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Farming is a way of life, but these days it is also big business. Many things that affect your bottom line are unpredictable - commodity markets, weather factors or disease pressure. But there are some things you can control - and purchasing the best insurance protection for your money is one of them.
At Timmerman Insurance we have several insurance companies that cater to the farming community. Although each policy will vary according to the producer's needs - here are some of the coverages available to you:
Farm package policy includes coverage for:
- Damage to non-owned farm machinery and machinery that you own and lend or rent to someone else.
- Increased construction costs due to change in municipal by-laws.
- Rebuilding your barn at a different site that you own.
- Custom farming
- All Risk Coverage (tells you what is not covered, if any other loss occurs - it is covered) on Buildings, Contents, Livestock, Farm Machinery.
- Replacement Cost (property replaced at today's prices) on Building, Contents and Farm Machinery that is less than 3 years old
Policies are issued on a Single Limit basis - no more schedules or sub-limits!
Some optional coverages available to you:
- Add Replacement cost coverage for all Farm Machinery
- Closed herd coverage - offers income protection in the event of a partial loss and you are unable to use replacement animals due to a closed herd status.
- Closed loop coverage - offers coverage if you are unable to receive livestock from your supplier or deliver to your receiver due to a loss on their end - if the loss would have been covered on your policy - like a fire.
If you would like a no obligation quote - please call our office at your convenience.
In order to obtain this 'All Risk' policy you must maintain a monitored hi-lo temperature alarm and have a back-up generator on site.
All policies vary from company to company. The outline above is for reference purposes only.
The actual wording, conditions and exclusions on your policy will apply.
For more information, contact a Timmerman Insurance Broker today!
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