4 Considerations for mitigating irreversible fire risk
Why your car insurance claim might get rejected
October 23, 2020Standard Funeral Plan
February 4, 2021Ensuring that you are covered should a fire break out on your farm is one of the first considerations of any insurance plan you should address. Hot and sometimes dry summers (as is the case in the Western Cape) play a massive role in the loss of crops/livestock across South Africa every year.
Ironically, non-insurance and underinsurance is a risk that some farm owners still take on and in so doing they put their entire livelihood in danger, as well as those of the people they employ. Fire not only damages crops and livestock but can also lead to irrecoverable damage and the end of legacies.
With comprehensive fire insurance, many of these dangers and the results thereof can be mitigated. Take note, however, that when it comes to fire risk, there are a few things that should be considered:
- Dry seasons and draught increase fire risk
This may seem like a no-brainer, but knowing when to expect and increase fire precautions is vital in mitigating your overall fire risk. The majority of South Africa has been experiencing draught for much of the last few years, and the drier times have increased fire risk. Vigilance is key.
- There is no better way to lower your fire risk than having a risk assessment done
Undergoing a risk assessment can highlight the areas of your farm/property that are more susceptible to fire. Once these weak points have been pinpointed, you will know exactly where to improve your safety and risk-mitigation.
- Fire insurance does not absolve you from reasonable responsibility
In order for your fire insurance policy to pay out in the case of loss/damage due to fire, you need to comply with the necessary safeguards it mandates. This includes conditions such as:
– Ensuring that there are reasonable firebreaks on each boundary of your property, and that they are reasonably sufficient to stop the spread of fire from one side of the boundary to another.
– Complying with the terms of the Forest Act No. 122 of 1984 (as amended), and/or the Veld and Forest Fire Act No. 101 of 1998, or any succeeding Acts, regulations, or notices that have bearing upon legislation applicable to the event of fire.
– Refraining from lighting, using, or maintaining any open fires when conditions are unsafe to do so. You are also accountable to the organisation/association who is responsible for fire control/restriction in your area, while also being required to comply with the Fire Protection Association in your area.
– Ensuring that claims are made timeously.
This list, however, is non-exhaustive, and the responsibilities for fire prevention and mitigation are manifold.
- Fire Insurance provides peace of mind
If you have fire insurance and comply with relevant conditions, you have a strong safeguard against loss or damage arising from fire. You can rest assured, knowing that you have done all you reasonably can do and that you are covered should something go wrong.
Speak to one of our brokers about fire insurance today.
This article is a general information sheet and should not be used or relied upon as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice. Errors and omissions excepted (E&OE)
