A new farm insurance policy, aimed at helping small farmers survive the current economic pressures, has been set up by rural insurer NFU Mutual.
Launching the new service, which is aimed at producers with less than 50 hectares, the Mutual said that its Farm Essentials policy provided the sector with tailored cover and simple administration.
Designed to complement the existing Farm Select policy, which provides cover for a wide range of farming enterprises including dairy production and diversification schemes, the Mutual’s Mike Lawler yesterday said that the new service was part of a range of measures taken by the company to support the small farming sector, which was currently facing challenges from low farm-gate prices, rising input costs and a heavy administrative burden.
“Small farms are essential to the well-being of our farming industry and the countryside,” said Lawler.
“They are at the heart of country life, provide fantastic opportunities for new entrants to get a foothold in agriculture and enable mixed or difficult land to be farmed effectively in an environmentally friendly way.”
However, he added that current economic pressures were making it increasingly difficult for farms under 50ha to thrive: “Together with other measures – such as our new Farm Succession Service – this new policy is intended to help make small farms sustainable for current and future generations of farming families.”