Premier Cash Crop Insurance

A deductible is the amount that you agree to pay (out of pocket) for claims-related expenses before your insurance company pays for the remaining costs.

Let’s say you have an accident and the total approved cost to repair damages is $5,000. If you chose a $500 deductible when you purchased your policy, you would need to pay for the first $500 worth of expenses, and we would cover the remaining $4,500.  

Although this is how a deductible applies on most policies, we will waive the deductible for Premier policies with a loss that exceeds $50,000 or 10 times the deductible amount you’ve chosen.

TIP: Choosing a higher deductible will lower your insurance premium. Just be prepared to pay for any costs up to that deductible amount when you need to make a claim.

Our definition of farm produce includes harvested crops, seeds, herbicides, pesticides, commercial fertilizers, milk, eggs, fruit, vegetables, and anything that’s an agricultural product of the soil. This coverage also extends to packing, wrapping, and advertising materials used with harvested produce.

With Premier Cash Crop Insurance, your farm produce is automatically covered for $100,000 for no charge, and coverage is broad form, including consequential loss with no co-insurance. No co-insurance still applies if this coverage is increased.

If you forget about produce in bins at a location you rent and lose produce, there is no-co insurance clause. The full $100,000 automatic coverage – or more, if increased – would apply to your lost grain at that location. Your standing and swathed grain, seed, hay and straw crops are also automatically covered for up to $100,000. Coverage is provided for losses caused by fire, vandalism or malicious acts and theft.

To clarify, any equipment that is attached to the building is NOT considered farm machinery — it’s insured as “building including equipment.”

Farm machinery coverage options:

1. Choose one blanket limit — if you pick this option, ALL machinery must be insured
2. List only the specific machinery you want to insure
3. List the larger equipment and blanket the smaller items (valued at under $5,000 per item)

Farm machinery is settled on an actual cash basis at the time of the loss, but we’ll agree to pay replacement cost when the farm machinery is 5 years old or less. Partial losses are covered for the cost of repairs without deduction for the depreciation of parts.

If you find yourself in a scenario where your combine is damaged in the middle of harvest season and needs repairs, forcing you to either hire a custom operator or rent another combine, we’ve got you covered. This policy provides up to $300,000 coverage to pay for either of these solutions.

This policy has increased coverage for custom farming up to $50,000. This not only gives you liability coverage protection for any property you may damage, but the increased receipts do not affect your farm machinery rate. Additionally, this provides replacement cost coverage if the machine is less than five years old as well as loss of use coverage.

Farming in not just a business — it’s your way of life, and it’s where you live. Having the right liability protection in place is extremely important, and that’s why we can cover your personal, farm, and commercial liability needs on one policy. Depending on your operation, we may be able to offer liability limits of up to a maximum of $12 million.