Farm Equipment Insurance

Equipment is one of the main investments in any operational farm. Farm equipment is vital to the success of almost any farming operation, whether it be a grain farm or a livestock operation. The proper insurance coverage goes way beyond just insuring the piece of equipment.

Hitchings Insurance provides cost-effective solutions to support and protect every type of agricultural business. Which means we’ve insured a lot of farm equipment. Let’s break down some of the coverages to consider for your equipment and see how we can help improve your peace of mind.

Farm Equipment insurance coverages to consider.

There are various insurances, including a range of coverages to safeguard farm equipment of any size or type.

Farm Equipment

In its most literal form, this is insurance against damages to farm machinery.

Primary Rented and Leased, Borrowed Equipment

Have you ever borrowed a neighbors machine or rented a piece of equipment? We cover that up to $250,000 on our standard farm plans.

Intake of Foreign Object

This coverage is needed on ALL combines and hay bines. If you pick up a rock, rusted fence post, or even a deer antler, and it runs through the machine’s internals, you’ll be left with a hefty repair bill without this endorsement. We help our farm partners with these claims EVERY year. Coverage is included at $25,000 but available up to $100,000 for newer machines.

Rental Reimbursement on Farm Machinery

If you have a claim on a machine, you will likely need a rental to take its place. We include $2,500 per day with a $25,000 maximum on our newly issued farm plans.

Special Form Coverage Extension

This is a machinery coverage form that broadens the equipment coverage that you receive. A standard form is for a named peril. This special form coverage broadens to an open peril form. Think about all the off-the-wall stories you’ve heard on the farm. Here are just a few of ours regarding farm equipment in recent years.

• Example 1.  A large raccoon took a nap in a brand-new John Deere S760. The farmer started the vehicle up in the spring and ran that animal through the belt drive systems. Damages were more than $25,000.

• Example 2. Vermin got into a tractor and chewed almost the machine’s entire wiring harnesses. This paid out more than $30,000.

How do we cover equipment?

  • Blanket Limits
    This is our preferred method of coverage for equipment as it simplifies the record keeping for our farm partners. We work with our farm partners on their inventory and determine an appropriate value.
  • Schedule Items
    We do require scheduled items in certain cases. All combines, headers and header carts are scheduled. The banks may also require certain financed items to be specifically scheduled, which we help facilitate as well.

Begin a conversation with our farm insurance specialists to help with your equipment and farm insurance needs. We can discuss options, review your concerns, and share a few tall tales.

Our Farm Insurance Promise

We value people, even more than the farms they operate, and make it our job to mitigate risks and leave no room for doubt. We actively listen, ask questions, and leverage our network of insurance carriers to find the right coverage, at the best price possible.

To learn more about our ‘People Before Policies’ approach – complete and submit a free quote request – or call us at 419-423-9145.