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nw MN | I am shopping a new company for farm liability and property insurance. Listing the building and contents are pretty easy, and I plan to add just tractors and combine to the listed machinery, anything that could possibly burn or a loss would really hurt. And rock ingestion coverage for the combine. I don't see much point in listing implements, stored outside, low dollar stuff. Where I got hung up was when we started to list grain storage. The old policy just had an umbrella policy for loss like this. The bins are cheap to cover but when I start adding protection for contents it gets expensive, and I need to specifically list type of grain and amounts. The way I am thinking it would be very unlikely to lose a bin of grain, especially since spoilage isn't covered, and almost impossible to lose more than one bin of grain. So would you not cover stored grain? Or cover the amount of grain in the biggest bin I have? Or list one year's production and pay up? | |
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Farm insurance strategy?
