3 Surprising Things About Livestock Insurance + Tips To Buy
If your business or livelihood is totally dependent upon the livestock then it’s important to ensure their protection. Your livestock is your asset and you can cover their safety by acquiring a livestock insurance policy. This insurance reduces the risk of loss that you may face if anything undesired happens to your farm animals. However, this insurance is not all about saving you from the livestock loss. There are many more aspects that your insurer might not have told you about. Here are all such surprising things about livestock insurance:
It Is Not Only For The Cattles
Whenever someone talks about “farms”, the first two things that come into our mind are the cattle and fields. Similarly, when it’s about livestock insurance, most people think that it’s only for cattle. But no, this is just a myth. Livestock insurance covers most of the domestic animals that are used on a farm. Mostly these include cows, cattle, sheep, swine, donkeys, goats, horses, and even alpacas. So, if you are avoiding this insurance thinking that it does not cover your animals then think again.
Standard Farm Policy Is Not Same As The Livestock Insurance Policy
This is another big misunderstanding about the livestock insurance policy. People compare it with the standard farm policy. But both of them are completely different things. Many standard farm insurers provide the facility of livestock collision endorsement, guaranteeing that it covers the livestock. Yes, it does but not like livestock insurance. Standard farm insurance will pay you only if your animals got hit by a vehicle on a public road. On the other hand, a livestock insurance policy offers you a much wider coverage for your animals. You are intelligent enough to judge which one is better.
Livestock Insurance Policy Covers Livestock Individually And In A Herd, Too
Livestock insurance provides you with a facility to cover your animals according to your choice. You can cover them as a herd or also individually. However, when you are selecting the coverage option, make sure you pick it after thorough research about the market value of your livestock. If in the market, the price of your livestock is higher in the herd then insuring it, in the same way, would be best for you.
Tips For Choosing A Perfect Livestock Insurance Company
There are thousands of companies that provide livestock insurance in Australia. But among so many providers it’s difficult to choose the perfect one. Here are some tips that will help you to pick the most appropriate livestock insurer:
- Check the reviews of the website to know if they are genuine or not. Proceed further only if they have a large number of satisfied customers.
- Don’t forget about the after customer services. If they are loyal to their old customers they are worth being trusted.
- You can ask some of your farmer friends or business friends about the insurance company they are dealing with. Their experiences can help you a lot.
Whether you are looking for livestock insurance Australia, make sure you follow these tips to get a good insurer.
These were the top three surprising things about a livestock insurance policy. If you like reading this blog, then share it with your friends involved in the livestock business.