Total Farm Coverage

Western Agency, Inc. now insures over 800 farms and we find that farms now days are like a large business. Even a small North Dakota farm is bigger than many main street business. Thus, their need to keep track of their insurance coverage is vital. At Western Agency, Inc. we want to sit down with our farm customers at least once a year to see if, in fact, we have the farm correctly insured. Farmers are constantly changing vehicles, buying or leasing equipment, updating and adding buildings, adding or subtracting land. All of these things need to be looked at as they happen; or in many cases before they happen, to be sure the item or event is correctly insured. For instance, when a farmer leases a piece of equipment in many cases the implement dealer is going to hold the farmer responsible for damage to the equipment. We urge our farmers to give us a call so we can contact the Implement Dealer in question to see if, in fact, damage to the leased equipment is the responsibility of the farmer. Furthermore, while most policies have limited automatic coverage for rented or leased equipment, some have none or very little. In all cases when a farmer makes changes on his farm it is very advisable to call the agent to see if the item is insured correctly. Remember, we are not buying tractors for a few dollars anymore. With many pieces of equipment costing in the hundreds of thousands of dollars it is critical they be correctly insured.

Buying 'All Risk' blanket farm equipment coverage:

Another major difference in farm insurance today is the fact that many companies and agents are not selling their clients an All Risk blanket equipment coverage. While all risk does not cover everything that can happen to a piece of equipment it covers far more than the standard Named Peril equipment blanket. Due to the high cost of machinery it is very advisable to at least check out these extra coverage’s in an All Risk blanket. The cost many times is very negligible and is well worth it. One final word on Farm Blanket equipment coverage’s: There are still companies out there who don’t even write a blanket policy. In other words, they are writing a scheduled type of coverage. This means that the item must be named on the policy to be insured. In the event of a loss such as a machine shed fire this can be catastrophic as there are literally hundreds of items in a machine shed, which will not be named on a non-blanket policy. Also, many times older tractors of lower value will not be named on the policy and are thus not insured. Be sure you have a Blanket type of farm equipment policy, which will prevent you from having an uninsured loss.

Deductibles: In this day of higher cost insurance, a larger deductible can save you thousands of dollars. Remember, if you save $1,000 per year for 10 years, it is $10,000 in your pocket. If you are the type of person who has few losses, this is a great idea! Furthermore, if you go for several years with low losses, you are eligible for even more premium credit.

Spray Drift: These types of claims are getting more and more common. Keeping good records of conditions when you spray and being careful when you spray are major concerns. In addition: if you have a spray drift loss, report it to us immediately, so we can do a proper investigation on the loss.

Bottom line on Farm Insurance:

If you have a question or would like to make a change give us a call at (800) 735-4955 so we can be sure your assets are correctly protected.