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  1. #1
    Silver Member mars1952's Avatar
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    Jan 2007
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    238
    Location
    Western North Carolina
    Tractor
    1999 John Deere 4300 12/12 sync-reverse

    Default What insurance company do you use?

    Hi Everyone: Right now I have State Farm for all my insurance coverage. The problem is State Farm does not offer coverage for my tractor and equipment if it is used for farm activities. I have a small farm that I claim on my taxes therefore State Farm will not cover my farm equipment. I also have a Polaris Ranger that I use for farm work. State Farm is willing to insure it like they would a car to the tune of about $1000 a year for liability or about $2000 for full coverage.
    I dug into the insurance question and have come up with an insurance company The North Carolina Farm Bureau Insurance Group. On paper they look great. They offer much higher liability coverage and they will cover my farm activities, equipment, animals, employees and the Ranger (only $90 per year for the Ranger). If I switch over to Farm Bureau insurance for everything (house, cars, farm, ranger) I could save about $200 per year plus they would cover the farm stuff and ranger where as State Farm does not cover the farm or the Ranger. However, I have read several legal articles on line that describe court cases where The Farm Bureau has weaseled out of their liability coverage.
    Rivenbark vs Farm Bureau
    Rivenbark v NC Farm Bureau Mut. Ins., 155 NC App 777 (01-1420) 01/21/2003 - Unpublished
    Rowe vs Farm Bureau
    Rowe v NC Farm Bureau Mutual Ins. Co., (02-539) 04/15/2003 - Unpublished
    My questions are: Is The North Carolina Farm Bureau Insurance Group more of a weasel than any other insurance company? Has anyone here had personal experience with the Farm Bureau? Who in North Carolina has an insurance company that they would recommend for my needs?
    Thanks, Marshall

  2. #2
    Veteran Member daTeacha's Avatar
    Join Date
    Oct 2005
    Posts
    2,352
    Location
    Funk, Ohio

    Default Re: What insurance company do you use?

    Around here, Farm Bureau partners with Nationwide Insurance. We use State Farm and my tractor is covered under the personal property clause of my homeowners. When the wife had a farm with up to 50 sheep, State Farm was her insurance, and they happily paid for wind damage to the barn and a few other things.
    Rich
    300 hours on the DX29, 850 on the JD 240 and too many to count on the Cadet
    Funk, Ohio

  3. #3
    Silver Member
    Join Date
    Oct 2006
    Posts
    106
    Location
    Tara, Ontario
    Tractor
    AGCO ST22A

    Default Re: What insurance company do you use?

    I am not familiar with the regulations there but Insurance can be a complex issue. Here are some of my thoughts. First be sure that your situation and concerns are fully described to your agent or broker. You say the will not cover your tractor and equipment for farm activities. I assume you own a farm so I would also be concerned that your property is insured properly to have liability coverage for your general farm activities. You need to ask lots of questions of your agent or broker or anyone that you potentialy deal with so they understand all the exposures.

    I will quess as to the reason for the difference in the Ranger premium. If it is insured the same as your car you would likely be covered both on and off the road. The $90.00 premium may just be as an extention to the property policy and may not consider any road use and be consider a farm vehicle. There may be nothing wrong with that as long as you are aware of what you have and that there may be a pitfall if a loss occurs that falls outside of the scope of the policy wording. Only you know how you want to use this vehicle and that use will determine the safest way to insure.

    I did not read the cases that you reffered to but usually when this happens there is a loss that did not fall within the scope of the policy for some reason or often times breach of a policy condition. You will find these with any insurance company. The goal is to get the proper policy for your needs.

    Hope this can help.

    Jim

  4. #4
    Platinum Member
    Join Date
    Dec 2003
    Posts
    911
    Location
    GA, TN
    Tractor
    Kubota L4330HST

    Default Re: What insurance company do you use?

    Won't SF write you an Inland Marine policy? That's what I've got for the farm equipment.

  5. #5
    Silver Member mars1952's Avatar
    Join Date
    Jan 2007
    Posts
    238
    Location
    Western North Carolina
    Tractor
    1999 John Deere 4300 12/12 sync-reverse

    Default Re: What insurance company do you use?

