Farm insurance ?????????????

[farminghandyman]

basically I insure a 100 year old farm house, about 30 by 32, a steel grain bin, 12000 bushels,
a 100 year old horse barn, in side the middle is 30 x 50, and a old wood granary building 30x30, more storage, and I think the garage, 24 x30

and a blanket policy on the tools and machinery, (most would be considered scrap iron), besides the 2 1970 4020 tractors,
no animals and liability on the place.

I payed my last installment of over $700 I think 6 times a year, today. that come out to a little over $4200 a year, (the cars and trucks are on a separate policy). banker say that looks about right, and not much different from the company I had before, in cost, (other company the car insurance was bundled in), but the cost for both is about the same,

I have replacement cost on the buildings and (they say they will cover the value of the loss on the blanket), not sure who gets to value it,

How does that sound $$ wise to what your plans cover?

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I do not know this for my company need to ask.
but my SIL had some things stole off her truck, and the company would only pay if she replaced with like items,

and the banker said he had a friend who lost there house in town (fire), and instead of rebuilding they found another a few block from there location and wanted just to buy the company said no pay unless you rebuild with like building.

first I want coverage, but I doubt if I would want to rebuild like buildings, (I would like to update and at our age I do not need the size (if property is lost as well). as I would have to buy to refill it,

the same as the barn, I use it as a shop and storage, I have accumulated over 50 years of stuff, first if it was gone I would not replace a lot of it, and would consider the possibly of two buildings for the same square footage than one old eastern work horse barn,

at my age I do not know how many tools I would even want to replace since I was general contractor for many years, and have tools of all trades.
renting at my age or hiring some one would look like a good choice for some things,

is there any company what will write a check for the proposed dollar loss?
rather than require replacement of property and buildings?

I had a loss last year, and I asked the company when I went with them, if some thing happed to my roll up shop door, would it be covered, they said yes,

My goats got in the building, and the big buck on his out took out the lower panel of the door, it was only up about 24".

the door was about a $1400 door, I have a $1000 deductible, so they would have only had to pay out about $400, But because an animal took out the door they would not cover it if I would backed through it they would have, I pay then 4200+ a year and they will not cover a stinking $400 on a door they said they would cover,
and the agent would not go to bat for me, so

I all ready have some poor feeling for the company, and the agent, so if any one has any recommendations I would like to know,

[MO_cows]

Sounds like you are paying waaaaay too much. Get on the phone Monday and get some quotes.

[farminghandyman]

I feel like I am paying way to much as well

[Travis in Louisiana]

I tell you, insurance is suppose to help you, but with the rates they now have, I will just take my chances. I have the house insured, but the barns and out buildings are minimal. With a few years of saving premiums, you could build a building if you lost one. For example, say your kitchen catches on fire in your house. The house is insured for 100,000 dollars. The kitchen is 10 percent of your house size, thus 10 percent of 100,000 dollars, which is 10,000 dollars. Say, 1/2 of the kitchen is burnt, that is 5000 dollars to rebuild. I keep insurance on what I have to, the rest I will cover myself. INSURANCE IS A RACKET!!!!!!

[CurtisWilliams]

One thing to consider and ask your insurance provider is how much is what your home/barn worth vs. what it will cost to replace it. And what they will give you.

On my policy, and according to my mortgage company, my house is valued at $50,000. I am insured for that amount in the event of a total loss. But if I had a total loss, I couldn't replace my home for under at least four times that amount.

So if my house burned to the ground, I would be renovating my garage into a domicile. Life goes on.

[Kasota]

That seems high to me. BHs farm insurance is not near that. He has a huge old farm house, enormous 3 level Amish built barn, outbuildings, grains bins, two story shop and storage building, a smaller "pony barn" and a 3 sided lean shelter. Plus numerous tractors, hay equipment, plows, planter, etc. House has a woodstove, too. He also has his own gas well, so there are insurance considerations there, too, as there is more liability with your own gas lines.

Maybe ask some agents from different companies to give you a quote.

[farmerDale]

Shop around, that is high IMO.

[Darren]

Does anyone have insurance from Farm Family?

[TxMex]

At the least you need to change companies. Be sure that your policy will replace with new items. If it doesn't do that you are throwing your money down a hole. They will value your items at such a low price that you would have literally been better off to put that money into an account and draw the pitiful little amount of interest that is currently available if your policy does not cover replacing the lost or damaged item with new.

[tripletmom]

Check into a mutual company. We had an old house with wood heat and liability was included for about 400 a year. We had tornado damage once and they were easy to work with.

[Conhntr]

I would think about cranking your dedecutible up alot. I would never make a claim on anything unless it was a major loss. Use the insurance for catastrophic loss and pay out of pocket for minor loss. You premiums will be much lower and if you are filling multiple claims your premiums are going to keep rising and the. Tpyou will be blacklisted as u insurable. Even 3-4 claims may get you droped. You calling in and asking about the door probably was entered in the database the same as a claim would be.