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EC IL | In the past we've always carried liability insurance for each farm. Total acres(crop, CRP, road ditches, grass waterways...)
We added a new farm(80 acres) last year which bumped us from below 1500 acres to 1501+ which basically made the policy premium increase 40%....for only a 5% increase in land added.
We also carry umbrella insurance of I think $2mil.
Should we be insuring total acres or just tilled acres? That alone would put us back below if we no longer count CRP or ditches as insured acres.
If someone got hurt in our ditch or CRP waterways how would the insurance people decern the difference in land compared to our tillable acres?
I thought the more land you insure the cheaper/ac it should have got but I guess it's the opposite.
Just seems like the insurance company is nickel and diming us and if we don't push back any they just slipping increases in there
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Farm Liability Insurance
