10 ways you can prepare your business for a flood
Heavy rainfall, rapid melting of snow packs, and other weather-related events can often lead to flooding. In fact, the Red Cross cites flooding as the
Seed and Produce Farmers’ Insurance
From sowing the seeds to harvesting crops, a flourishing farm rests on a variety of tools, processes, and people.
We offer insurance coverage seed and produce farmers can count on.
What kind of insurance coverage do farmers need?
Farming depends on specialized equipment and exceptional quality control, and there can be costly consequences when things go wrong in either camp. We’ve compiled an insurance policy to address common challenges, concerns, and demands at each step of the way.
When can farmers’ insurance come to your rescue?
Problems can arise before seeds are even planted, but it can be months before the trouble blooms. Farmers can face major challenges when the weather turns on them, when seeds are compromised, or when their equipment breaks down. Make sure you’re covered for a range of scenarios by adding some specialized policy extensions to your basic Commercial General Liability (CGL), Property, and Auto insurance coverage.
Need more? No problem.
We have some helpful extensions too, like Seed Growers Errors and Omissions and Cyber Risk insurance.
Protect your barns, silos, and everything inside
Spring showers, winter storms, and the ever-present fire and flood dangers can challenge even the sturdiest of buildings. When you keep your greatest assets – equipment, machinery, or your seeds – in your barns and other farm buildings, you may be at risk for a major loss if the weather turns or an unforeseen event strikes.
Fortunately, comprehensive commercial property insurance will help you out in case a fire or a hailstorm ruins your barn, or an electrical event zaps your important machinery. Plus, you can tailor your coverage to suit the type and breadth of your farming operations.
We’ll help you out when your seeds don’t sprout
If your reputation rests on your flowers, there’s a lot riding on your arsenal of seeds. If a seed dealer sold a batch of petunia seeds to a nursery and the seeds failed to germinate for the busy spring season, the nursery could lay the blame – and their loss – on you. The expense could be large, but since no property was actually damaged, property liability coverage may not help you pay back the nursery.
The Seed Growers Errors and Omissions extension aims to pick up where your other insurance left off – when there’s only financial loss and no property damage. If your product fails to perform as expected, you’ll be covered for the economic loss that results, whether the problem is traced to errors in processing, germination failure, or even if your seeds don’t measure up to a specified variety or quality.
Protect your bottom line against cybercrime
If you work with a computer system, you’re vulnerable to cybercrime – regardless of your industry. For instance, a farm’s computer system could transmit a virus through its integrated inventory management software, disrupting the data that reaches customers. If those customers are unable to manage orders and inventory, they could lose a significant amount of income and sue you for damages.
Our Cyber Risk policy will help you here. It offers protection against lawsuits that stem from the transmission of computer viruses, helping your business stay afloat. Cyber Risk can also protect against losses resulting from network security breaches, privacy breaches, and internet media liability, plus policyholders have access to a consultation from a leading data risk management provider at no additional cost.
Managing Risk
We know that the risks your farm faces are different than the risks affecting other manufacturing businesses. We also believe that you can help safeguard your business against your unique set of risks with the right information and some smart guidance.
Our value-added services focus on helping you identify and mitigate the risks your business faces each day. An assessment of your farm buildings, along with thermal imaging of key electrical systems, can help uncover vulnerabilities in your equipment and materials. In-person consultations carried out by experienced risk management professionals can leave you with the knowledge and confidence you need to protect every aspect of the business you’ve worked so hard to build.
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