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Shaggy98
Senior Advisor

Hay Insurance

Due to an abundance of timely rain as well as a few hundred acres of cover crops, I'll have a substantial amount of baled hay stock piled in two different locations.  Is it wise to insure these stacks against fire losses?  A big part of these bales will probably be sold on the local market, but should I be considering insurance against potential lost income should a fire arise?

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2 Replies
elcheapo
Veteran Advisor

Re: Hay Insurance

I would check at a couple agents as to the
Cost. Although be it rare to have a hay fire
In your situation you are sensitive to it
Being on the fire dept....you have seen what
Can happen, si I would say shop around
Get the best rate, it is usually cheap, and you
Can rest a little bit better at night knowing your
Covered, as images of past hay building
Fires haunt you.
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Kay/NC
Honored Advisor

Re: Hay Insurance

Couple of thoughts... We raise a couple hundred acres of hay in a slow year, and get several cuttings of most stands...at least two and maybe four. One thing we do is spread it out over several storage areas, both indoors and out. It is a "not all the eggs in one basket" sort of decision. I have never insured it directly, but it may come under "contents" of some structures. With hay, you have both the potential of spontaneous combustion, which I doubt you can cover against; and vandalism,. which is potentially excluded as well, depending upon the insurer. I would lioke to know what you find out.... For us, it is mostly going to be fed to our cattle and daughter's horses and boarders. The hay the kids sell isn't mine, so I cannot insure it anyway.
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