INSURANCE INCREASE

My Farm Bureau Policy just went up $2000 in one year. No claims in past 10 years. What “FARM
POLICY” do you guys carry? I know a Farm Policy differs from a regular policy.

It's not your claims you're paying for. Inflation, location, cost of materials & labor are the driving factors. Just about everyone's homeowners went up significantly.

Thanks, but I’m not looking at why rates are rising; I’m looking for ranchers who may be insured with Germania, State Farm Ranch, Farmers Ranch, Nationwide Ranch, or some independent; that they feel is a better fit.

Are you talking liability, equipment or crop?

No crop, liability barely went up, main increase was on house and barn.

PM Hudbone

Not a ranch or farm, but we've had Germania for 15 years and love them. Farm Bureau we had on a couple of properties, but they were more expensive than Germania (Germania wouldn't cover them at the time because they weren't occupied). I'd definitely check out Germania. I would probably keep the Farm Bureau membership (I think it's $50/year) just because you get GREAT discounts at hotels, on cars, etc. with it.

The Ferrell Gas driver said Farm Bureau members save about a buck a gallon on propane.

My Hochheim Prairie Farm Mutual policy didn't go up a dime.

I have been an Agent with Farm Bureau for 22 years . If I can answer any questions just let me know. From what I have see all companies are going up. All building materials have gone through the roof. If your policy increased $2000. You need to check roof age . It is probably showing you have an older roof on the policy.
If your properties were vacant you were paying a surcharge for that.
Our local propane provider is charging over $3.00 a gallon and I just filled up for $1.55 a gallon with Ferrell gas.

Been doing this for almost 40 years, been through the RTC fiasco, 08/09 craziness and other economically "influential" times, but I have never seen a time like what we are going through right now.

Mold was close but that just affected home coverage.

Why did you have to mention the M word. That was crazy! Hahaha

I’m about to look for a liability policy for my rural property. I recently heard about a landowner who got sued for damages by somebody he didn’t know.

Check with your current Home insurance provider. Some companies will extend liability from Home insurance to investment and ag property.