Livestock insurance is an insurance product that the majority of farmers in the livestock industry have either never considered or mistakenly assumed that it’s not necessary to insure.
Transporting livestock is an activity that carries significant risks due to unpredictable circumstances. Every time you take your livestock out on the road, you are exposing a large portion of your assets to the dangers of the road.
Therefore, a sustainable livestock insurance is a necessity. This coverage helps to protect your investment in the event of an accident, damage, or loss that can decimate your animals and your business.
Learn how EWIB can help you
We believe that you and your livestock are important to the continued success of your business. The main point for farmers is to secure and keep their business going despite when an animal is lost and the cost incurred behind it. Farmers value their livestock, and if something unexpected happens when they least expect it, even when just one is lost – the after result can be a devastating blow.
With livestock insurance, this policy helps to eliminate your worries and allows you to focus and continue doing your best in your business. When farmers insure their livestock, they are assured of their animals safety throughout at any given season of the year.
Our brokers have the experience to guide you through the options of livestock insurance and help you find the best solution for your situation.
Why Is Livestock Insurance Important?
Unlike many of the risks related to the livestock business, an accident that occurs while transporting livestock can easily eliminate all the livestock involved, dealing a catastrophic blow to the transport company or livestock owner.
An example of a claim on how livestock insurance can be beneficial took place when one of our client’s animal had an accident and was decimated. Our client had an emotional toll because of this but more crucially; the financial damage was heavily involved too. Fortunately for our client, he could continue paying his on-going expenses for himself and getting back the reimbursed amount of his insured livestock.
Just imagine the amount of losses that could have happened if more than one animal was decimated at the same time and our client was not insured against this event? These risks and losses could have led to a serious downfall and cause a stir in his financial income. If this was to continue over time, our client could have faced persistent financial hardship.
Livestock insurance plays a vital role in ensuring your peace of mind by keeping your farm or agribusiness successful for the long haul.