Farm

Civil liability coverage protects you from property damage or bodily injury that you may involuntarily cause to a third party or to one of your clients, anywhere your activities take place. As a result, this coverage is necessary in order to protect your business in the event of a lawsuit or claim attributable to your operations, your places of business or your operations. It is important to properly assess the chosen limit in relation to the actual risk because the consequences could be catastrophic for the survival of your company.

The Umbrella coverage offers you an excess liability insurance. By opting for this added protection, you extend the limits of your underlying policy.

Adding the executive risks coverage, also known as “D&O”, allows your company’s directors and officers to be covered. These directors and officers carry the responsibility of acting in the best interest of the company. Whether you are the member of a board or run a company, you could be held personally liable of any wrongful act in the management of a company. This insurance also covers defence costs in the event of allegations or legal action brought against members of a board or business executives.

This insurance covers your liability in the event that you store merchandise, produce, animals, vehicles or boats for third parties in one of the buildings on your farm. You will be protected if you are held liable for the loss or damage of any such property and if there is a lawsuit from a third party or his insurer.

Since the building is covered under the basic insurance contract, immovable property is covered (namely the walls, floors and windows, but also the cupboards and counters of your company against fire, theft, vandalism and more). Your electric and heating systems and your plumbing are also covered.

Are insured:
– Barns
– Sheds
– Warehouses
– Repair garages
– Silos
– Drying plans including fixed dryers

The produce and merchandise that you grow, sell, handle or distribute are also covered, or any goods and merchandise that are in your name. This insurance also covers all input products acquired externally to run your farm business, such as fertilizer, construction material, growth stimulants or retardants, supplements, gas, containers for your produce, uninstalled drain lines, seeds or animal food.

By adding this coverage to your standard insurance policy will cover damage caused by water to your business.

Your two coverage options are:
– Sewer back-up endorsement: this insurance covers sewer back-up as well as sump pump leakage.
– Flood endorsement: you are covered in the event of a body of water overflowing onto the premises.

Equipment insurance covers any property on your farm.

Are insured:
– Fixed material and structures;
– Furniture and supplies;
– Robots;
– Motorized equipment and machinery exclusively used inside the building;
– Unloaders (silo equipment)
– Electronic equipment
– Supply equipment
– Milking equipment
– Compressors
– Fans
– Etc.

This insurance covers the damage resulting from the sudden or accidental breakdown of your equipment requiring repairs or replacement. This coverage also offers inspection services of your equipment.

Are insured:
– Pressurize equipment
– Electrical equipment
– Electronic equipment
– Mechanical equipment
– Production machinery
– Consequential loss for perishable goods or animals

Farm machinery used for your operating activities will be covered by this All perils insurance in the event of a fire, theft, accidents and other risks that may occur.

Are insured:
– Combines
– Seeders
– Tractors
– Sprayers
– Sprinklers
– Cultivators
– Hayracks
– Trailers (hauled by tractors)
– Etc.

Your farm animals will be covered in the event of a peril such as fire, lightning, wind, explosions, smoke, building collapse, strangulation, trapping and electrocution. Coverage varies depending on the type of farm animal you have. More specific risks can be insured as well.

This insurance covers damage caused by pollution resulting from a sudden and accidental or continuous and gradual event, depending on the type of contract. As a result, your company will be protected in the event of pollution from the discharge, dispersal, release or escape of solid, liquid or gaseous substances in the atmosphere, in the water or in water lines, sewers or drainage systems. It can also include coverage against fines and penalties.

This coverage protects you against any damage that may occur to your farm and dwellings in the event of an earthquake. Ground movement is excluded from the standard farm insurance policy.

The majority of farm insurance policies can include a section for coverage of your property adjacent to your farm buildings. By adding this coverage to your farm insurance contract, your dwelling and belongings overall will be protected. You will therefore be indemnified in the event of a fire, theft, vandalism or water damage.

This insurance covers lost profits or expenses incurred in order to maintain the normal business operations in the event of a major peril. For example, rental of buildings, production machinery or equipment as well as compensation for decreased income.

This coverage pays an indemnity in the event that a major peril would result in the loss of unsold stock. By adding this coverage, you will be compensated based on the market value of the lost produce, which is very advantageous since you will be reimbursed for the production cost of these produce as well as the profits that would have been gained.

This coverage protects you in the event that your suppliers suffers a serious loss, which puts them in the impossible position of supplying you with their products. Since these raw materials are needed for the production of your products, this will put you in a vulnerable situation. By adding this coverage to your farm insurance contract, you will be indemnified for operating losses resulting from this situation. Your loss of revenue will also be covered in the event that one of your main clients suffers a loss that would prevent him from buying your products, resulting in a significant loss of your revenue.