Review insurance while waiting for harvest
An insurance expert says farmers should consider reviewing their coverage before the busy harvest season.
Autumn Schlieckau with Rural Mutual Insurance in Wisconsin says the slower-than-usual time between fieldwork and harvest is a good time to see if insurance policies need to be updated. “A good thing to keep in mind during your slower months is to contact your agents, do your renewals, update them on any equipment you’ve sold, or bought, just to make sure everything is properly covered and that way, you’re prepared for fall time.”
Schlieckau tells Brownfield farmers might not realize how much today’s replacement costs have changed, and what that means for their insurance. “Equipment prices are going up. Values of the buildings are all going up as well so that’s definitely something to take a peek at and make sure that your limits are adjusted correctly to keep up with the inflation we’re going through right now.”
Schlieckau says buying or selling equipment or changing farm infrastructure changes what needs to be insured, affecting the cost for farmers.