Insuring Your Livestock? Work with a Sunshine Coast insurance broker
Sunshine Coast farms need a variety of insurances to cover different areas of operation other than business and property insurance. If your farm is raising livestock e.g. horses, pigs, cattle, sheep, you may have a need to purchase a livestock insurance. While farm insurance includes livestock in its policy, livestock insurance provides a broader cover. Generally, the livestock policy responds to mortality from accident or illness, not just while the animals are in your farm but also during transport.
Coverage of livestock insurance
Livestock insurance can offer some policy extensions to more suit your individual requirements. NB Each insurer’s policy extensions differ and you need read their individual PDS / Policy Wording to know what extension are available.
For example settlement on claims are subject to verification by a registered veterinarian to establish cause of death. Destruction on humane grounds needs to be authorized and performed by a veterinarian.
If you have high-value animals like race horses, registered livestock, or animals at stud, you may wish to extend the policy to cover loss of use (accident and / or illness) unborn foal, inoculation, vendor insurance covers and transit risks.
Recreational animals such as gymkhana may require special cover in place for competitions.
Every insurer’s policy wording of coverage and exclusions may differ so seek advice from your local Sunshine Coast insurance brokers, such as Insuring theProduct for a more-informed decision making.
If your animal is key to your income, you may wish to consider your exposure and the insurance coverage available. For best practice, couple this with good risk management and comprehensive animal husbandry.
Work with a broker
Your expectation of what you want from an insurance policy, may not be covered. So always read the PDS for each policy and for peace of mind, seek the professional advice from qualified insurance brokers, such as Insuring theProduct who proudly serve the Sunshine Coast and can help to find the right policy for your needs.
This information is not intended to be advice and you should not rely on it as a substitute for any form of advice. You should always consider the PDS / Policy wording before making a decision.
Farm Insurance, RespondToDisaster.org
Livestock Management, Agriculture.Vic.Gov.au
CGU Stud Stock insurance information brochure