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Anonymous
Do any of you registered cattle owners carry insurance on your cows and bulls? If so, do you find it has paid off or do you just keep paying for it?
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Anonymous
Yes. We have a comprehensive Farm & Ranch Policy as well as a Equine Mortality and Major Medical policy. Our F&R policy covers our cattle, hay in the barn, and other options as well as basic liability, buildings & structures, etc.
Hopefully, I will never have to make a claim. In the event I do, the premiums I pay are small considering our coverage; and, a disaster could wipe us out (as it would anyone else) if we/they did not have insurance.
For example, complete coverage on a $10,000 horse is a great security blanket for $300 to 500 a year premium. In our case, for example, the $50 a year or so premium we pay on our hay insurance component speaks for itself.
Bottom line...if you are independently wealthy, forget the insurance. If you are like the vast majority of Americans, insurance is just that...a security blanket for a catastrophe.
[email protected]
Hopefully, I will never have to make a claim. In the event I do, the premiums I pay are small considering our coverage; and, a disaster could wipe us out (as it would anyone else) if we/they did not have insurance.
For example, complete coverage on a $10,000 horse is a great security blanket for $300 to 500 a year premium. In our case, for example, the $50 a year or so premium we pay on our hay insurance component speaks for itself.
Bottom line...if you are independently wealthy, forget the insurance. If you are like the vast majority of Americans, insurance is just that...a security blanket for a catastrophe.
[email protected]
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Anonymous
I've gotta agree with Bill. We're commercial and have never had to collect on our insurance, but the few bucks a head it costs a year would be well worth it if any of the cows died or got out on the road.
dun
> Do any of you registered cattle
> owners carry insurance on your
> cows and bulls? If so, do you find
> it has paid off or do you just
> keep paying for it?
[email protected]
dun
> Do any of you registered cattle
> owners carry insurance on your
> cows and bulls? If so, do you find
> it has paid off or do you just
> keep paying for it?
[email protected]
OP
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Anonymous
> WE had insurance- but dropped it. Ours only covered certian types of death. - drowning, hit by lightning, etc.. It did not cover just a cow dieing, by such as hardward disease, falling down and cant get up, falling and breaking a hip or leg etc... If one got shot, or hit by a car, yes, it would be covered. But chances of that are slim. We decided not to keep coverage on the cows.
>
>
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Anonymous
we keep liability insurance (not for us for others)......if a cow gets out & a car hits it or if someone is on your place & gets hurt by a cow (hired help policy is different).
as for life insurance on the cows, no we do not have that. sometimes when we purchase bulls at sales we will get coverage for the drive home which usually runs a while after they get arrive. unless i had a really expensive animal (& depends on your situation what you classify as expensive---a breeder we know lost a 100,000 bull which i'm pretty sure was insured), i wouldn't insure it.
kind of like car insurance....once the value is less than your premium, do you keep full coverage or just liability? just my opinion. everyone's operation is different.
as for life insurance on the cows, no we do not have that. sometimes when we purchase bulls at sales we will get coverage for the drive home which usually runs a while after they get arrive. unless i had a really expensive animal (& depends on your situation what you classify as expensive---a breeder we know lost a 100,000 bull which i'm pretty sure was insured), i wouldn't insure it.
kind of like car insurance....once the value is less than your premium, do you keep full coverage or just liability? just my opinion. everyone's operation is different.
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Anonymous
The health insurance, if that's how you calssify it is rolled into the liability but is only on purchased cows, born and raised cows only have liability. It's kind of a herd deal, if we add or delete cows it doeasn't change the 12 bucks a year that it costs. Maybe when we don;t have any purchased cows left we drop it. Now all I have to do is quit falling for the pretty faces so I'll stop buying heifers.
dun
> we keep liability insurance (not
> for us for others)......if a cow
> gets out & a car hits it or if
> someone is on your place &
> gets hurt by a cow (hired help
> policy is different).
> as for life insurance on the cows,
> no we do not have that. sometimes
> when we purchase bulls at sales we
> will get coverage for the drive
> home which usually runs a while
> after they get arrive. unless i
> had a really expensive animal
> (& depends on your situation
> what you classify as expensive---a
> breeder we know lost a 100,000
> bull which i'm pretty sure was
> insured), i wouldn't insure it.
> kind of like car insurance....once
> the value is less than your
> premium, do you keep full coverage
> or just liability? just my
> opinion. everyone's operation is
> different.
[email protected]
dun
> we keep liability insurance (not
> for us for others)......if a cow
> gets out & a car hits it or if
> someone is on your place &
> gets hurt by a cow (hired help
> policy is different).