    Hi Jim and JRobyn: I have asked my State Farm agent serveral times to write a policy to cover my farm and they always say they can't. The Farm Bureau agent used Inland Marine for the Farm equipment. I guess North Carolina has its own rules. I have spelled out the way I plan to use the farm equipment and the Ranger to both State Farm and the Farm Bureau. In NC the Ranger can't be licensed for the road. But I will be using the Ranger and the farm equipment off of my property from time to time and I have explained this to both agents.
    Marshall

    John Deere 4300, 420 loader, model 47 Backhoe and many other attachments.
    Ford F350 Super Duty 4X4 Crewcab
    Polaris Ranger XP 700
    Millermatic 251 MIG welder
    Miller Spectrum 625 Plasma cutter
    Upgrading John Deere Loader Cylinders
    John Deere 420 loader quick hitch rebuild
    Semi-Metallic Emergency Brake Pads for the Polaris Ranger
    Straightened, reinforced and added toothbar to FEL bucket

  6. #6
    Silver Member
    Join Date
    Sep 2005
    Posts
    152

    Default Re: What insurance company do you use?

    I use Farm Bureau for my home and tractor. Here in Mississippi they're excellent. I don't know about other states.

  7. #7
    Silver Member emmy71's Avatar
    Join Date
    Nov 2005
    Posts
    222
    Location
    North Carolina Piedmont
    Tractor
    Kubota L3400 HST

    Default Re: What insurance company do you use?

    I have had NC Farm Bureau Insurance for about twenty years here in NC. Never had a problem with them. I have filed one homeowners claim, one motorcycle claim, and several auto claims (broken windshields) and they paid immediately. I bought an inland/marine policy from them for my tractor and FEL. $20,000 coverage for I think $115 a year. Covers theft, fire, transporting, accidents such as rollover, etc. The inland/marine policies can be purchased separately for each implement also. The thing I really like about them is they are ten minutes from the house, my agent is almost always available and he knows who I am and what I have insured with them.

    Terry
    2006 Kubota L3400 HST, R4's, LA 463 loader.
    Landpride FDR1672 mower, Hawkline 5' rotary cutter, 5' United boxblade, 6' scrape blade, Woods 5000 chipper/shredder

  8. #8
    Silver Member
    Join Date
    Oct 2006
    Posts
    106
    Location
    Tara, Ontario
    Tractor
    AGCO ST22A

    Default Re: What insurance company do you use?

    Hi Mars. If State farm cannot write your farm I would guess that you have a gap in coverage there that does need to be addressed. They are a huge player there in the U.S. but up here they do not get involved in Farm or Commercial insurance much as it appears State's will differ from one to the other as well and that is normal for companies to pick and choose what they write and where.

    I may not be quite on with the definition of "inland marine' but for me it means "all risk floaters" covering portable land items and the perfect example of that is machinery such as you have. We call it "all risk machinery floater".

    It the Ranger cannot be licensed for the road you may be fine with the cheaper priced coverage. The important thing is to where and how it can be used and if your insurance agent knows he should be able to advise you of what you can and cannot do with it that may void coverage. we have had huge issues and discussions over the years about trucks that farmers want to put a slow moving vehicle sign on and cover under the farm insurance policy as a piece of equipment.

    Anyway, I think you are on the right track to getting this resolved.

    good luck.

    Jim

  9. #9
    Bronze Member allpontiac's Avatar
    Join Date
    Dec 2004
    Posts
    54
    Location
    NC
    Tractor
    Ford/New Holland 1715

    Default Re: What insurance company do you use?

    Marshall - I have my home, cars, etc. with state farm in NC. My homeowners covers my tractor, etc. on my property but not away from home. I bought a seperate policy from them to cover my tractor and equipment under any circumstances, i.e. off property, on trailer, theft, fire, rollovers, etc. Costs about $135 a year - Lewis
    Ford New Holland 1715, 5 ft. Bush Hog 1846 QT FEL with Markham toothbar, 5 ft. Howse 500C Rotary Brush Cutter, 5 ft. Southern Scraper Blade, Howse Carry All, TSC plow.

  10. #10
    Platinum Member
    Join Date
    Jan 2007
    Posts
    584
    Location
    Manhattan, Kansas
    Tractor
    NH TC45D

    Default Re: What insurance company do you use?

    If you read the articles you attached, you will note the a reasonable person would come to the conclusion that the insurance company(and me, because I pay premiums) was taken advantage of in both cases. In no way could anyone say that the insurance company ethically owed the takers any money in either case. In the last case, because of some legal ambiguities, they had to pay, but the guy who got the money should not have received it.

    In summary, while there have been some insurance companies who have been crooked, they are typically exposed. I would do some research on your existing company. The people who filed the suits highlighted are taking money from me, and the insurance company has a DUTY to prevent that sort of fraud from happening.

    By the way, I only have liability insurance, and therefore shouldn't be considered a shill for the industry. It is just that I want the insurance I do use to be cost effective, and reliable. People who unreasonably bash insurance companies prevent that service from being available.

    I would encourage people to read the attachments. They give an education about the nature of man.

    Chris

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