Services – Farm

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FARM

Kent & Essex can offer a very attractive farm package customized to meet your individual needs. Please contact a broker about any questions or concerns regarding the type of coverage best suited to your particular situation.

There are five different sections to a farm policy:

• Residential Property Coverages (Farmowners)
• Farm Property Coverages (Farm buildings, machinery, produce and livestock)
• Residential Property Limited Coverages (Rented dwellings, seasonal, mobile homes)
• Miscellaneous Coverages (Jewellery, furs, watercraft, etc.)
• Farm Liability (Including Farmer’s Limited Pollution Liability Insurance at a maximum limit)

Farmowners Package
Includes coverage for your home, private structures, personal property, additional living expense, sewer back-up for $10,000 and identity theft. You can also add additional miscellaneous coverages. It is very important that you establish a proper replacement value for your home and our brokers can help in establishing that value.

Facts of Farm Property Coverages:
Your insurance coverage on farm produce, farm machinery and farm livestock are subject to a Co-Insurance percentage of 80%. You therefore need to maintain a limit of insurance on these items to at least 80% of the value of this property.

Your farm property is subject to the policy deductible. You may be able to lower your premium by buying higher deductibles.

All claims will be settled on an Actual Cash Value basis unless Replacement Cost is stated on the policy. Actual cash value will take into account depreciation of the property based on the age of the damaged property. Replacement Cost settlements do not take depreciation into account provided you actually replace or repair the damaged property.

Some farm buildings may be subject to a Rebuilding Clause depending on the condition. If you replace or repair the damaged property then you will receive the full amount of any loss up to the amount specified on the declaration page. If you do not repair or replace then you will only receive a specified percentage of the amount of loss payable.

Farm Earnings Insurance
This will come into play after you have a loss and you need income to continue with your farming operations. Earnings Insurance will do for you what your farm operation would have if such an interruption had not occured.

Farm Liability
Your Farm Liability Coverage will protect you from legal liability arising out of injuries to a Third Party Person or damage to a Third Party’s Property in the course of your personal activities as well as your farm activities. This coverage also includes Voluntary Medical Payments, Voluntary Property Damage and Tenants’ Legal Liability as described in the Farm Policy. This coverage also includes Farmer’s Limited Pollution Liability Insurance up to a specified limit stated on the policy.

For complete details on any of the above coverages please contact a broker in your area.