> as for life insurance on the cows,
> no we do not have that. sometimes
> when we purchase bulls at sales we
> will get coverage for the drive
> home which usually runs a while
> after they get arrive. unless i
> had a really expensive animal
> (& depends on your situation
> what you classify as expensive---a
> breeder we know lost a 100,000
> bull which i'm pretty sure was
> insured), i wouldn't insure it.
> kind of like car insurance....once
> the value is less than your
> premium, do you keep full coverage
> or just liability? just my
> opinion. everyone's operation is
> different.
[email protected]
OP
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Anonymous
Hey dun...
Where did you find mortality coverage for $12 a year???
Our coverage is limited to $1000 per animal, plus a $1000 deductible per loss. One cow gets shot (that has happened, but with a different insurance company)and we get nothing. A tornado comes through and wipes out all the calves in the lot, it would be worth it. It only pays for accidents, etc. No payments for plain old death loss (which is minimal anyways).
We've had mortality on expensive bulls before the the minimum was always $300 a year, premiums are based on the price of the animal.
Where did you find mortality coverage for $12 a year???
Our coverage is limited to $1000 per animal, plus a $1000 deductible per loss. One cow gets shot (that has happened, but with a different insurance company)and we get nothing. A tornado comes through and wipes out all the calves in the lot, it would be worth it. It only pays for accidents, etc. No payments for plain old death loss (which is minimal anyways).
We've had mortality on expensive bulls before the the minimum was always $300 a year, premiums are based on the price of the animal.
OP
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Anonymous
> Do any of you registered cattle
> owners carry insurance on your
> cows and bulls? If so, do you find
> it has paid off or do you just
> keep paying for it?
We switched our homeowner's policy to a farm policy about a year ago and the premium went down 5 dollars. Several things are covered, drowning and gunshot are a couple I remember. They will pay "market value", I'm sure they'd screw me on that. I have not had a claim, it is Shelter Insurance.
> owners carry insurance on your
> cows and bulls? If so, do you find
> it has paid off or do you just
> keep paying for it?
We switched our homeowner's policy to a farm policy about a year ago and the premium went down 5 dollars. Several things are covered, drowning and gunshot are a couple I remember. They will pay "market value", I'm sure they'd screw me on that. I have not had a claim, it is Shelter Insurance.
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Anonymous
We don't carry any special insurance on our registered stock. But we don't have any high dollar cattle. I doubt we've paid more than $2000 for anything in the pasture. It would hurt to lose them, but over time, I just don't see the benefit. My ABS rep came by to fill the tank yesterday and his neighbor had lost a $10,000 uninsured cow. If I had that sort of money tied up in something, I'd look into insurance.
Do any of you registered cattle
> owners carry insurance on your
> cows and bulls? If so, do you find
> it has paid off or do you just
> keep paying for it?
Do any of you registered cattle
> owners carry insurance on your
> cows and bulls? If so, do you find
> it has paid off or do you just
> keep paying for it?
OP
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Anonymous
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Anonymous
Farm bureau, but like I said, it's all rolled into everything else
> Hey dun...
> Where did you find mortality
> coverage for $12 a year???
> Our coverage is limited to $1000
> per animal, plus a $1000
> deductible per loss. One cow gets
> shot (that has happened, but with
> a different insurance company)and
> we get nothing. A tornado comes
> through and wipes out all the
> calves in the lot, it would be
> worth it. It only pays for
> accidents, etc. No payments for
> plain old death loss (which is
> minimal anyways).
> We've had mortality on expensive
> bulls before the the minimum was
> always $300 a year, premiums are
> based on the price of the animal.
[email protected]
> Hey dun...
> Where did you find mortality
> coverage for $12 a year???
> Our coverage is limited to $1000
> per animal, plus a $1000
> deductible per loss. One cow gets
> shot (that has happened, but with
> a different insurance company)and
> we get nothing. A tornado comes
> through and wipes out all the
> calves in the lot, it would be
> worth it. It only pays for
> accidents, etc. No payments for
> plain old death loss (which is
> minimal anyways).
> We've had mortality on expensive
> bulls before the the minimum was
> always $300 a year, premiums are
> based on the price of the animal.
[email protected]
OP
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Anonymous
Heck, Farm Bureau even covers the animal if it's injured during transport -- with our policy, once the animal is loaded onto our trailer, it's covered. Personally, I like Farm Bureau. Our insurance costs are cut in half since we switched to them, and we have much better coverage.
Ann B
> Farm bureau, but like I said, it's
> all rolled into everything else
[email protected]
Ann B
> Farm bureau, but like I said, it's
> all rolled into everything else
[email protected]
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Anonymous
Country Companies is through the Farm Bureau, but they don't cover a cow that just up and dies.
