Largest apiary insurance claim

Largest apiary insurance claim surprising

WHETHER IT’S YOUR HOBBY, MAIN SOURCE OF INCOME, OR IF YOU’RE LOOKING TO DIVERSIFY YOUR INCOME STREAM, APICULTURE COMES WITH ITS OWN SET OF RISKS.

WORDS SUPPLIED BY FMG INSURANCE

The largest claims’ value from apiary clients may not be what you first think, says rural insurer FMG. While beehive theft, beehives damaged in transit, storms and flooding are common claims, it’s off-road driving accidents that top the list. Over the past three years claims for apiarists’ motor vehicles totalled just under $2.5 million says FMG’s Manager, Advice Services Stephen Cantwell. “Most of these claims are accidents and don’t involve another vehicle. We appreciate the nature of the job involves working at sites that are remote and that can be difficult to access. This obviously is a major contributor to where we see most of vehicle claims come from. “As the vehicles are being used off road, it’s important that they’re prepared to handle the terrain and conditions. It’s surprising how many times we see vehicles that just haven’t had a basic check before getting on with the job. Even the correct tyre pressure makes a huge difference. Despite a driver being exceptionally skilled, tyre pressure that isn’t set for the terrain and conditions still makes it a dangerous vehicle”. Theft is FMG’s most common loss for beehives says Stephen. “The value of hives can make them an attractive target for criminals. We recommend installing security monitoring devices such as surveillance cameras, location and movement sensors or GPS trackers. Displaying warning signs indicating that the area is being monitored also acts as a deterrent. Remember too that by reporting suspicious behaviour and thefts to the police you are helping police with their investigations and allowing the industry to understand the magnitude of the issue.” Beehives damaged by storms and floods are also common claims says Stephen. “We’ve found that common factor in these claims comes to where beehives are located. We recommend the risk of flooding be taken into consideration when selecting sites - particularly if it’s near rivers and streams. This also extends to accessibility. When selecting a site consider potential access issues, if there is wet weather or flooding. FMG is also noticing claims from damage to beehives while being transited, with the average cost of each claim exceeding $50,000. “It’s really worth triple checking beehives are secure before setting off and leaving with plenty of time so that you’re not rushing. It’s just not worth the risk,” says Stephen. There may also be further complications if you’re carrying others’ beehives and there is a loss or damage. “Make sure you understand your responsibilities and contact your insurance professional to make sure that you have the appropriate cover.”