i have been getting my collection of haying equipment togther and this summer i plan to cut some hay, a portion of it will be on my parents property( i still live at home) and some will be on other peoples fields. i would like to get some sorta insurance coverage, mostly to protect me when i am on the road with my tractor, i know the people that own the land i will be cutting hay on very well so i am not concerned about them suing me or anything, i just dont want a problem on the road if some moron plows his sportscar into the back of my baler or something like that
yea i have talked to a few people about that but the problem is that i dont own a farm(or land) realy, all the real estate type stuff is in my parents name. they all want to do it as a homowners/farm type thing
If their insurance company finds out they will be screwed anyway. The insurance places here are very strict about it. They won't even let you have a homeowners policy if you rent out the ground. One guy I know was madder than heck because he rents all of his ground out and they still made him have a farm policy. It cost him about $300 more.
HO Policy with an incidental farming endorsement is the best policy to have but generally you can not have any rental exposure on your property. Often HO-3 &5 policies have all risk perils with replacement cost endorsements.
A Farm Policy is a Fire Policy with each endorsement added on separately and are usually not all risk perils but just broad form perils protection. If you rent space or land often you are forced into a Livery endorsement which is costly and not accepted as new business.
If you have a true farming situation , check the rates of your state Farm Bureau. In my opinion I would have my domicile on a separate HO policy from your farm if at all possible. The law is different in every state so check with your agent.
All Risk perils would protect you if a deer jumped through a window and was inside your house and wrecked it but a broad form perils policy would not pay for any damage due to any animals. Just think about what could happen.
I share farmed for near 10 years, about 1200 acres in total scattered over a 15 mile radias i did own 140 acres of my own as well. I had full insurance with plant on the road as well as public liability insurance. In this country it is vital that you follow standards laid out by the road traffic act, these are things like flashing amber lights, flags ect, if you comply with these thing you have no worries.
By the way i made a very good liveing out of share farming
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