Considering the different kinds of farmers and ranchers – from commercial or hobby farms to cattle or vegetable farms – it’s little wonder that many insurance carriers don't have an appetite for this industry. But it isn’t just the variety of businesses that makes farm and ranch risk difficult to place. Daily operations may complicate matters, too, such as…
- Living and working on the same property.
- Relying on unpredictable elements, e.g., weather and animals.
- Owning expensive equipment, much of which is mobile.
That said, Insurance Noodle agents have access to carriers with appetites for farm and ranch businesses. If you're a member, simply log in to your Noodle portal and select "Programs" from the dropdown menu to quote the Farm & Ranch Program.
This insurance program can help your agriculture clients protect their crops, livestock, equipment, land, and liabilities.
If you've never handled farm and ranch risk before, check out these tips to make the quoting process easier:
- Fill in the details on your client’s operations. Be sure to explain what your client does, what they produce, and how products are sold.
- Provide information from their previous provider. That includes the carrier name, renewal date, and loss history and runs.
- Provide specifics for scheduled equipment. Include the year, make, model, and serial number.
- Be as accurate as possible. Guessing can lead to declines at the last minute.
- Include photos of all sides of every structure. Photos and loss runs may result in a 35 percent discount in your client’s premium.
The risk may be more complicated than your regular commercial lines clients, but following these suggestions can improve your quote accuracy and speed.