Livestock farmers spend a lot of time and money on the purchase and management of their animals. Unexpected loss or death of livestock can be stressful and put them in financial trouble. Livestock insurance protects against such scenarios, providing peace of mind for farmers and ranchers by financially protecting their investment and livelihood.
At Fitton Insurance, we’re the insurance brokers Toowoomba farmers count on for comprehensive coverage. We also provide stud cattle and bull insurance to farming businesses throughout Australia. Below, we explore the importance of livestock insurance and what it can cover.
Cattle Insurance Coverage
Cattle insurance policies cover cows, bulls and calves, typically insuring for their current market price. The exact coverage and terms of the policy will depend on the specific insurance company and policy purchased. At Fitton Insurance, we offer policies that cover against:
- Death due to an accident
- Death due to an illness or disease
- Theft of the animal
- Loss of use due to an accident
- Loss of use due to an illness
Many policies will protect against natural disasters such as fire, storms, flood and drought as well as accidents like snake bites, drownings, falls and other unforeseen circumstances.
What isn’t Included?
While some insurance policies may protect against straying or missing cattle, most do not. Wilful injury or neglect also isn’t covered. This includes overloading, malicious damage, failure to treat sick animals and injury or death caused by the use of animals outside of typical livestock-rearing activities. Intentional slaughtering or killing without permission from veterinary or government officials also isn’t covered by cattle and bull insurance policies.
Why Livestock Insurance is Important
Livestock farming is an industry where the risk of stock loss is always a threat, with potentially devastating results. Outbreaks of diseases such as lumpy skin, foot and mouth disease, bluetongue and brucellosis have caused billions of dollars of loss across the Australian cattle industry in the past. Insurance provides financial security for farmers and their stakeholders, reducing the impact of death and stock loss from unforeseen disasters.
Livestock Insurance Brokers Toowoomba Farmers Trust
As a licensed general insurance brokerage, Fitton Insurance can help farmers find the ideal insurance to protect their livestock. Get in touch with our team to chat about the different policies available in Australia. Call us today on 1800 076 277.