| Just got the annual renewal notice on my farm insurance. Last year's premium was $2014 (which in itself was about 25% higher than the year before).
The are asking $3464. A 72% jump, in a single year!
All I've got is a 1970's 2 bedroom ranch-style home, a 48x72 machine shed, a detached 24x24 2-car garage, and two 10,000 bushel grain bins.
$5,000 deductible. one million $ umbrella liability.
I've never made a single claim in 50 years of having insurance!
I'm in an acute state of "sticker shock" at the moment.
Have others had to face such similar increases? This is friggin' outrageous!
Any advice from folks out there, about what to do in this situation?
My agent is giving the usual blather about "increased losses" from weather events, and "inflation".
I live in Nebraska, so hurricanes, wildfires, and earthquakes aren't likely to happen. I also live on top of a hill, so flooding can't be an issue.
Edited by zooeyhall 8/24/2024 22:03
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My farm property insurance has taken a 72% jump!
