I recently had my annual visit from my NFU insurance agent, who told me that we now have insurance to cover debt recovery.  This is to cover costs and expenses incurred in recovering debts resulting from the sale of “goods and services”.  There are, of course, a number of conditions and exclusions, but it seems a good policy to me.  Of course this sort of policy will not help if you have sold produce to a company that has been put into administration.

One always hopes that this type of insurance is never needed, but you could say that about all insurance.  I seem to claim on one form of insurance policy or another every other year or so, and I think this could be another useful tool in my armoury to keep my business affairs profitable.

Do you have this cover with your policy?  If not, should you obtain a quote for it?  You most definitely should if you sell outside the normal agricultural circles of dairy companies, livestock markets and grain buyers.