Coverages | Agribusiness | Farm Management Coverage General Summary

About Farm Management Coverage

This coverage, elected by landowner(s), mortgagees, or farm management firms, could cover the following:

• Tenant occupied dwellings
• The landowner’s interest in farm personal property
• Outbuildings and structures which are part of the farm

The policy automatically provides coverage up to predetermined limits for 90 days from the first day the management contract is signed by the client. Automatic coverage up to the predetermined limit is afforded for:

• Newly constructed dwellings and outbuildings on common holdings already listed on the policy
• Property covered by another expiring policy and to be added to the landowner’s policy

The policy definition as described in the policy for the farm premises owned by a landowner or group of landowners is a common holding.

Liability Coverage

Each landowner is covered for liability regardless of the type of entity, but only with respect to the farm described in the schedule as the common holding, and only with respect to the farming activities of the common holding.

• Farm managers are covered for liability with respect to the common holding.
• No liability coverage is afforded the tenant or operator of the common holding.
• Bodily Injury and Property Damage for which the insured becomes legally obligated to pay as a result of an occurrence during the term of the policy is covered by this policy.
  • This coverage includes occurrences resulting from:
    • Premises and Operations
    • Products or Completed Operations
• Certain Contractual Obligations
• Personal and Advertising Injury liability for which the insured becomes legally obligated to pay as a result of activities in connection with the common holding is covered by this policy.
• Medical Payments for a person suffering bodily injury on the common holding are covered by this policy.

Benefits

This policy is designed to ease the farm manager’s insurance placement responsibilities by:

• Insuring all farms under one policy instead of several
• Providing broad coverage uniformly on every farm
• Binding coverage automatically for 90 days until the policy can be amended