Results

Enter your items and select "Calculate totals" to see the fleet total.

Notes

An any-one-item limit caps what a policy pays for a single machine, whatever figure you have declared for it. If one item's declared value sits above this limit, a claim for that item alone may be settled at the limit rather than at the full declared value. Read more in our farm machinery insurance guide or look up the term in the glossary.

Agreed value cover fixes a settlement figure for a listed item in advance, so a total loss is normally paid at that agreed figure. Market value cover instead pays what a similar item would have cost, in similar condition, at the time of the loss, which can be less than what you paid or what a new replacement would cost. Ask your broker which basis applies to each item on your schedule. See the farm machinery insurance guide and the glossary for definitions.

Average is a term used in some insurance policies. It can reduce a claim if the amount declared for the fleet is lower than what it would truly cost to replace every item on it. If applied, the reduction is often in proportion to the shortfall between the declared total and the true replacement cost, so keeping figures current matters. Enter your items and select "Calculate totals" to see this worked through with your own declared total. Read more in the farm machinery insurance guide or check definitions in the glossary.