Increasing Insurance Costs For Farm Contractors | Farm Insurance
Farm Contractors could be facing another problem as some quotes for machinery insurance have increased by up to 30%. This is according to an agri-contractor group Farm Contractors Ireland.
Although agri-related injury claims remain consistently low, small, medium and large-scale contractors have been lumped with increasing premiums over the last three years. While we have no evidence or information to support this. Common sense would suggest that most claims would be property damage and not liability claims. This could account for the increase.
The IFA said moves towards greater transparency on claims data and more sharing of information on awards is "very positive".
The Personal Injuries Board says that
scarcely more than a handful of ag-related claims every year. In order for someone to make a claim, there has to be someone else who is liable. If there was an accident on a farm, in most cases, the person who sustained the injury would also be the owner-occupier of the farm so therefore they wouldn't be in a position to make a claim.
The ICMSA President John Comer is "very concerned" at the increasing cost of farm and other insurance, and wants the Government to look at the causes.
In the meantime, farm families are urged to break old habits and consider getting quotes from other insurers and brokers
Fears are growing over the rising cost of farm insurance in general.
The main insurers in agriculture are FBD, Aviva and Zurich.
For your Farm Insurance review call Anita Halpenny on 041 68 58 400.