Farm Insurance Flashcards
What policy covers the primary residence and personal property?
Personal lines
What policy covers operations, outbuildings, equipment, or farm products?
commerical lines
Who is considered a named insured for farm liability?
partners, spouse, D&O. shareholders, residence employees
What is considered farming?
crops, livestock, bee keeping, winery
What is considered custom farming?
when you are doing farm operations for others
example- baling hay. Its like a contractor for farming activities
What makes up a farm dwelling?
the main building+ extensions
basically- residences+detached structures for personal use.
True or false
farm homeowners provides the same coverage options as personal lines
True
Broad form, comprehensive etc
true or false
buildings used for farm operations are covered under the farm owners policy
false.
Anything used for farm operations is covered under the commercial part of the policy
What is considered an occupied farm?
when the dwelling on the farm is used as a principal residence
When would replacement cost be used for farm buildings
if replacing with like kind and quality
When is Actual cash value used when settling a farm building claim?
When not rebuilding or rebuilding a different building.
What does the average distribution clause endorsement cover?
The amount of insurance on a single item as it compares to the total value insured. When the limit insured is less than the value, the gap is spread over all the items insured
% of that building divided by overall values.
to have the water endorsement, how often must the building be checked during the heating season?
every 96 hours
How is farm equipment and machinery insured?
on an all risk or broad form basis.
True or false
You can included both scheduled and blanked coverage on the same policy
false
It must be one or the other, not both.
What is the maximum amount per item under misc farm equipment?
$2500
Get separate coverage for $$$ items
True or false
Live stock is covered under named perils only
true
broad form available through specialists
Define casting
when an animal can’t get up
What is hardware disease
if an animal swallows something it should have and dies.
Name 2 livestock extentions
- dead stock removal- cause must be due to insured event
2. veterinary supplies- while animal on farm premises
What conditions are covered under limited morality under livestock coverage?
casting hardware disease colic bloat rabies bones fractured black leg animal birth
How is farm produce insured?
Broad form with named perils OR restricted named perils. Usually blanket on a class basis
what does apiary products liability cover?
hazards during honey making
What does employers liability cover?
coverage for farmers if they are liable for injuries sustained by an employee or volunteer sustained through the course of the farm operations
When did Alberta pass legislation making WCB mandatory for all paid farm employees?
Jan 1 2016
