Farm Insurance

Question 1

What policy covers the primary residence and personal property?

Answer 1

Personal lines

Question 2

What policy covers operations, outbuildings, equipment, or farm products?

Answer 2

commerical lines

Question 3

Who is considered a named insured for farm liability?

Answer 3

partners, spouse, D&O. shareholders, residence employees

Question 4

What is considered farming?

Answer 4

crops, livestock, bee keeping, winery

Question 5

What is considered custom farming?

Answer 5

when you are doing farm operations for others

example- baling hay. Its like a contractor for farming activities

Question 6

What makes up a farm dwelling?

Answer 6

the main building+ extensions

basically- residences+detached structures for personal use.

Question 7

True or false

farm homeowners provides the same coverage options as personal lines

Answer 7

True

Broad form, comprehensive etc

Question 8

true or false

buildings used for farm operations are covered under the farm owners policy

Answer 8

false.

Anything used for farm operations is covered under the commercial part of the policy

Question 9

What is considered an occupied farm?

Answer 9

when the dwelling on the farm is used as a principal residence

Question 10

When would replacement cost be used for farm buildings

Answer 10

if replacing with like kind and quality

Question 11

When is Actual cash value used when settling a farm building claim?

Answer 11

When not rebuilding or rebuilding a different building.

Question 12

What does the average distribution clause endorsement cover?

Answer 12

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.

Question 13

to have the water endorsement, how often must the building be checked during the heating season?

Answer 13

every 96 hours

Question 14

How is farm equipment and machinery insured?

Answer 14

on an all risk or broad form basis.

Question 15

True or false

You can included both scheduled and blanked coverage on the same policy

Answer 15

false

It must be one or the other, not both.

Question 16

What is the maximum amount per item under misc farm equipment?

Answer 16

$2500

Get separate coverage for $$$ items

Question 17

True or false

Live stock is covered under named perils only

Answer 17

true

broad form available through specialists

Question 18

Define casting

Answer 18

when an animal can’t get up

Question 19

What is hardware disease

Answer 19

if an animal swallows something it should have and dies.

Question 20

Name 2 livestock extentions

Answer 20

1. dead stock removal- cause must be due to insured event

2. veterinary supplies- while animal on farm premises

Question 21

What conditions are covered under limited morality under livestock coverage?

Answer 21

casting
hardware disease
colic
bloat
rabies
bones fractured
black leg
animal birth

Question 22

How is farm produce insured?

Answer 22

Broad form with named perils OR restricted named perils. Usually blanket on a class basis

Question 23

what does apiary products liability cover?

Answer 23

hazards during honey making

Question 24

What does employers liability cover?

Answer 24

coverage for farmers if they are liable for injuries sustained by an employee or volunteer sustained through the course of the farm operations

Question 25

When did Alberta pass legislation making WCB mandatory for all paid farm employees?

Answer 25

Jan 1 2016