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What Insurance Agents Need to Know about Insuring Farmers and Ranchers

Most US Farms Are Family Operations

97%
of US farms are family-operated.

According to the American Farm Bureau Federation, families run 97 percent of all US farm, and that's part of what makes farm and ranch risk tricky to write. Many farmers and ranchers live on the land they work, which complicates their profile. Add in the fact that their business is vulnerable to the whims of nature and animals, and you can see why it takes access to the right markets to write this risk. Find out how you can use Noodle to get coverage for the farmers and ranchers who knock on your agency door.

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How to Insure Farms and Ranches

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.

Question to Ask Farmers and Ranchers

Assessing risk can be tricky if you’re not familiar with your client’s day-to-day operations or what the carriers need to know to cover the business. Try asking your farm and ranch clients…

  • Are you near the coast? Many carriers deny agricultural businesses within 25 miles of the coastline. The west coast may be an exception.
  • Do you have any dogs? Certain breeds can impact coverage options and premiums.
  • Do you invite the public onto your land? Farm business geared toward entertainment, like pumpkin patches and petting zoos, may be declined.

With Insurance Noodle’s Farm & Ranch Program, you can start growing your book with agricultural businesses. Call us at 888-466-8868 or email [email protected] to learn more about the program.

Insurance Noodle Demo

Insurance Noodle Demo

Insurance Noodle has it all – top carriers, deep expertise, and broad appetite. But don’t take our word for it. Watch Insurance Noodle’s breakthrough technology streamline the quoting and binding process. It just may change the way you do business.

Watch how Insurance Noodle’s breakthrough technology makes it happen.

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