Insurance pros share insights from Clarkson's Farm

The previous two series are full of some humorous mishaps as the Top Gear star documents his farming journey so far, as we get a glimpse of some of the not-so-funny crises many new business owners have to face.

In light of this insurance specialists at Bionic have revealed the types of business insurance cover that could help businesses avoid being stuck in similar messy situations.

Diddly Squat Farm Shop

Public liability insurance

Public liability insurance is essential for those that interact with the public, customers, clients, or other third parties on their premises or during their operations. It is crucial in situations where your business could be held legally responsible for causing harm or damage to others.

Unfortunately for Mr Clarkson, his farming venture hasn’t been smooth sailing in this department, with even trespassers threatening to sue due to getting stuck and bruising themselves while on the farm. Ensuring you have public liability insurance provides financial protection and peace of mind when it comes to accidents like these, helping you avoid significant out-of-pocket expenses (or even bankruptcy) due to costly legal claims, or to just contest who is at fault.

Business interruption insurance

Business interruption insurance is a type of coverage that helps businesses recover lost income and cover ongoing expenses if they are unable to operate due to disasters such as earthquakes, floods, or other unforeseen events. Situations such as the pasta cooker malfunctioning ahead of Clarkson’s restaurant opening, may not be included, even if it delayed the opening, so it’s vital to check what is covered in your policy to make sure you’re covered when you may need it the most.

This type of business insurance is invaluable for any unexpected situations that cause damage or affect the normal operation of your business and will keep your company afloat by covering you for loss of income and the costs you incur.

Building insurance

Building insurance provides financial protection against damages to your property's structure, including the building itself and any permanent fixtures. Usually covering events such as fires, storm damage and vandalism, it offers peace of mind to homeowners and landlords.

In series two, we saw Clarkson deal with fire damage to hay bundles in the storage area on his farm. He claimed it wasn’t the first instance of vandalism, saying: “That's the bundle they burned last year and they've tried to burn this one this year”.

Building insurance is a great way to protect your investment and ensure timely repairs or rebuilding in the event of unforeseen disasters.

The business has grown over the past few years

Personal accident insurance

If Clarkson hasn’t taken this out already, he’s missing a trick because of the many injuries and accidents we’ve seen on the show! Remember when the amateur farmer chopped off part of his thumb while trying to chop up potatoes to make crisps to sell from his farm shop? Clarkson said: “It’s interesting that the only proper injury I’ve sustained in farming – a long-lasting one – was actually from cooking, rather than farming.”

Business personal accident insurance provides coverage for employees who suffer accidental injuries while on the job - including tractor related accidents in the case of Diddly Squat Farm Shop and the farm itself. This cover offers financial protection for medical expenses, disability benefits, and even death benefits in some cases. By securing this insurance, business owners can reduce the likelihood of having to pay out for workplace accidents.

Product liability insurance

Product liability insurance covers the costs associated with legal defence, settlements, and judgments if a product sold or supplied by the insured causes harm or damage.

Previously, Jeremy Clarkson sparked concern after revealing cider sold at Diddly Squat Farm was to be recalled, due to it exploding. Having product liability insurance is crucial for businesses to reduce financial risks like this, and protect their reputation in the event of product-related incidents. Not to mention ensuring cover against legal claims arising from damages or injuries caused by products.

Business comparison expert at Bionic, Les Roberts, added: “Even if you are as financially comfortable as Mr Clarkson, you should always prioritise getting the right insurance cover for your business so you don’t risk significant financial losses.

“While you can never predict what mishaps might occur, you should assess the risks that are likely to impact your business to best identify what coverage you might need. To reduce financial risks and protect your assets, employees, and reputation, it’s vital to take out relevant insurance. That way, in the event of any disasters you will be protected.”