As farmers are hitting the fields and ranchers are welcoming expanded stock this spring, insurance is probably one of the last things you may be thinking about. As a farmer or rancher, you know your business isn’t exactly a 9-to-5 job. And because you don’t have a typical job, you can’t settle for typical insurance. When your farm is your business, there are going to be frequent changes to your operation. Nodak Insurance offers great policies and products to help protect all types of farms and ranches, designed to each farms’ specific needs.
Spring and early summer are a perfect time to look over how your operation may be changing going into the busy season. For many farm and ranch operators, the changing world may have caused you to pivot your operation. Here are a couple things to consider when reviewing your coverage needs.
· Did you add new or replace equipment? If so, make sure you contact your Nodak Insurance agent as soon as possible. Many policies require a listing of all machinery or amount of livestock to make sure you are adequately covered.
· Has there been and upgrade to your GPS or farm technologies? While these units improve efficiency and operations, they are also expensive and could face other risks and perils outside of normal farm equipment. We offer specialty coverages to protect this costly investment.
· Are you looking at renting new or specialty equipment for this growing season? Often times due to unforeseen circumstances, or maybe you are trying a new crop for the first time or different equipment is needed on a temporary basis. Your Nodak Insurance agent can assist to make sure that equipment is covered for damage that may occur to that temporary piece of your operation.
· While harvest may be months away, combines and other harvest equipment are often one of the largest investments on a farm. Make sure you are covered with the proper coverage and endorsements like foreign object ingestion.
· Did this spring see an expanded stock operation? For example, if this year saw more cattle in your ranch operation, this should be disclosed to your agent. Ranchers want to make sure they have enough insurance coverage to protect all of their investments in case a catastrophe arrives.
One big question that every farm and ranch operator needs to ask themselves is “Am I insured to the proper value?” 2021 is seeing increased costs in many building materials and equipment repair pricing. Taking some time to review your policy to make sure all buildings and equipment have the proper level of value is a key element to having a solid policy that will work for you if the need arises.
If you are an existing customer, your Nodak Insurance agent will be there to answer these or any other questions you may have regarding your policy.
And if you are not currently a Nodak Insurance customer, you may be surprised how Nodak Insurance can cater a product for your specific farm and ranch needs. You will have a great feeling working with a company that has been protecting North Dakota farmers for 75 years!