Katie Daly
Updated on: October 10, 2024 5:11 am GMT
Farmers Urged to Secure Adequate Insurance for Prize Animals Ahead of Westmorland Show
As the Westmorland Show approaches, an agricultural risk expert is emphasizing the importance of proper insurance coverage for pedigree breeding animals. With the event scheduled for September 11 and 12, farmers are being warned that their prized livestock may require special attention from insurers to fully protect their investments.
Understanding the Risks of Underinsurance
Rupert Wailes-Fairbairn, a representative from rural insurance broker Lycetts, highlights that many farm combined insurance policies have a standard limit of £10,000 per animal. However, the value of prize animals can significantly exceed this threshold, particularly if they achieve accolades at the upcoming shows. “If your livestock wins titles this year, their worth could rise even further,” Wailes-Fairbairn cautioned.
Farmers are encouraged to notify their insurers of any new valuations to ensure comprehensive coverage in case of injury or theft. “It’s essential to keep your livestock policy updated,” he added, stressing that failure to do so could result in a financial shortfall when it’s needed most.
Transit Coverage Considerations
Another vital aspect for farmers to examine is their policy’s coverage during transit. Many policies may only consider a lower value for livestock while in transport, typically calculated on commercial animals. For example, if a farmer’s policy values only £4,000 for livestock transit, but they are transporting two prize-winning animals worth £10,000 each, the total exposed value could reach £20,000.
Properly understanding the limits of insurance when moving livestock can prevent significant losses. Farmers are advised to carefully review their insurance policies and to consider adjustments based on the actual worth of the animals being exhibited.
Essential Liability Coverage at Shows
In addition to ensuring insurance coverage for livestock, farmers must also pay close attention to their public liability coverage. Events such as the Westmorland Show can present unexpected situations where livestock may behave unpredictably. Wailes-Fairbairn noted potential liabilities if a bull or cow were to escape and cause damage or injury. “A watertight public liability policy will be crucial,” he stated.
Many farms still operate with liability limits of £5 million; however, experts recommend an indemnity limit of at least £10 million to adequately cover potential incidents. This disparity could expose farmers to significant financial risks should the worst occur at a show.
Mortality Insurance and Broader Coverage
When it comes to particularly valuable animals, seeking insurance on a full mortality basis is advisable. This type of coverage offers wider protection compared to standard herd coverage found in typical farm insurance policies. Farmers with prized pedigree livestock are encouraged to consult with their insurers or brokers to evaluate their current policies and discuss potential top-up options.
“Before heading to a show, farmers should assess their coverage comprehensively,” Wailes-Fairbairn recommended, ensuring they have the necessary protections in place well ahead of the event.
Lindeth Howe Hotel to Showcase Attractions at Westmorland Show
Alongside the agricultural preparations, the historic Lindeth Howe Hotel will feature at the Westmorland Show, enticing visitors with unique attractions. Once a holiday home of famed author Beatrix Potter, the hotel will set up at Stand E187, conveniently located opposite the Women’s Institute Tent.
Visitors can indulge in homemade refreshments, including shortbread and flapjacks, while learning about special offers available on-site. Gift vouchers redeemable for the hotel’s renowned dinners and cream teas will be valid for six months, allowing guests to enjoy the culinary delights at their convenience.
Special Events at Lindeth Howe
The Lindeth Howe Hotel will also showcase a range of upcoming events, attracting both locals and visitors. Promotions will include Murder Mystery Nights planned for the fall months of September, October, and November, as well as a seasonal Christmas Market and a reading of “A Christmas Carol” scheduled for December. These events are designed to engage the community and offer memorable experiences during the holiday season.
The Historical Significance of Lindeth Howe
Lindeth Howe has a rich history, serving as a backdrop for the early life of Beatrix Potter. From 1902 to 1913, Potter penned some of her most beloved children’s tales, illustrating two of them, “Timmy Tiptoes” and “Pigling Bland,” while staying at the hotel. This historic connection adds an intriguing layer to the Westmorland Show experience, intertwining agriculture with literary heritage.
As the big event gets closer, farmers need to make sure they have enough insurance. At the same time, people coming to the show should stop by the Lindeth Howe stand to learn more about what they offer and what fun activities they have planned. With good planning and protection, both the farmers and the Lindeth Howe Hotel are excited for a great time at this year’s Westmorland Show!
