Farm Personal Property coverages include items used in your farming operations, generally in three categories:

• Farm machinery and equipment
• Livestock
• Farm products (such as grain, silage, animal feed, pesticides, fertilizers, etc.)

Blanket or Scheduled

Most farm policies allow you to insure your Farm Personal Property on either a scheduled or a blanket basis:

• Scheduled property is listed by item on your policy’s declarations page, with a separate limit stated for each piece.
• Blanket coverages covers all farm personal property at the insured location (subject to inclusions) other than those listed as “not covered”.

Work with your agent to determine which method is best for you. Factors to consider.

• An insurer’s underwriting guidelines may require certain items to be scheduled.
• Scheduling higher valued items (such as a combine) can assure that you have adequate limits in place.
• Lenders often require scheduled coverage for an item under lien.
• Because co-insurance applies to Farm Personal Property, ensure that you have adequate limits in place.

Farm Machinery and Equipment

Coverage is typically provided for your farm machinery and equipment, including tractors, combines and cotton pickers just to name a few. It also covers farm office equipment, portable irrigation equipment, portable fences and structures, as well as tools and supplies. GPS equipment and all covered farm machinery and equipment are included in the Nationwide Agribusiness AgriChoice policy for Special Causes of Loss.

Livestock

Coverage is available to cover livestock under your farm policy. The AgriChoice policy provides broad causes of loss for livestock, and also offers an extension that covers death by accidental shooting or by being struck by a train or a vehicle.  Read more about livestock operations insurance.

Farm policies do not provide coverage for losses caused by livestock disease or from old age or natural death. Farm policies typically provide a special limitation on the value of any one animal (higher limits may be available).

Specialized coverage, known as Livestock Mortality, protects against livestock disease, old age, or death by natural causes. This usually requires your agent to acquire a separate policy from another insurer.

Farm Products

It is important to consider the causes of loss that apply to different items of Farm Personal Property. For example, check your policy to determine if it covers grain stored in the open. The AgriChoice policy provides this coverage but limits the applicable causes of loss. Generally, unless a policy restriction applies, farm products are covered under AgriChoice for basic causes of loss. Check your policy for special limits that apply to farm products.

Learn more about insuring poultry, livestock, and equine operations.

For more information on farm insurance options, please contact agent William DeLaPerriere.