Liability insurance
- Thread starter LCCattle
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True Grit Farms
Well-known member
I would have to think anyone who owns anything has liability insurance. We have
Farm Bureau for now, and American National for some blanket coverage. You need at least 1m in liability insurance. IMO
Farm Bureau for now, and American National for some blanket coverage. You need at least 1m in liability insurance. IMO
JMJ Farms
Well-known member
Mine is with nationwide agribusiness.
M-5
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Farm bureau here
Workinonit Farm
Well-known member
I'm not in TN, but our farm policy is with Farm Bureau and our business policy is with Erie.
littletom
Well-known member
Mine is with ky farm Bureau I have 1 million.
John SD
Well-known member
State Farm here. $100K/$300K automotive liability. $1M umbrella policy over and above that.
f150fatboy
Well-known member
State Farm here as well.
Thanks guys, that helps a lot. Now here's my situation. I have never carried farm liability insurance. I also can give you a thousand reasons why I should but here is why I have not. It was not cost effective for my small operation, nor did the benefits out way my risk based on my location and management practices. But because I am now changing my farm operation I feel I should carry farm liability insurance but I would not like to pay for double coverage.
Here is the problem I have run into. All my other insurance is with Allstate and they do not offer farm insurance.
I check with Farm Bureau and they want all my insurance or non. So, does your insurer require that have all your insurance with them to sell you farm insurance? & What does 1 million dollars of farm insurance cost per year?
Here is the problem I have run into. All my other insurance is with Allstate and they do not offer farm insurance.
I check with Farm Bureau and they want all my insurance or non. So, does your insurer require that have all your insurance with them to sell you farm insurance? & What does 1 million dollars of farm insurance cost per year?
You can request a quote from cni. I will let them know what happens.
http://www.carlnelsonins.com/contact
http://www.carlnelsonins.com/contact
Workinonit Farm
Well-known member
LCCattle":3cf5rutx said:
No. Our business ins. is with Erie, our auto is with Progressive, our farm and life ins. is with Farm Bureau.
Farm Bureau tried to get us to switch our auto to them, as a bundle. We showed them our rate and they couldn't match what we had with Progressive.
All of our policies are with State Farm because we get multiple discounts. The Farm/Ranch runs 3800 annually & the umbrella for 1M is an additional 596. Keep in mind these can be included as expenses on your taxes.
Texas PaPaw
Well-known member
Best to have it all with same carrier or at least with same agency as all coverage needs to be coordinated to prevent coverage gaps and overlaps. Have seen some real fubar disasters when folks used multiple agents for their coverage. Are you willing to risk loosing ALL of your assets because someone left a gate open and cow got on road or someone gets injured on your property or something similar. Seen folks ruined financially because didn't have correct coverage for their risks or were too cheap to buy relatively inexpensive, adequate liability coverage.
littletom
Well-known member
All my insurance is with farm bureau, except car insurance. It is with state farm, Fb could or would not write a policy for my H2a vans, they way I am required to cover that. I am very pleased with FB as a provider.
I agree with those who say bundling is the most cost effective way to go. At least for me I have found it is, as age medical history, property appraisal and driving record etc comes into play with insurance companies. I also don't think changing insurance companies is a good idea unless there is a significant savings or other reason and you fully know the differences in the policies. You just may be giving up some coverage for a cost savings.
The reason for my question was I'm diversifying from a cow/calf operation to include the harvesting and sale of hay which will now require me to travel more on roadways and I feel I now need additional liability coverage. I put a farm tag ( TN "J" tag ) on my truck to get out from under a CDL drivers license, weight restrictions. No trailer tags and some safety regulations. So now, as I no longer carry liability insurance on my truck, ( which no one can tell me if that is legal or not ) and I say it is as my truck is now, by definition, " B (i) Vehicles that are controlled and operated by a farmer or nursery worker that are used to transport either agricultural products, farm machinery, or farm supplies to or from a farm or nursery, and are not used in the operations of a common or contract motor carrier and are used within one hundred fifty (150) miles of the person's farm or nursery; " As are my tractors and 4 wheeler that do not require liability insurance to travel on roadways.
BUT, that is not a risk I am willing to take, so my intent is to take the savings ( $358. per yr. ) from not carrying liability on my truck and applying it to an agribusiness policy that will cover all my on roadway activities/equipment, including my truck, plus any other off road liabilities not already covered by my home owners or state law (http://www.tnfarmbureau.org/content/bov ... -available ) . So I'm looking for an ins. co. that will write an agribusiness policy with out moving all my insurance at an acceptable price.
The reason for my question was I'm diversifying from a cow/calf operation to include the harvesting and sale of hay which will now require me to travel more on roadways and I feel I now need additional liability coverage. I put a farm tag ( TN "J" tag ) on my truck to get out from under a CDL drivers license, weight restrictions. No trailer tags and some safety regulations. So now, as I no longer carry liability insurance on my truck, ( which no one can tell me if that is legal or not ) and I say it is as my truck is now, by definition, " B (i) Vehicles that are controlled and operated by a farmer or nursery worker that are used to transport either agricultural products, farm machinery, or farm supplies to or from a farm or nursery, and are not used in the operations of a common or contract motor carrier and are used within one hundred fifty (150) miles of the person's farm or nursery; " As are my tractors and 4 wheeler that do not require liability insurance to travel on roadways.
BUT, that is not a risk I am willing to take, so my intent is to take the savings ( $358. per yr. ) from not carrying liability on my truck and applying it to an agribusiness policy that will cover all my on roadway activities/equipment, including my truck, plus any other off road liabilities not already covered by my home owners or state law (http://www.tnfarmbureau.org/content/bov ... -available ) . So I'm looking for an ins. co. that will write an agribusiness policy with out moving all my insurance at an acceptable price.
bird dog
Well-known member
I recently switched from Farm Bureau for the farms and State farm for the autos, home, and boat to a policy with American National. The farm policy seemed to be better and the cows are now insured. Grouping it all together saved enough to pay for the 1 Mil umbrella which cost $541/yr.
I had not heard from a Farm Bureau agent since I signed up three years ago so I called to speak to him only to find out he no longer worked there. They couldn't tell me whom my new agent was but it was not the one whose picture was on the magazine they send out.
I had not heard from a Farm Bureau agent since I signed up three years ago so I called to speak to him only to find out he no longer worked there. They couldn't tell me whom my new agent was but it was not the one whose picture was on the magazine they send out.
