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Feb 12th, 2024
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 INSURANCE INCREASE
#8733207
11/13/22 12:35 PM
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Joined: May 2005
Posts: 2,410
Huntmaster
OP
Veteran Tracker
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OP
Veteran Tracker
Joined: May 2005
Posts: 2,410 |
My Farm Bureau Policy just went up $2000 in one year. No claims in past 10 years. What “FARM
POLICY” do you guys carry? I know a Farm Policy differs from a regular policy.
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Re: INSURANCE INCREASE
[Re: Huntmaster]
#8733214
11/13/22 01:05 PM
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Joined: Dec 2009
Posts: 9,860
The Dude Abides
THF Trophy Hunter
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THF Trophy Hunter
Joined: Dec 2009
Posts: 9,860 |
It's not your claims you're paying for. Inflation, location, cost of materials & labor are the driving factors. Just about everyone's homeowners went up significantly.
I am still looking for the perfect apron, one with reinforced knee areas would be perfect.
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Re: INSURANCE INCREASE
[Re: The Dude Abides]
#8733223
11/13/22 01:23 PM
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Joined: May 2005
Posts: 2,410
Huntmaster
OP
Veteran Tracker
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OP
Veteran Tracker
Joined: May 2005
Posts: 2,410 |
Thanks, but I’m not looking at why rates are rising; I’m looking for ranchers who may be insured with Germania, State Farm Ranch, Farmers Ranch, Nationwide Ranch, or some independent; that they feel is a better fit.
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Re: INSURANCE INCREASE
[Re: Huntmaster]
#8733233
11/13/22 01:35 PM
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Joined: Apr 2007
Posts: 60,541
BOBO the Clown
kind of a big deal
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kind of a big deal
Joined: Apr 2007
Posts: 60,541 |
My Farm Bureau Policy just went up $2000 in one year. No claims in past 10 years. What “FARM
POLICY” do you guys carry? I know a Farm Policy differs from a regular policy. Are you talking liability, equipment or crop?
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Re: INSURANCE INCREASE
[Re: Huntmaster]
#8733239
11/13/22 01:39 PM
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Joined: May 2005
Posts: 2,410
Huntmaster
OP
Veteran Tracker
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OP
Veteran Tracker
Joined: May 2005
Posts: 2,410 |
No crop, liability barely went up, main increase was on house and barn.
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Re: INSURANCE INCREASE
[Re: Huntmaster]
#8733245
11/13/22 01:54 PM
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Joined: Apr 2007
Posts: 60,541
BOBO the Clown
kind of a big deal
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kind of a big deal
Joined: Apr 2007
Posts: 60,541 |
No crop, liability barely went up, main increase was on house and barn. PM Hudbone
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Re: INSURANCE INCREASE
[Re: Huntmaster]
#8733386
11/13/22 06:28 PM
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Joined: Nov 2008
Posts: 8,375
LoneStarSon
THF Trophy Hunter
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THF Trophy Hunter
Joined: Nov 2008
Posts: 8,375 |
Not a ranch or farm, but we've had Germania for 15 years and love them. Farm Bureau we had on a couple of properties, but they were more expensive than Germania (Germania wouldn't cover them at the time because they weren't occupied). I'd definitely check out Germania. I would probably keep the Farm Bureau membership (I think it's $50/year) just because you get GREAT discounts at hotels, on cars, etc. with it.
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Re: INSURANCE INCREASE
[Re: LoneStarSon]
#8733469
11/13/22 10:42 PM
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Joined: Sep 2004
Posts: 10,860
DannyB
THF Celebrity
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THF Celebrity
Joined: Sep 2004
Posts: 10,860 |
Not a ranch or farm, but we've had Germania for 15 years and love them. Farm Bureau we had on a couple of properties, but they were more expensive than Germania (Germania wouldn't cover them at the time because they weren't occupied). I'd definitely check out Germania. I would probably keep the Farm Bureau membership (I think it's $50/year) just because you get GREAT discounts at hotels, on cars, etc. with it. The Ferrell Gas driver said Farm Bureau members save about a buck a gallon on propane.
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Re: INSURANCE INCREASE
[Re: Huntmaster]
#8733539
11/14/22 01:24 AM
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Joined: Mar 2010
Posts: 12,303
ntxtrapper
THF Celebrity
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THF Celebrity
Joined: Mar 2010
Posts: 12,303 |
My Hochheim Prairie Farm Mutual policy didn't go up a dime.
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Re: INSURANCE INCREASE
[Re: Huntmaster]
#8734132
11/14/22 08:28 PM
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Joined: Aug 2011
Posts: 822
Mohawk Man
Tracker
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Tracker
Joined: Aug 2011
Posts: 822 |
I have been an Agent with Farm Bureau for 22 years . If I can answer any questions just let me know. From what I have see all companies are going up. All building materials have gone through the roof. If your policy increased $2000. You need to check roof age . It is probably showing you have an older roof on the policy.
If your properties were vacant you were paying a surcharge for that.
Our local propane provider is charging over $3.00 a gallon and I just filled up for $1.55 a gallon with Ferrell gas.
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Re: INSURANCE INCREASE
[Re: Huntmaster]
#8734163
11/14/22 08:58 PM
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Joined: Jul 2019
Posts: 14,271
Hudbone
THF Celebrity
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THF Celebrity
Joined: Jul 2019
Posts: 14,271 |
Been doing this for almost 40 years, been through the RTC fiasco, 08/09 craziness and other economically "influential" times, but I have never seen a time like what we are going through right now.
Mold was close but that just affected home coverage.
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Re: INSURANCE INCREASE
[Re: Hudbone]
#8734234
11/14/22 10:21 PM
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Joined: Aug 2011
Posts: 822
Mohawk Man
Tracker
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Tracker
Joined: Aug 2011
Posts: 822 |
Why did you have to mention the M word. That was crazy! Hahaha
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Re: INSURANCE INCREASE
[Re: Huntmaster]
#8734336
11/15/22 12:06 AM
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Joined: Jun 2006
Posts: 8,357
Dave Davidson
THF Trophy Hunter
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THF Trophy Hunter
Joined: Jun 2006
Posts: 8,357 |
I’m about to look for a liability policy for my rural property. I recently heard about a landowner who got sued for damages by somebody he didn’t know.
Without a sense of urgency, nothing ever happens.
Boy, if I say "sic em", you'd better look for something to bite. Sam Shelley, Rancher Muleshoe Texas 1892-1985 RIP
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Re: INSURANCE INCREASE
[Re: Dave Davidson]
#8735113
11/15/22 09:26 PM
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Joined: Aug 2011
Posts: 822
Mohawk Man
Tracker
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Tracker
Joined: Aug 2011
Posts: 822 |
Check with your current Home insurance provider. Some companies will extend liability from Home insurance to investment and ag property.
Last edited by Mohawk Man; 11/15/22 10:37 PM.
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