Insurance companies take vacancy of buildings very seriously. The experiences with vacant buildings historically have not been good so the rules in this situation are quite stringent. We are talking about properties such as a house, barn or office building. We are not talking about an empty machine shed or grain bin. These are typically …
You have your farm machinery insured and you decide to do some custom work for others. Did you know that the farm policy is for farmers to do their own farm work and not for farmers to do farm work for others. There are very clear lines drawn between personal, farm and commercial business. All …
If for example you hire a custom applicator and they cause damage to your property you will expect them to have insurance coverage. It is good to know the damage can be fixed without hurting the individual custom applicator financially. It is also peace of mind to know that there are financial resources backing him …
As business owners you must always be working hard to protect yourselves. One aspect of this is your risk management practices. The risk management philosophy of your company will determine the amount of risk the company holds in house vs. the amount that you transfer to an insurance company. The key to successful risk management …
Insurance companies take vacancy of buildings very seriously. The experiences with vacant buildings historically have not been good so the rules in this situation are quite stringent. We are talking about properties such as a house, barn or office building. We are not talking about an empty machine shed or grain bin. These are typically …
Are you protected from the devastation of Hail and Fire to your crop? With Private Crop Hail Insurance you automatically get Hail and Fire coverage and both pay on a “spot loss” basis. Also, with Crop Hail insurance in place you are provided with immediate cash flow relief, this is something that no revenue program …
What do you do when you have an accident with your tractor or air seeder? What if your combine is damaged by a rock or it catches on fire. You cannot afford to be without any of these pieces of machinery so you will rent a replacement. Does your insurance policy pay for these extra …
Livestock Insurance and Business Interruption Insurance varies extremely depending on the form you choose and the insurance company you purchase it from. A quick definition for each of these: Livestock Insurance: Insurance coverage designed to insure livestock for death resulting or made necessary from a variety of causes. Business Interruption Insurance: Insurance against business expenses …
With the decline in economic activity, it is expected to see more and more legal action taken against Directors & Officers of corporations for wrong doing that causes financial losses. When we hit hard times we tend to blame others more and we are also more willing to take those we blame to task for …
There are a number of examples that come to mind from the past year that we can learn from. One day when discussing limits of coverage with an insurance company representative he told me that it is common for the limit of coverage to be too low. One example is a barn fire, the cost …