Page 13 - Beef_Week

Stock Journal Beef Week | 2021
Insuring beef cattle in Australia

HE beef cattle industry • Loss of use due to an Other covers that may • Theft of livestock up to
makes an important illness (bulls) be needed, such as transit an agreed sum insured
Tcontribution to the insurance, that can either (this may be less than
Australian economy. This type of cover may be added to an existing your total livestock sum
In 2015–16 it accounted also include: farm policy or taken as a insured).
for about 23 per cent • Automatic cover, right separate cover, may be • Destruction, certifi ed
($13.1 billion) of the from the fall of the more extensive than that by a veterinarian,
total gross value of farm hammer at sales provided under the stud for humane reasons,
production and 22pc of the • Insured agreed value livestock policies. following an insured
total value of farm export right from the fall of the The alternative to the event (eg: fi re),
hammer at sales
income. stud stock cover (above)
About 57pc of all • Cover from private sales or in addition, to cover Some of the better
Australian farms carry • Death due to destruction the entire herd is the policies will automatically
increase the insured sum
on humane grounds
beef cattle. livestock cover provided
It’s an industry that • Death caused by under most farm insurance insured by 30pc during the
requires specifi c insurance accident during policies. This section of three months of high fi re
transportation
danger, at no extra cost.
covers to enhance the the farm policy may be
It is wise to check
prospects of maintaining a Exclusions can apply able to extend to also insurance cover for public
profi table business. and may include (but not cover your working dogs liability, to ensure that
There are generally two limited to): for specifi c events.
types of insurance cover • Genetic infertility Each policy will vary you (the owner of the
livestock) are covered
that can be obtained for • Veterinary costs or in both their cover and should the stock escape
your cattle, one being a surgical costs, unless exclusions but in general and become involved in a
stud stock policy that can agreed upon with you should look for a collision.
enable you to cover your the insurer and the policy that covers: It’s best to speak to your
stud bulls and heifers procedure performed to • Death of livestock local insurance broker,
against: preserve the life of the caused by fi re, lightning, who will be able to search
• Death due to an accident animal. explosion, earthquake or the marketplace for the
• Death due to an illness • Certain causes of death, malicious damage insurance covers that suit
or disease including such things as • Death of livestock your requirements.
• Loss of use due to an Foot and Mouth disease caused by impact by any
accident (bulls) or Footrot to name a few. vehicle or aircraft • Visit www.mga.com
UNIVERSAL

SALIVA LICK

FEEDERS

CATTLE

SHEEP

PIG FEEDERS

UNIVERSAL TRAILERS
MULTI - PURPOSE

BUILD TO LAST
0499 555 355

admin@utfa.com.au
www.universalfeeders.com.au
www.universaltrailers.com.au VR4652418

13