Cattle Insurance

[Dusty Britches]

I was reviewing my farm and ranch policy and asking for comparisons from a few different companies to make sure I had the best policy for my operations. Several companies included a theft and death loss rider for my herd. I seem to always think about it at this time of the year - springtime in Texas. A retired couple not far from me lost all of their cattle when they were struck by lightening. They relied on this herd for supplemental income. While it happened many years ago, I still think of it.

Who had theft - death loss coverage on their cattle? The policy will be written on cattle value, which is very volatile right now. If you have a policy rider on this, how did you value the cattle?

 

[CalumetFarms]

I've had the cows covered on my farm policy for a long time, used it twice both times my adjuster understood and they paid out with no issues. We set it up for the cows only $1,400/per- nothing on the calves, because their quantity and value is constantly changing. We also included bull separately- $3,500 ea I believe
I recommend it

 

[CowboyRam]

I have a friend that lost 12 head last year from rustlers. Other guys that run out on the same pasture last summer lost cows as well. I'm not sure if he was insured.

 

[Lee VanRoss]

I have a friend that lost 12 head last year from rustlers. Other guys that run out on the same pasture last summer lost cows as well. I'm not sure if he was insured.

I would be interested in the conditions for payment clauses in the policy before I considered it. As I see it at this point the risk of loss
would not be worth the investment. Location of inventory might be a consideration.

 

[Caustic Burno]

I was reviewing my farm and ranch policy and asking for comparisons from a few different companies to make sure I had the best policy for my operations. Several companies included a theft and death loss rider for my herd. I seem to always think about it at this time of the year - springtime in Texas. A retired couple not far from me lost all of their cattle when they were struck by lightening. They relied on this herd for supplemental income. While it happened many years ago, I still think of it.

Who had theft - death loss coverage on their cattle? The policy will be written on cattle value, which is very volatile right now. If you have a policy rider on this, how did you value the cattle?

My Farm and Ranch policy has theft coverage.
My cows are valued at 1200 a piece. I just went over all the coverage today with my agent.
There is no death coverage.

 

[bulldog04]

The only death loss will be from lightning, accidental shooting, coyotes and wild dogs and that sorta stuff. To insure for death you do is separate. Usually on a high dollar bull and he can be insured in case he can't work anymore

 

[Steve123]

One way to insure against the loss of a high value bull is to collect some semen on him.

 

[Dusty Britches]

Thank you for the replies. My agent said it is one policy that covers theft and death loss. It's $6.31 / $100 of value. Does that sound right?

Part of me thinks theft risk is very low because I'm surrounded by other ranches but part of me thinks someone may still come. I follow all of the recommendations from TSCRA for prevention.

Risk of death would be weather related - hail, tornadoes, fire, lightening.

 

[Lee VanRoss]

Thank you for the replies. My agent said it is one policy that covers theft and death loss. It's $6.31 / $100 of value. Does that sound right?

Part of me thinks theft risk is very low because I'm surrounded by other ranches but part of me thinks someone may still come. I follow all of the recommendations from TSCRA for prevention.

Risk of death would be weather related - hail, tornadoes, fire, lightening.

Risk of death would be weather related ; however, dogs, vandals, dumb asses with firearms would not....

 

[Dusty Britches]

But does $6.31 / $100 value sound right? Too high?

 

[Lee VanRoss]

But does $6.31 / $100 value sound right? Too high?

You tell us,,,,,,,,,,,,, Take one animal valued at $1000. @ $6.31 per $100 for 5 years times the number you want insured.

 

[callmefence]

But does $6.31 / $100 value sound right? Too high?

For what I assume you to be getting that seems to high. Only loss, no liability. Certainly has a terrorism exclusion and probably a exclusion for "bad feed" most I've seen do
The deductible will make single losses a wash. I carried one for a couple of years 15 years or so back . Seems like it was about 700.00 for 60 ish head. As we started adding cattle and land It started going up to much and I dropped it.
For comparison I carry a inland marine policy on equipment that gets left on job sites for less than half that rate.
All that said it wouldn't be to much if something bad happened. If it makes you sleep good. Priceless

 

[TexasRancher]

You tell us,,,,,,,,,,,,, Take one animal valued at $1000. @ $6.31 per $100 for 5 years times the number you want insured.

Yes, good easy way to look at it. It is a personal judgement call...for myself running those numbers...nope not for me.

 

[Caustic Burno]

Thank you for the replies. My agent said it is one policy that covers theft and death loss. It's $6.31 / $100 of value. Does that sound right?

Part of me thinks theft risk is very low because I'm surrounded by other ranches but part of me thinks someone may still come. I follow all of the recommendations from TSCRA for prevention.

Risk of death would be weather related - hail, tornadoes, fire, lightening.

I am not paying near that but I only have theft and collision.
Cow is born looking for a way to commit suicide, I am surprised that it's that low for death.

 

[CalumetFarms]

But does $6.31 / $100 value sound right? Too high?

Sounds high if I'm reading that right, I have 50 head at 1,400 ea for couple hundred dollars/year premium. It's an easy choice.
Also for what it's worth, when I was speaking to my agent he pointed out that for them if it's over $2,499 they need vet confirmation what it died from.

 

[Dusty Britches]

Liability is already covered under liability, so this is property loss. And, they only insure up to $2500 for single animal value.

Yes, I think it is really high and I think I'll pass on it, especially considering the level of risk of theft or death loss.