There is property on your farm that you may not have thought to insure. The Threshed Grain Floater is an important coverage when you consider this is what you worked all year to produce. Each bin or truck load represents thousands of dollars of investment and can be insured adequately. It is your cash flow, the life blood of the farm. This needs to be considered carefully.
When placing coverage on your grain, you insure to the maximum value that you have on hand at any one time. The premium charged takes into consideration the fact that this maximum amount is typically for a very short time each year.
Threshed Grain Floaters do vary greatly between different companies. For example, some companies provide theft coverage while located on a vacant yard to the full limit amount while others only provide up to 10% of your total limit and others do not cover theft at all. These points may or may not be important in your situation but it is a good discussion point.
Theft coverage is the main concern but also important is coverage for collision, fire and wind.
You could consider only insuring the grain that is in your grain dryer and adjacent cooling bin. We mention this because embers do travel from the dryer into the cooling bin which has a good oxygen source provided by the aeration fan.
Some examples of claims we have seen are theft from vacant yard, fire in grain dryer and cooling bin, fire in truck and combine. An odd one, fire in a very typical flat bottom bin with full floor aeration and unloading tube.Be sure to seek advice and purchase insurance from those who understand your business!