Grains of Knowledge

Do Farmers Need Equipment Breakdown Coverage?

We wanted to share this post from our sister blog, The Commercial Line, as this topic is relevant and important to our readers of Grains of Knowledge.

From a farm and agribusiness side, our underwriters tell us they are seeing more dairy and grain farmers adding this coverage to their farm accounts. They see and sometimes experience, the gap they have to a potential loss without this important coverage. The potential return on the investment is well worth the price of the coverage.

After The Storm..What You Need To Know

With the brunt of Hurricane Sandy behind us, it is now time to review, assess and begin the clean up process. For many people still without power, they will stay in the “assess” phase until power can be restored. For those folks who have power today, it is important to assess your home, yard, belongings and neighbors. Be on the look out for downed power lines and high-standing water on the roads. Stay off the roads if you can and protect your property from any further damage.

Is your equipment protected?

Google “equipment breakdown” and you will see lists of various insurance offers and companies who offer many types of breakdown coverages. However it is hard to find a site that explains what this type of coverage is or why people need it.

Do you have ROPS in place to protect you?

One statistic the state of Pennsylvania is not proud of is the large number of tractor rollover fatalities. Between the years 2000-2008, over 55 farm-related tractor rollover deaths occurred in Pennsylvania alone. One in 10 farmers will overturn a tractor in their lifetime, and one in seven farmers who are involved in a tractor rollover are permanently disabled. And experience alone is not enough to protect you; an alarming 80 percent of tractor rollovers happen to highly experienced tractor operators.

Why Insurance Companies Inspect Your Home

A recent Ohio news story implies a connection between increased storm losses this summer and an increase in home inspections by insurance companies.  While we can’t speak for other companies, we saw this story as an opportunity to explain Westfield’s home inspection process – how and why we do it. via

Agribusiness Claims and Underwriting: Assessing Your Farm Property

This year has been a record breaker in terms of storms, property damage and insurance claims. According to recent statements from the Insurance Information Institute (I.I.I.), during the first nine months of 2011, U.S. auto, home and business insurers paid policyholders more than $25 billion in catastrophe claims. From hurricanes and tornadoes, to severe thunderstorms and flash flooding, America’s farmlands have been some of the hardest hit areas. Unfortunately for some farms, the topic of insurance is not properly addressed, and leaves the cost of losses in the hands of the property owners. There are, however, ways farmers and agribusiness […]

3 Farm Insurance Needs Often Overlooked

When it comes to insuring farms and related businesses, there are several types of coverage that are often overlooked.  Here are three that are important areas to consider – talk with your agent to make sure you have the coverage you need! 1. Expanded Replacement Cost Endorsement This endorsement, or addition to your policy, requires that the dwelling be insured for 100% of the cost to replace it, known as the replacement cost value. This form provides up to an additional 25% coverage for the particular dwelling listed under coverage “A”. Note – this coverage is not available for irreplaceable […]