Cow Attack Insurance

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When we got here in Oregon the fences were a joke of sagging barb wire held together with baling twine. Our home owners insurance was more worried about our German Shepherd than the real financial threats.

The leasors black cattle were out on the highway most nights. People would beep their horns and another midnight rodeo for us. I don't think out homeowners insurance covered other peoples cattle. The fences of the owners have the liability.

My husband and I fenced the whole place with wood posts and cattle panels. No more fence crawling cattle and the place is horse safe.
 
Moooooo said:
I appreciate the help, but I have called everyone in the universe. Today I talked to a guy who does nothing but insure farms, and he said I have to have horses plus a horse barn in order to get insurance through his carriers. Cattle are dealbreakers. Even my 8 scrawny tax-dodge cattle.

Looks like I'm stuck with my existing insurer. Not the end of the world, but I had to see if I could do better.

There is a real crisis in Florida. Desperate insurance companies seem to be trying to screw people who live in the middle of the state, where hurricane damage is low, in order to pay for the huge losses they incurred from storms that wiped out homes near the coasts. Where I am, we have never gotten hurricane-force winds. We get some damage, but it's not very bad. I lived in Coral Gables during Andrew, so I know what a real hurricane looks like.

My insurance went up around 70% this year, but I know a guy whose rate quadrupled.

I never thought cattle would be a problem. This is a rural county, after all. I'm going to try to find a new tax dodge. My understanding is that I can pretend to be a forest conservationist in order to cover most of my property.
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There's got to be somebody around with cattle that you can talk to. Any sale barns around? Go to one and start a conversation in the cafe.
 
Moooooo said:
I appreciate the help, but I have called everyone in the universe. Today I talked to a guy who does nothing but insure farms, and he said I have to have horses plus a horse barn in order to get insurance through his carriers. Cattle are dealbreakers. Even my 8 scrawny tax-dodge cattle.

Looks like I'm stuck with my existing insurer. Not the end of the world, but I had to see if I could do better.

There is a real crisis in Florida. Desperate insurance companies seem to be trying to screw people who live in the middle of the state, where hurricane damage is low, in order to pay for the huge losses they incurred from storms that wiped out homes near the coasts. Where I am, we have never gotten hurricane-force winds. We get some damage, but it's not very bad. I lived in Coral Gables during Andrew, so I know what a real hurricane looks like.

My insurance went up around 70% this year, but I know a guy whose rate quadrupled.

I never thought cattle would be a problem. This is a rural county, after all. I'm going to try to find a new tax dodge. My understanding is that I can pretend to be a forest conservationist in order to cover most of my property.
Click to expand...
Cattle is NOT a problem with the farm, ranch, and estate policies. What the guy you were talking to was saying, is he does equine liability policies, which will run lower than ranch liability. But, you can have cattle as "incidental" on an equine liability policy.
 
At some point I believe people living in Florida and coastal areas will "smarten up" and "give up" with insurance altogether and flock towards being self-insured if they don't have a mortgage. Once people start flocking out of expensive homeowners insurance, which they are already..... prices will increase for the rest of the nation....which is happening. I ran the calculations and risks 5 years ago when my premuim encroached $2,000./yr even while increasing my deductible and wind/hail to the max 5 to 7%...so we said our good byes. Self-insurance works better for me, I can fix or replace my home or barn. Hail is no big deal. I'm ready to install one of those lifetime metal roofing systems whenever I need too. Tornadoes are rare here, home is good for 140 to 160 MPH, is mostly fire-resistant and wired/plumbed/plumbing done right....no banked-embankment landslides either.
 
When we moved/retired from the ranch, we could insure our home for what we paid for it or any other figure we chose. And we were asked for a figure to insure the contents of the house.

The rules changed...

Now, to have insurance, we are required to insure for "replacement value", and the contents of the house are rated at a percentage of that value. Our replacement value is five times what we paid for the house and double what we could buy a similar house for in the area. And the contents figure is multiples of what we value the contents at.

So we either have insurance at very high rates compared to actual value or have to self insure. Retired and fixed income doesn't help.
 
Warren Allison said:
Cattle is NOT a problem with the farm, ranch, and estate policies. What the guy you were talking to was saying, is he does equine liability policies, which will run lower than ranch liability. But, you can have cattle as "incidental" on an equine liability policy.
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Not correct. I talked to numerous insurers. Cattle are a problem in 2023.
 
Hey, I'm open to suggestions. Marion County, Florida. But I spent over a week calling every insurer and broker I could find, and every single one told me the same thing. I'll bet you can't name anyone I didn't call.
 
All those storms in the southeastern part of the USA are having a ripple effect on insurance. The insurance keeps climbing.
Especially noticeable since Katrina.
 
From $3400 to $8000 in one year. And my area has never, in history, had sustained hurricane winds. They appear to be using people in low-risk areas to make up for their losses from the coasts.
 
Moooooo said:
Hey, I'm open to suggestions. Marion County, Florida. But I spent over a week calling every insurer and broker I could find, and every single one told me the same thing. I'll bet you can't name anyone I didn't call.
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Eqgroup doesn't even respond. Exactly what I expected. As I said before, I contacted every insurance company and independent broker in the area.
 
Moooooo said:
Eqgroup doesn't even respond. Exactly what I expected. As I said before, I contacted every insurance company and independent broker in the area.
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"Farm this." "Farm that." You name it. Called.
 
Citizens Property Insurance Corp. I knew I had read about Florida Insurance recently. It is the state's nonprofit insurer of last resort. It is run/owned by the state and when all the other companies started to leave Florida it is now the largest property insurer. Citizens is required by law to charge premiums at below-market rates and is under cutting private insurers. They may be able to help you at a reasonable price? Or like most Gub'mint, they create more problems than they solve?
 
I'm willing to try anything, but I recall having agents tell me they checked a company called Citizens. I can talk to them again.
 

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