FARMERS should take stock of what is on their farm this winter – or face losing thousands of pounds in the event of theft and fire insurance claims.

Speaking from Farmers and Mercantile Insurance Brokers, Will Kendrick warned that farmers were risking 'significant shortfalls' in insurance pay-outs due to underestimating the value of farm contents.

According to the latest National Rural Crime Survey, more than two thirds (69%) of farmers and ‘rural-specific’ business owners fell victim to a crime over a 12-month period. Whilst the biggest proportion of this criminal activity was flytipping, incidents involving financial loss, such as theft and criminal damage, including vandalism and arson, were also among the top crimes committed against farmers.

With the harvest season over, Mr Kendrick suggested that now was the time for farmers to re-evaluate the value of farm contents or run the risk of being underinsured, particularly as new machinery and grain or potatoes in stores will have driven up the value of building contents.

“We see time and time again cases of farmers having low sums insured for their farm contents, which includes tools, workshop machinery, hay, straw, fertiliser, sprays, diesel, oil – literally everything in a farmyard," said Mr Kendrick. “Unfortunately, it is often the case that farmers only discover that they are underinsured when they come to make a claim, as they start to work out exactly what they have and what is missing or damaged.

“Rural crime is a significant problem, impacting the majority of farming businesses, so it would be remiss of farmers not to protect themselves adequately – particularly at a time when many farmers are financially vulnerable, due to ongoing economic uncertainty.

“As the busy harvest season has now come to a close, farmers will have more time on their hands to take proper stock of the value of all contents on their farm. It is especially important for arable farmers, who have bought new machinery for this year’s harvest or keeping their crops in store in preparation for a good sale in spring, to give an accurate estimate of the value of their farm buildings’ contents to their insurers," he said.

“Other valuable commodities, such as oil, diesel, tools, and animal feed, are often overlooked by farmers but these are attractive targets for thieves and should be subject to the appropriate level of cover.”

The National Rural Crime Survey found that 39% of ‘rural-specific’ business owners, mostly made up of farmers, are more worried about crime than they were five years ago and 60% were fairly or very worried about becoming a victim of crime in the future. More than half of farmers and ‘rural-specific’ business owners were financially impacted by crime, at an average cost of £4800 – 13% up on 2015 – but only 28% made a claim.

“As well as doing an inventory of contents, checking the sums insured and updating your insurer of any shortfall, winter is a good time to think about farm security,” he added. “The longer, darker nights give thieves, vandals and arsonists the perfect cover to operate so taking extra precautions will help lower the risk of being targeted – and can even lead to lower insurance premiums. Keep machinery and vehicles in securely locked sheds and consider installing security cameras, alarms, light sensors and security signage. Immobilise farm machinery, where possible, ensure nothing is on display in the cab and always keep the keys in a secure location.

“Diesel is a valuable commodity so ensure that tractors are locked up at night, to prevent thieves siphoning fuel, and consider fitting fuel bowsers with wheel clamps or hitch locks. Metal-stripping is becoming increasingly popular crime, with tools, building materials, machine parts and cabling all key targets. Consider replacing copper and lead with artificial lead, which is less costly to replace, or mark the metal with tamper-proof stickers and use anti-climb paint.

“Ensure the perimeters are well maintained and restrict access to the yard with locked gates and security barriers and consider signing up to Farm, Country and Neighbourhood Watch schemes. Criminals generally target isolated areas, so these networks become the eyes and ears of the countryside, helping to combat rural crime.”