INSURANCE OPTIONS IN FARMING Presented By 1 Homeowners

INSURANCE OPTIONS IN FARMING Presented By:

1. Homeowners Insurance Policies 2. Farm Insurance Policies 3. General Liability Policies 4. Information Pertaining to 2021 Survey Results 5. Contact Information

HOMEOWNERS INSURANCE • Coverage Varies By Carrier • Only applicable to farming “Hobby” • Standard ISO (Insurance Services Office) policy language restricts “Hobby” compensation to $2, 000 or less • Strict Underwriting Guidelines • Standard policy language restricts “Business” Liability • Coverage For Farming is only available via endorsement -Typically only covers farming for your own consumption -Typically limits exposure such as number of animals or type of animal

FARM INSURANCE POLICIES • Designed To Cover Farming Operations Of All Sizes • Provides Farm Related Coverage Extensions for Farm Pollution/Retail Sales/Product Liability • Flexible Underwriting Guidelines & Eligibility • Can Provide Coverage For: • Farm Liability • Personal Liability • Your Home • Farm Structures • Farm Machinery/Equipment • Tools/Supplies/Feed

GENERAL LIABILITY • • Liability Only (No Property Coverage) Coverage Can Be Limited/Restricted to Location or Operation No Farm-Specific Extensions Can Conflict With Homeowners Insurance Coverage

2021 SURVEY RESULTS Survey results as they relate to insurance: Question 3 (Crop Based): All of these crops are considered farm operations/farm products and qualify for coverage on a Farm policy. Some exceptions for “Pick-Your-Own”, “Cut-Your. Own”, use of ladders, Xmas Tree Operations or retail sales and may require endorsements. Question 4 (Value-added Based): Most of these products can be covered by endorsement but are generally not automatically covered by a Farm Policy. Non-pasteurized milk products are excluded and would require a separate specialty policy in order to cover that exposure. Coverage for retail meat sales would require that the meat was processed in a USDA Certified facility or at a commercial butcher.

2021 SURVEY RESULTS CONTINUED…… Question 5 (Direct To Consumer): All of these operations would require an endorsement or a separate General Liability policy Question 6 (Indirect to consumer): These exposures would require a separate General Liability policy. Farm policies aren’t designed to cover restaurants, auctions, grocery stores, etc. The farm store exposure may qualify for coverage under a Farm Policy via endorsement depending on the revenue it generates and the items held for sale.

207. 989. 8880 WWW. ALLPOINTSAGENCY. COM INFO@ALLPOINTSAGENCY. COM All Points serves clients in all of Maine’s 16 Counties