A farmer’s work is never done, especially in the fall. That’s when the crops grown all summer are harvested, and (a few weeks later) the farmer is able to take a look at his or her property, equipment, and resources, and come up with a plan for the winter. Part of that plan is reviewing insurance coverage for the year — and if a farm owner doesn’t have a policy in place for the land, buildings, and vehicles, finding the right coverage.
Hastings Mutual offers a comprehensive Farmowners insurance policy. Here’s why: it includes everything from the driver’s seat of the tractor to the grain in the silo. This is what can be covered in every policy.
If a vehicle or tool is damaged, you’ll be covered to buy a replacement, or get yours repaired. It also covers you for the business you lost while it was broken and being repaired. That’s called “business interruption,” and it’s to make up for the money you didn’t make: spoiled crops, deliveries that didn’t happen, and more.
Whether you have a dairy farm, fields of grain, or a high-tech, computer-controlled operation, you’ll need to keep your personal information safe. We offer coverage for stolen identity, from a missing wallet to a hacker who breaks into your bank account. Our program features 10 preventative services, including protection for medical records and estate records.
A pollutant is any solid, liquid, gaseous, thermal, or radioactive irritant or contaminant, including acids, alkalis, chemicals, fumes, smoke, soot, vapor, or waste. Waste includes materials to be disposed of, recycled, reconditioned, or reclaimed. That’s a lot of different kinds of materials — let your independent insurance agent know if you have pollutants on your property, to make sure they’re covered.
If a stray rock shatters the glass on your tractor or combine, you’ll be covered under our policy.
As long as it’s on the property, a building is covered, along with permanently attached equipment, like feed and watering equipment, milking equipment, and waste disposal equipment. It doesn’t count the land itself, underground water or water on the surface. It also typically doesn’t apply to silos and outdoor objects like windmills and fences — it’s got to be a building that you can go inside to use.
If you have grain growing on your farm, or hay, straw, or fodder gathered on the property (baled, in stacks, or any other way), you’re covered if there’s fire or lightning that damages the grain. We also pay for theft of baled hay or straw when located outside of buildings.
If you purchase a new machine (a tractor, wagon, trailer, or something similar) we’ll cover $100,000 if you need a replacement or repair. Don’t forget to let your independent insurance agent know when you’re purchasing something new.
That’s the basics of what is covered. There are several additional coverages you can include in your policy, too, depending on the kind of farm you have and exactly what needs protection. As always, talk to your independent insurance agents about the best coverage for you, your property, and your livelihood.