Replacement cost insurance means the insurance company will pay for the rebuilding costs of the same quality and size of building that there was previous to a loss, spending up to the limit of coverage on the policy. So, if you do not have enough coverage listed on your policy you will have to pay …
Everybody knows the saying; “Agriculture is the Backbone of our Country”. What then is insurance, the nerves? I ask this because you should try finalizing your finances without having your insurance in place. It is a very important part of your business plan; without it a lot of businesses would be closed down or never …
It is November, what if you experience a total loss that you always thought would never happen to you and now your property is burnt to the ground. Without actual quotations from a Contractor or an Appraiser, you do not know with absolute certainty what the limit of coverage on your policy should be. Even …
If your farm hires help over the course of the year, you better make sure you have Employers Liability coverage on your farm insurance program. Being that you have hired labor working for you on your farm, legally you have a duty to take care and provide a safe working environment for them. If you …
Hazardous Materials on the farm is an important issue today. The world is becoming more and more sensitive to anything that can potentially cause environmental harm. Insurance policies may or may not pay for the clean up costs of spilt fuel. It all depends on the situation. If there is damage to property that is …
Right at the top of every farm or business insurance policy is the “Named Insured”. Simply put, this is who can make a claim against this policy if they have an insurable interest, meaning they have a financial tie to the property and operations that the policy is covering. Typically, the name will be the …
You have a farm policy insuring your farm machinery, you happen to have a little extra time and you seize an opportunity, you go out and do some custom work. Great idea, is it? There are three coverage issues that need to be dealt with before you go ahead and do this, machinery floater, machinery …
An insurance broker – who works for the client and not an insurance company – can help you get a suitable insurance policy at the best price. Here’s the big question: Do you have the right insurance coverage on your policy? If the answer is I am not sure, think about this. Who do you …
Farm and Commercial policies cover the electrical, mechanical and other equipment used in most operations against fire, theft and other events. But most property policies specifically exclude losses arising from a far more common problem, equipment breakdown, which includes electrical injury, mechanical breakdown, pressure explosion, rupture and cracking. So any business operation that use pressure, …
It is that time of year again. Decisions needing to be made about Crop Hail Insurance are here. I am going try to clarify a few things (or confuse you). Crop Hail Insurance comes in many different forms. Hail insurance can be purchased with no deductible, which are the basic form, or percentage and disappearing …