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At the time of a claim, the type of coverage on your policy will become very important to you. Replacement Cost or Actual Cash Value coverage on your policy could make quite a difference to how the claim is settled. Both forms of coverage are good or right depending on the many circumstances. So, what …

Crop Hail Insurance is a great risk management tool. Besides the hail coverage, the policy also provides fire loss coverage. It is important to recognize that this program provides coverage on a “spot loss” basis. All other farm revenue programs pay based on the average income of the farm. One with 92% coverage another with …

Insurance companies take vacancy of buildings very seriously. The experience with vacant buildings historically has not been good so the rules in this situation are quite stringent. We are talking about rental properties such as a house or office building. We are not talking about an empty machine shed or grain bin. These are typically …

We are in a time where anyone can sue anyone for anything. Can you really think that risk management is optional and not at all necessary? Once a legal claim is made it is up to the courts to decide if it has any merit. If the decision is that it has no merit, the …

Are you renting any buildings? It may be Grain Bins, a machine shed or if you are operating a business it might be a garage or office space. If so, be sure to mention this to your insurance broker. You will want to mention this because if you cause damage due to your negligence to …

Do you operate a farming business and a “non-farming” business? Did you know that this is vital information that you need to inform your insurance broker with? All policies contain limitations and one of the very basic ones is that a farm policy is set up to cover farm exposures. A commercial policy is to …

Plan Now! Now is the time to put together a plan in order to keep your livestock production at peak efficiency this next summer. Heat Prostration insurance is available just in case things do go bad. In order to qualify for the coverage though, just like any other insurance, you must qualify. Qualifying for the …

There is some confusion when it comes to determining the dollar value of livestock. It would seem very simple at first glance. The purchase price should be it, well maybe not. The age, feed cost, fixed overhead costs are just a few initial considerations in determining the value. What about the average cull rate in …

When you own something or do something there is risk. Typically, people choose to cover off this risk by selling it to the insurance market. The insurance company charges a premium and then in the event of a covered loss happening, it is their responsibility to get you back to where you were before the …

When you, a business owner is involved in an accident, your natural reaction is to acknowledge the mistake and to apologize.  It may happen to a valued client and you want to do what you need to in order to salvage the business relationship.  In the event of litigation this may compromise your insurance company’s …