FMG SUPPLIED
When you buy a lifestyle block you should but lifestyle block insurance.
Buying a lifestyle block isn’t as easy as putting down a deposit, getting help from the bank for the rest, moving in and then buying animals or planting trees.
In fact, there are plenty of scenarios that many people may not have thought of when buying a lifestyle block. Imagine your stock breaking down fences and storming your neighbour’s garden, or the septic tank overflowing and flooding your bedroom. Most new property owners would think to buy insurance, but some might not think of getting really specific.
When you buy a lifestyle block, you also need to buy lifestyle block protection. You need to be covered for things like damage to a fence if a cow unsuccessfully tries to jump it and loss of feed if the barn catches fire and a winter’s worth of hay goes up in smoke. Lifestyle block insurance adds that extra layer of protection to those unexpected scenarios.
Despite being much smaller, a lifestyle block is essentially a farm so it makes sense to deal with a rural specialist insurance company.
FMG SUPPLIED
A Lifestyle insurance package is essential for protecting fences, property, animals and farm equipment.
FMG’s experience as New Zealand’s leading rural insurer means they understand what it takes to properly cover a lifestyle block, and tailor their products to suit this. If you have animals, choosing a livestock policy is one of your most important decisions. FMG’s livestock protection covers alpacas, cattle, deer, goats, llamas, pigs and sheep. Animals are covered against different risks depending on whether they are in the open air or housed in a building.
Farm building protection covers buildings like tool sheds, pump sheds and fixed machinery. If you also have culverts, underpasses, fencing and underground pipes that aren’t technically part of a farm building, they can still be covered under this policy – just ask your FMG adviser about what to include.
For properties that are large enough to warrant employee accommodation, FMG’s employee house policy automatically covers things like accidental loss, liability, gradual damage, landlords’ contents and septic tanks. It won’t cover your employees’ possessions though so remind them to take out their own contents insurance policy.
FMG SUPPLIED
A lifestyle block is essentially a farm so should be insured by a rural specialist insurance company.
Equine-lovers, read carefully: you need specific insurance for your horses because they won’t be covered under a standard livestock policy. The cover you get comes down to the ‘neigh-bours’ you’ve got though. FMG’s specialist equine insurance consultants will match you with the right policy depending on your horses and how many you’ve got.
When you’re looking for an insurance company that really knows its stuff about the rural community, you can’t look past FMG. They deal with the complex needs of farmers and growers every day, so they bring an enormous amount of experience and depth to their lifestyle clients.
If you’re in the market for a lifestyle block and are after some advice to help you start your journey, download one FMG’s Lifestyle Guides at www.fmg.co.nz/lifestyleguides.
*This article includes a summary of our products and is subject to our specific product documentation and underwriting criteria. The relevant policy wording can be found on our website www.fmg.co.nz or by calling us on 0800 366 466.
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