High quality steel framed buildings supplied nationwide

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Steel framed agricultural building built by Fowler and Gilbert

How to keep your insurances up to date

With the costs of labour and materials rocketing throughout 2022 caused by supply and demand causing such a significant inflation, now is the time to review your policies to ensure everything is up to date.

Inaccurate insurance with out-of-date figures will leave you out of pocket or with a rejected claim.

The onus falls to the policyholder to ensure all figures and information are correct. Farmers work so hard for their money; it could be catastrophic if when a claim may be needed that they were benefiting from the incorrect sums.

Changes may include but not be limited to:

  • Vacant buildings – buildings which are left unoccupied are more likely to be broken in to or vandalised. Vacant buildings may be charged higher premiums, or even reluctant to provide cover.
  • Building works – you will need to update your insurer on any building works completed on the building alongside a revised valuation where necessary.
  • Improvements – Ensure you have sufficient cover in place if you are making any alterations, extensions, or refurbishments. Ensure that they won’t invalidate your policy.
  • Change of use – if you are planning in changing your building for example from agricultural use to commercial use, you must inform your insurer of any diversification. Making sure your building is fit for purpose and meets any regulations that may be required by building regulations.

To get a rebuild value of your buildings so you can update your policy, you can arrange for an expert to come and assess or speak to one of the team at Fowler & Gilbert. We can offer a guide price based on a like-for-like replacement.

Set a reminder to oversee your policies throughout the year as opposed to awaiting until your renewal. Changes mid-way through a policy may incur additional charges, however, the rewards are there to be repaid if you need to claim.