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 …
If we stop to think for a minute we can all think of Canadian Companies that have filed applications for and received protection from creditors under Chapter C-36 of the Bankruptcy and Insolvency Act, Companies Creditors Arrangement Act. If we think a little further we can come up with examples of Canadian Companies that have …
ATV’s are being used more and more on the farm, you see them in many yards and in many fields. These units are very important to your farm and are quite expensive to purchase. Sometimes these machines are left out in the field for many hours and from time to time they are even left …
What if you wake up one morning look outside and your barn is gone? Then you pinch yourself and it is still gone. Your barn is burned down nothing left but burnt debris. You open a fire insurance claim and as instructed you get quotations from General Contractors to rebuild. They all come in at …
Disasters happen all too regularly. It is noted in the Media constantly. We may even say to ourselves how do these people deal with this situation so calmly. I have an answer, either it is not calmly, it only looks like it, or they are very prepared. The following worksheet may be useful for planners …
Are you running a side non-farming business from your home? With this new trend comes some questions? If the personal computer in your home office is used for business purposes, is damage to it covered by your farm homeowner’s insurance? If a client trips and breaks an ankle on the stairs to your home/office, does …
Part 2 of 2 Last time we were discussing “What Does Co-Insurance Mean”? We reviewed the calculation of co-insurance and how it applies to you at the time of a claim. A quick review of the formula used: Amount of Insurance Carried x Loss = Payment Amount of Insurance that Should …
Part 1 of 2 If you look closely at your insurance policy you will notice the phrase 80% or 90% Co-Insurance. Some believe that means they will get paid 80% or 90% of the claim. This is an incorrect assumption. Co-Insurance is a clause in certain property policies which provides for the application of a …