Farm Property & Liability
"Farming looks mighty easy when your plow is a pencil and you're a thousand miles from the corn field." - President Dwight D. Eisenhower
Farmers are often considered the backbone industry of our country and many communities throughout the United States thrive on the success of farming operations. Many farmers live on their farm premises so there is a need for a homeowner's type coverage that includes package protection for property and liability, there are some distinct difference in homeowner's coverage. Farm policies are designed to cover the exposures involving farm acreage, farm employee exposures, and farming liability specific to the operation of the farm. Please feel free to contact Custom Insurance Advisors for a review of your farm exposures and allow us to provide protection for the following types of coverage:
1) Farm Owner's Coverage - This policy package provides coverage specific to farming but usually is restricted to owner-occupied homes with connecting farm operations. There are several endorsements that may be necessary to allow for all the operations exposures, but generally this package will include the homeowner's policy and the liability coverage.
2) Farm Employee Liability - Farming operations usually involve acquiring temporary help from others to take care of specific aspects of the farm, such as harvesting seasons for crops or routine fencing and property maintenance. Because the actions of your employees directly relate to your liability, there are products that offer this valuable coverage endorsement.
3) Farm Animal Liability - A common claim scenario in farming involves farm animals being out of their designated areas and causing accidents for motorists. As farmers, the liability for the actions of animals falls squarely on the owner in making certain the animals remain confined from causing damage. Please contact our office if you own several farm animals as we can endorse this coverage to your policy.
4) Scheduled Farm Structures - Farm structures may include anything from a loafing shed to large barns and several other types of buildings. Custom Insurance Advisors look forward to hearing from you in securing specific coverage for your farm structures at various available forms of coverage.
" I take my vacation on the combine and tractor." - Senator Jon Tester
In examining the need for Farm Insurance in relation to your farming operation, did you know that there are specific risks associated with your equipment and how to best cover you against the loss of your assets that might include tractors, combines, plows, rakes, stock tanks, and many other types of equipment. There are options available that we are glad to explore with you in providing adequate coverage for those items that are necessary to the daily operation of your farm.
1) Scheduled Equipment Floater - Many farmers enjoy the protection provided by an endorsement that specifically lists each item and affixes a value to that item for consideration at the time of loss. This type of endorsement may offer lower deductible options and provide broader coverage than those provided in the personal property provisions of your policy.
2) Blanket Protection - Endorsements that include protection for equipment may be written on a blanket basis which will provide protection up to a specified limit without applying individual limits of coverage for each piece of equipment. There are often limitations per item so setting an appointment with one of our agency staff would provide valuable input in finding both the most affordable and accurate way to protect your farming assets. Blanket protection may also provide some seasonal coverage for hay inventory and other crops stored at the farm premises.
"I wanted to be a cattle rancher when I was young because it was what I knew and I loved it."
- Supreme Court Justice Sandra Day O'Connor
Ranchers and farmers rely on their livestock for their livelihood and so it becomes very important to the cattle farmer to protect the investment of finances, time, and care of the cattle. There are many avenues of coverage and our agents are ready to assist you in determining the best coverage fit for your operation.
1) Livestock Coverage Endorsements - Much like the equipment floaters and coverage endorsements, many farm policies provide specific coverage for your farm animals. Your coverage possibilities may include either scheduled or blanket coverage and can also include some coverage for peak birthing seasons. These coverage limits should be assessed with regularity as cattle is acquired or sold to be certain you are not paying premium beyond what you need or leaving any holes in the policy coverage to take care of your animals. Our agents will also review the applicable coverage scenarios within the endorsement.
Farm Liability Umbrella
In much the same way a Personal Umbrella would provide protection over the entirety of your personal exposures, a Farm Umbrella Policy can also give you an extra layer of liability protection in the event that your underlying limits of coverage might be inadequate to meet the demands of a claim. Contact one of our insurance professionals today to go over the coverage available and the endorsements that are relative to your farm. Do not hesitate to call us to examine the options you may want to take advantage of in protecting your farm exposure. We look forward to serving you.