.


Get in Touch


Please ensure that your covers and sums insured are up to date and adequate.

If you wish to discuss your policy covers or make amendments, please contact your usual Bruce Stevenson representative. Or drop us a message if you wish to discuss your insurance requirements.


 Jean Arnott-Glennie - Farms & Estates Account Executive at Bruce Stevenson Insurance Brokers



Jean Arnott-Glennie

Farms & Estates Account Executive

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