Anyone know about IRL costs of farm insurance?

GrimHuffer
Posts: 126
Joined: Thu Sep 02, 2021 7:53 pm
Location: Scotland

Anyone know about IRL costs of farm insurance?

Post by GrimHuffer »

Hey,

Does anyone know how much real life insurance (for machines, implements, buildings, animals...everything really!) costs? Clearly it will depend on how expensive, large, numerous etc things are but even just a rough figure, or some examples I can work from.

I'm trying to add a sort of 'tax' (think what the Government Subsidy mod does, but in reverse, so it deducts money rather than adding it). There doesn't seem to be much cost information online (which isn't surprising given the number of variables involved). Some examples I have seen are given as cost per thousand insured (e.g. £6 per £1000 insured for the year, thus a £200,000 tractor would cost £1,200 a year) but I'm not sure how accurate that is (price seems fair to me though).

I can work out the total cost across the whole farm then divide this by the number of in game days per year, then by 24 (for hours in that day), giving me an hourly figure I can use to work out my 'tax' rate.

Anyone run, live or work on a farm that can share some costs?
Machinesloth
Posts: 11
Joined: Fri Jan 27, 2023 9:49 pm

Re: Anyone know about IRL costs of farm insurance?

Post by Machinesloth »

Honestly, if you have expensive equipment, the shortness of time in which they detoriate could be interpreted as a tax itself.
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UncleRico
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Joined: Mon Sep 19, 2022 4:25 pm

Re: Anyone know about IRL costs of farm insurance?

Post by UncleRico »

rafaelrobertson wrote: Fri Mar 03, 2023 11:20 pm We have farm insurance due for renewal at the weekend. I want to make some changes to the policy. I have it through a broker and in the past a specific person was assigned to our policy and that person was always very efficient and very easy to deal with.

It appears that the office that we used to deal with has now closed and we have been assigned a new person in a different office on the other side of the country under the same broker name. I called 10 days ago and gave the details of the policy changes that I wanted to be quoted for. Was told no problem, we have a specialist here who will get a price and we will get back to you this afternoon.

I called again 5 days ago to say that nobody has gotten back to me yet and the assigned person didn't remember or have a record of what changes I wanted, so took them again and promised that the specialist would have a price for me that afternoon. Maybe that's when I should have stopped.

But I called again this morning. Assigned person pretended to know what I wanted but I had to reconfirm details for the new quote.

I'm planning on getting some more quotes this afternoon from different places. Can I go to the insurance company directly (axa) that I was insured with through this broker? I'm sick of the broker at this stage. If they wanted my money, the least they could do is get back to me.
You may want to reassess where you posted this. This is a forum for a farming simulator video game on a thread from two years ago. Your insurance agent likely won’t see this and get back to you.
Illinois Farmer
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Joined: Tue Jul 16, 2019 7:34 pm

Re: Anyone know about IRL costs of farm insurance?

Post by Illinois Farmer »

Most farms have an umbrella type insurance along with insurance for the crops. Usually that has two types wind and hail. Each one of those for me, with 1300 acres is about 4-6 grand each, and for each my dad, myself, and dad. Now for the umbrella policy, that covers all our buildings as well, so about 10-15 grand a year for each person.
1300 acre farm, finish out just about 10,000 hogs a year, 200 cattle, and xbox one and pc user.
MK_McD
Posts: 93
Joined: Tue Aug 25, 2020 3:17 pm

Re: Anyone know about IRL costs of farm insurance?

Post by MK_McD »

UncleRico wrote: Sat Mar 04, 2023 12:02 am You may want to reassess where you posted this. This is a forum for a farming simulator video game on a thread from two years ago. Your insurance agent likely won’t see this and get back to you.
They had to get their spam link posted somehow.
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UncleRico
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Joined: Mon Sep 19, 2022 4:25 pm

Re: Anyone know about IRL costs of farm insurance?

Post by UncleRico »

MK_McD wrote: Fri Mar 10, 2023 6:35 pm They had to get their spam link posted somehow.
Dirty dog edited the link in several days later, that’s a new tactic
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