Is your fertiliser correctly insured?
The increase in prices of ammonium nitrate, urea, potash and phosphate over the last 12 months is shocking. Coupled with forced earlier deliveries and payment it has created both logistical and cash flow problems for many farmers. Fertiliser costs on a combinable cropping farm for the 2009 season are likely to be well in excess of £100/acre. This could mean in a season like 2008-09 (where early delivery was forced on a lot of growers) that over £100,000 of fertiliser is in store on a 1000 acre farm. Many farmers will forget to ring their insurer/broker and increase the sum insured for fertiliser.
All insurance products used by Farmers & Mercantile give automatic cover on fertiliser, seeds and chemicals up to the total value of crops insured. This is a significant benefit that we have negotiated with insurers for our clients giving much better cover without the need to even think about the insurance cover as it is automatically included at no additional cost.
Contact Farmers and Mercantile, today, on 01604 782 782.
Other Articles: Protecting Contract Farmers from loss of the Single Farm Payment, Why put your eggs (farm insurances) in one basket?, Maximum at risk - what does it mean?, Insurance for farmers - are you protected?, Should large items of machinery automatically incur large insurance premiums?
Farm Insurance: Arable, Farm Diversification, Livestock, Mixed Farm