The Threshed Grain Floater is an important consideration for you. When placing coverage on your threshed grain, you need to insure to the maximum value that you have on hand at anyone time throughout the year. The premium that you pay takes into consideration the fact that this maximum value is typically for a small portion of the year.
Threshed Grain Floater coverage’s vary greatly from insurance company to another… annual premium is one difference; another difference is the coverage’s that are provided. For example, some companies provide theft coverage of the grain while located on a vacant yard while others provide coverage only to a maximum of 10% of your total limit stated on the policy. Some programs do not cover theft at all. The main coverage’s are theft, fire and wind. Typical claims are theft from vacant yard, fire while in grain dryer, collision or fire while in your truck.
Be sure to seek advice and purchase insurance from those who understand your business!