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Senior Contributor

farm insurance

Was thinking of changing insurance. My agent knows nothing about farming. I asked a few farmers around the area their opinions. Two highly recommended a local agent who is also a farmer. When he came to look at our he showed up earlier than I could be their (I live off the farm and have young kids). He said his company's underwriters wouldn't insure our farm because I use wood heat to dry grain. I get that its just that one of the people who recommended him has a bin with wood floor (big fire hazard, I am told). The other person who recommended him lives in a log cabin with wood heat.
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4 Replies
Senior Contributor

Re: farm insurance

Any thoughts? Has anyone had a similar experience?
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Veteran Contributor

Re: farm insurance

Wood heat is just a huge red flag to most insurance companies.  I remember in the early 90's when we put an outdoor woodstove at dads place it had to be so far from buildings and so far from propane tanks and had to be inspected.  Today I asked about placing a propane tank at my house since we are switching off fuel oil and my agent pretty much said put it where you  want.

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Senior Contributor

Re: farm insurance

Our insurance company adds a sure charge for wood stoves in the house, I believe that is standard.

I would definitely find an agent who totally understands the farming business!

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Honored Advisor

Re: farm insurance

We heat the house and office, plus hot water for both, with wood, but it is indirect, wood-fired boiler heating.  No one has mentioned it on the insurance side, but it is a retrofit.  I have never thought to bring it up, but it is clearly visible, and burns 365 says a year, because of the water. 

 

I honeatly think it's safer than having LP gas pack and gas water heaters.  The only applicances we use LP for now are clothes dryer and two sets of gas log heaters for energency use only.  I have told the agent we have a wood cookstove in the house, and that we use it daily. 

 

As much as we pay and do nto make claims, I guess they have decided to keep us.

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