Insurance to Value: Protecting Farm Outbuildings
Every farm is unique and Red River Mutual wants to make sure you’re adequately insuring your operation to its true value and staying safe on your property. A major aspect of every farm, regardless of operation, are the outbuildings.
What is a farm outbuilding?
Outbuildings are the buildings or structures on your farming property that are separate from the main building, generally your home. Our farm building coverages include, but are not limited to, protection for:
- Garages, implement sheds, repair shops
- Cattle, hog, horse, and poultry barns
- Slurry tanks and fertilizer tanks
- Granaries, grain elevators, and silos
- Feed mills
- Pole barns, hay sheds, or riding arenas
- Seed cleaning plants or bio-tech shelters
- Greenhouses and apiaries
Getting adequate coverage for your outbuildings
It’s important to discuss the following questions with your broker and with a Loss Prevention Consultant who visits your farm, if you have an inspection:
- Is there any equipment permanently attached to the building? (e.g., robotic milking systems, refrigeration units, etc.)
- What is the building used for? (e.g., storage, livestock, processing, etc.)
- What are the contents of the building that can be insured? (e.g., livestock, produce, machinery, etc.)
- What is the design or configuration of the building?
Of course, there are also risks surrounding your farm outbuildings that will determine what building coverage, and if any endorsements or extensions, will work best for you and your needs.
Risks that can impact your farm building insurance needs
This can include faulty wiring or electrical equipment starting fires, spontaneous grain dust explosions, or combustible gas build-up.
This can include leaking or rusting of storage bins, fertilizer or other flammable substances catching fire, or seepage of animal wastes.
Machinery or equipment breakdown
This can include refrigeration units breaking down due to a power surge or the breakdown of computer-automated system.
If you think any of your outbuildings could be affected by these risks and hazards, it’s important to reach out to your broker and ask if there are optional extensions or endorsements that could benefit you.
For safety tips on what you can do to limit hazards and reduce risks on your farm, review our Farm Safety Resources information.
How to assess the risks and proper value of your farm
To help you insure your farm to value and prevent losses and damages due to risks, we offer a Commercial Farm Inspection Program with building evaluations (including thermal imaging), safety recommendations and tools (including a fire extinguisher), and a comprehensive form detailing the findings of the inspection.
For more information about our Insurance to Value offerings, contact your Red River Mutual broker.