Questions to Ask Your Agent During Your Farm/Ranch Insurance Policy Review

Jan 10, 2024 2 min read

Your needs can change quickly. That means each year you'll want to review your farm and ranch coverages with your local Farm Bureau agent. This can help ensure that your ag operation is protected. 

Yes, it can feel overwhelming to think about all the things that could go wrong on your farm or ranch, but your agent is available to help make sure you have coverage in place–protecting your livelihoods and futures. 

What Can I Expect During My Farm/Ranch Insurance Annual Review?

Your annual insurance policy review will be conducted by a Farm Bureau, AgWise Certified®, local insurance agent trained to understand your agricultural insurance needs and provide the right recommendations for your operations. Agents are supported by a team of dedicated Ag Marketing Underwriters who may spend time on your farm or ranch so they can understand your operation. These professionals work together with your local agent to review both your property and day-to-day operations.

Before writing your quote, we’ll conduct a thorough analysis of your farm or ranch operation. We’ll assess the value of buildings, livestock, machinery, and other property. Every year after that, we will meet for a SuperCheck® to ensure your coverage keeps pace with your operation.

What Should I Ask My Agent?

Your annual insurance review is a good time to think about any past or future changes to your farm operation. It’s important to ask your Farm Bureau agent the right questions so they can identify insurance options to close potential coverage gaps. Consider asking these types of questions at your annual insurance review when you meet with your Farm Bureau agent.

What’s My Deductible?

When you meet with your agent, ensure your deductibles are appropriate based on your overall coverage and your coverage needs Your agent will be able to advise you on deductible options.

I Hired Employees. What Coverage Should I Consider? 

Because accidents can happen, an additional coverage you might want to consider is workers’ compensation insurance. This type of coverage can protect you (as the business owner) and your business from the high cost of unexpected workplace injuries to your employees. While benefits vary by state, workers’ compensation insurance offers protection in the event of an employee injury. This coverage generally provides benefits to an injured worker or the worker’s dependents for medical, disability benefits, rehabilitation, and death benefits.

How Can I Protect My New Equipment?

New farm equipment often comes with a big price tag. You want to be sure your new tractor, combine and additional equipment is protected. With Replacement Cost Coverage for Farm Machinery, if your machinery is damaged beyond reasonable repair due to fire, collision, or other covered occurrence, we’ll help pay to replace it. This refers to equipment of the same make and similar model, without depreciation. This coverage is available for machinery up to eight years old and applies to combines, tractors, skid loaders, backhoes, planters, sprayers, cotton pickers, and balers.

I’ve Expanded into Livestock. What Coverage Should I Get? 

If you live in an area that experiences extreme weather, the elements can be dangerous to your livestock. Our livestock freezing or smothering coverage covers blizzard-related livestock loss. We also offer suffocation coverage for loss of livestock in confinement due to suffocation.

How Can Crop Insurance Protect My Ag Operation?

The weather can be harsh and unpredictable. Our certified crop and livestock agents can help you get the coverage you need to manage your operation’s specific risks. Through our relationship with Rain and Hail, LLC, we can offer a full suite of crop insurance products, including federal crop insurance, crop hail, livestock, and specialty crop lines.

Am I Eligible for Discounts?

The benefit of reviewing your coverage(s) with your agent during your annual insurance review could uncover potential savings that you didn’t qualify for in the previous year.

We believe strong working relationships should be rewarded. When you insure your farm or ranch with Farm Bureau Financial Services, you could be eligible for our Ag Advantage and Ag + Rewards discounts, both of which can continue to grow over time. The more coverage you add, the more you get rewarded. Add auto coverage to your existing ag policy to earn a discount. Add umbrella coverage, and you could save even more.

Coverage for Your Entire Operation

Connect with a local Farm Bureau agent to schedule your On-Site SuperCheck today. With an annual On-Site SuperCheck, Farm Bureau will conduct a thorough analysis of your farm or ranch operation. The results will help ensure your coverage is ready for the year to come.

Want to learn more?

Contact a local FBFS agent or advisor for answers personalized to you.