Agricultural Vehicle Insurance

Physical damage or financial loss suffered by the insured.

If an insurer determines that they cannot provide coverage for your business for any reason, this is referred to as a declined risk.

The deductible or excess is the amount which must be exceeded to enable a claim to be made. Only the amount over and above the deductible can be claimed.

Work that has not been completed properly or does not meet a satisfactory standard.

The portion of a premium that, after reaching an agreement with underwriters, is payable in instalments, typically on a quarterly or half yearly basis.

Often referred to as the ‘meaning of defined terms,’ this section describes the meaning of important terms, allowing you to refer back for clarification whenever these terms are mentioned later in the document.

When damage or an incident nearby impedes access to your premises, which may impact your business.

Depreciation refers to a deduction for the wear and tear of your belongings. Although most policies now settle claims on a reinstatement or ‘new for old’ basis, there are still some policies which will make a deduction for certain items based on their age.

This type of coverage is commonly referred to as management liability insurance, or simply D&O insurance. Its purpose is to help safeguard business owners against claims of wrongful acts and the inherent risks of operating a business. It is accessible to companies of all sizes, ranging from small startups to large organisations.