Why hail damage insurance is vital to UK farming

Since Britain made the decision to leave the European Union, the cost of imported goods has risen, while commodity prices have fallen. And in few industries is this more apparent than farming, which is seeing crop revenue squeezed. Of course, this is on top of the risks already faced by growing crops in a largely unpredictable climate. When discussing the impact of weather on farming, most people’s minds automatically leap to the British Summer Time, or lack thereof, which means there isn’t enough sunshine to ripen crops. And then there are the late snows, which seem to appear out of nowhere, right up until April. But there’s one weather system that gets overlooked because it’s over and done within seconds – and that’s hail. With peak storm season sitting between May and September, hail is destructive and damaging but tends to be forgotten, especially by those outside the industry. A case in point, in July 2016, Farmers Weekly reported on a hailstorm in Huntingdon, Cambridgeshire, which destroyed up to 50% of the area’s oilseed rape crop in a matter of minutes. With the widespread damage caused by hail, it is surprising that more people are unaware that insurance exists to protect them against damage to growing crops. It is normally arranged in addition to a normal farm policy but not all farmers know this cover is available. The policy has a number of benefits and conditions

• Cover available for a wide variety of crops

• Annual policies available

• Prices based on crop type, acreage and yield

• Option to buy in areas prone to hail storms

• Available as an add-on to other farm insurance

It’s important to note that claims must be reported according to strict guidelines, usually within 48 hours, and may have a 14-day deferment period for new policies. Any good insurance expert will take the time to evaluate a farm’s operations and the associated risks before proposing solutions that protect against these risks. Hail insurance is an area that is often missed by inexperienced insurance professionals, so it is essential to seek advice and guidance from an expert who can analyse your requirements for farming insurance from hail insurance right through to risk management. Alan Boswell Group has been supporting farmers for many years. With our unique scheme and in-house underwriting team, along with risk management and claims divisions, we have the experience and expertise to help keep your business on track for years to come.