Farm Insurance

[Wayne02]

Did you get your farm insurance through one of your other insurance providers (like home insurance provider) or did you have to go with a separate company for the farm insurance?

What type of things does the policy cover? Is it solely liability focused? Say one of your cows gets out on the road and causes a multi-vehicle pile up with fatalities. Does it cover the subsequent crushing legal costs?

A former friend who came over to visit slips on a cow patty while taking a stroll along the fence-line and breaks her hip.

The neighbors kid is playing around your machine shed and while running around the back-end of your tractor runs right into the brush hog hanging off the back, messing up his legs and requiring multiple surgeries.

Is there on-site inspections required during the application process for farm insurance?

Have you ever had to make a claim against your farm insurance? If so, were you happy with the results?

Thanks

[7thswan]

I can't help here,other than give a bit of first hand knowlege. Make sure you have a backup sourse of heat for your woodheated house, same with your woodcookstove. Many times 'solid fuel" stoves are not allowed. Never admit that the cow hit in the road is yours,silence is golden. Your rottweilers/pit bulls ect are always "mutts". You will get hit on your Insurance for "tripping hazard" for that pile of wood. Good Luck, and think before you speek,the lifestyle you save may be your own.

[dndweeks]

Most of your questions are directly related to the liability portion of the policy. Each policy has a limit of liability and typically, the limit of liability is directly related to the amount of the policy. If you are concerned that the policy may not provide enough coverage in the event of an accident, you can take out a personal liability umbrella policy (PLUP). You work with your agent in determining what amount is adequate based on your income, assests, etc. If you have $100,000 liability coverage on your policy and you are only worth $100,000, that is adequate coverage. However, if your net worth is $1,000,000 and someone files a lawsuit against you and wins, your insurance will only cover $100,000 and you could find yourself having to sell off your assests to pay that lawsuit.

It's also not uncommon for insurance companies to send out field underwriters to inspect properties. I worked for a major insurance carrier for 15 years, most of that in homeowners claims. It was standard practice for claims adjustor to be out inspecting a claim and then report information to underwriting which would trigger an inspection of the property.

[oregon woodsmok]

Very few companies will write farm policies, so your options are limited.

Mutual of Eunumclaw writes farm policies, but they always have an excuse to not pay claims.

I use the farm bureau and haven't had any large claims but they were quick and polite about paying the claim I did have.

[salmonslayer]

We have a farm rider on our home owners policy but then we live in farm country and its very common. You can purchase the amount of liability coverage you want and can afford to pay for.

[sammyd]

we have a livestock rider for our homeowners insurance for liability issues.
When we decided to rent a farm and buy animals that was a different policy but we used the same insurance agent but this was for our losses

[Ross]

We're covered for virtually anything but some things to consider are things that will drive up costs. Obviously things like not getting electrical work or heating systems cared for or even inspected. You should have fencing maintenance roof repair etc. as a cost on your tax returns, and yeah every so often the underwriter will come and inspect things. Nothing like a guard dog to drive up rates, and something like raising breeding bulls instead of steers will be noted as well. Having a retail outlet on farm is pricey or things like schooling or camping. Doubt you can get insurance for a CSA that includes raw milk or a shares system. The more contact with the public you have the more likely you will need a separate commercial policy as well as a general farm policy. I have 2 commercial policies and a farm policy that covers the house as well. All came from the same company and underwriter and that helps. Buying insurance here and there really hurts.

[luvrulz]

The only time we had to file a claim was when the agent's mother pulled out in front of me and cause my car to be totalled. We havew all of our insurance through Ky Farm Bureau.....