Insurance of premises

Insurance of premises

On the base of our experience the most of insurance companies treat their agricultural customers as stepchildren, the property-type insurances developed for them are not updated and exclude a significant part of the relevant risks. In fact, this is like trying to use the dumbed down industrial property insurance solutions for agricultural customers. As far as such approach is concerned this leads to shortcomings that in many cases make it impossible to cover actual hazards on a contractual basis often resulting significant surcharges.

Recognizing this gap our goal was to develop and to function risk management systems that provide a real solution for operators in the sector.

In contrast to the widely used property insurance contracts for specific risks (which only cover cases that are named on the policy or the offer – usually fire and elemental damage), our insurance partners develop all risk offers for our clients, the logic of which is exactly the opposite, i.e.apart of  the named exclusions, it reimburses all the damages – that is, the protection they guarantee is much more reassuring.

We consider it important that our insurance contracts take into account inventory fluctuations due to the nature and annual cyclicality of the activity, ie our customers do not have to pay insurance premiums all  year round for inventory values ​​occurring only during a fraction of the year in the granaries and at the same time the contracts guarantee the  insurance coverage for the harvested products (including, but not limited to, damages resulting from possible soaking). The protection of open-air stocks (typically hay and straw) should be also a subject of insurance with consideration of their location inside or outside the site and their distance from the buildings inside the site.

 

It is an important circumstance that we should know and ensure the dangers of operating drying equipment, which is one of the most significant valued asset ​​found on agricultural sites. Numerous of our clients contacted us asking for a revision of their insurance contracts. A significant part of them had an agreement in which the insurer named the dryer and even asked for an insurance fee (and not a low one due to the high value, of course) but the most risky factor, fire coverage was  excluded.It was realized by our clients only after we finished our revision job and highlighted it that satisfied and reassured them through understanding  that this risk is also addressed in the contract we are proposing.

 

In many places we come across the owned petrol station facing often – although in our experience it is more relevant in the case of older equipment – the repair of its machinery done by the companies themselves, therefore we make agreements with both in mind.

It is a sad experience that one of the most vulnerable sectors of the economy in terms of work accidents is agriculture, so it is important that contracts should not only include employer liability insurance, but be able to provide effective security through carefully defined compensation limits.

Many of our clients deal with rentals of storage spaces, rental drying that means also a need to deal with the dangers lurking during these activities as well as any damage to adjacent territories during the use of chemicals.