Many agricultural entrepreneurs choose to insure themselves against incapacity for work, while others do not. The latter group often points to the high costs associated with disability insurance (AOV). Do you opt for an AOV or not?
Expensive or cheap, a small or large risk, these are all subjective concepts. What one person considers a small chance, another sees as average or high. In other words, there is no one-size-fits-all solution. It is important to ask yourself a number of important questions when considering an AOV.
If I become ill, who can help me (temporarily if necessary)? For example, do you have employees, or can the neighbor help out for a few days? And if you then have to hire someone, for how many hours a week is that necessary and what does it cost? And above all: what is the consequence if you are out of the running for 1 or more years?
End age
Another important consideration when choosing an AOV is the insured age. This determines the age at which you no longer necessarily have to insure the risk. This is not easy, but it is important when making the right choices. Your partner and (possibly) your children also play a role in this. Which products best suit your situation is the next step. A number of insurers are already helping with this by preparing policies for specific target groups; there is also an insurance policy aimed at farmers.
Finally, it is then a matter of comparing the offers and choosing the best solution. Above all, compare the costs over the entire term and do not only look at the first year. How do I weigh the risks against the monthly premium? In short: security and peace of mind versus costs. That outcome can be different for every entrepreneur.
Security and tranquility
Boerenbusiness and De Goudse believe that it is good to tip the balance a little more towards certainty and tranquility. They do this by developing a special policy that responds better to the risks faced by farmers and is also cheaper as a result. In addition, we have involved a number of specialists in our collaboration and they guide and make the above process easier, so that you have more time for doing business.
If desired, these specialists will look at all your insurance policies. For example, can the entire package be cheaper? In this way they have already saved tens of thousands of euros in a large number of cases. This might make the choice even easier.
Knowing more? View on: What about my AOV?