Property insurance is a key part of Farm Production Insurance. You may insure either movable or real property and animals. Property insurance provides cover, according to your needs, for farm buildings, products, accessories, machinery and equipment.
The insurance does not cover tractors, combine harvesters or other working machines that are moved by their own motor. These are insured separately with Working Machine Insurance.
Comprehensive insurance cover
Property insurance offers comprehensive cover for your farm's property. It cover most and the commonest phenomena that threaten production, such as fire, explosion, electric phenomenon, lightning, theft, vandalism, leakage and storm.
Comprehensive insurance cover also covers other sudden and unforeseeable losses. They may include breakage of movable property, machinery and equipment, or water used for washing being mixed with milk owing to a faulty equipment or improper use.
Extra expenses also covered
Significant extra expenses may occur if your farm's operations have to be continued with temporary arrangements as a result of property losses. Expenses may occur, for example, if you have to rent a building or use a subcontractor when a loss prevents you from using your own building or machine. These extra expenses are also compensated from property insurance.
Property insurance covers environmental damage if they were caused by a coverable property loss, such as a broken oil tank. Environmental damage affecting the soil covers expenses arising from soil examination, cleaning and removal, up to an agreed amount.