Agribusiness Insurance is a special field of commercial or business insurance that focuses on farm and agricultural related production, processes, products, warehousing and distribution. At Mid America Specialty Markets you’ll find we provide a complete range of Agribusiness Insurance products to agribusiness owners throughout the state of Missouri and Kansas both on-line and through our local offices located in Columbia, O’Fallon, Springfield, Lee’s Summit, Clever, Neosho, Seneca, Carthage, Lamar and Shawnee-Overland Park.
Special Agribusiness Insurance Products:
Agribusiness Insurance will include some very specific business operations such as:
- Seed Dealers Insurance –
- Feed Dealers Insurance –
- Fertilizer Dealers Insurance –
- Grain Dealers Insurance –
- Agriculture Co-op Insurance –
As you can imagine, each of these specific types of agribusiness operations will require special insurance coverage to address specific risk exposures found within their normal operations. Let’s take a look at these agribusiness insurance additional coverage programs one at a time.
Seed Dealers Insurance –
Seed Dealers Insurance is a special part of the overall Agribusiness Insurance. Of course seed dealers have the same general insurance coverage exposures as do any other type of business but they also have some very specific exposures to loss that need to be specifically addressed some of these exposures are:
- Erroneous Delivery and/or Mixture of Seed – This special coverage will help to protect you from wrong, incorrect or mistaken delivery of seed to the purchaser. It will also protect you from a mistake or error preparation and mixture of the seed.
- Failure of Seed Germination – This special Seed Dealer insurance coverage protects you from claims arising from the failure of your seeds to germinate, causing a loss to the purchaser.
- Seed Merchants Application Coverage – This special Seed Dealer nsurance coverage will protect your business from mistakes or errors you’ve made in labeling or special seed coating or other type of seed treatment that you may perform.
Feed Dealers Insurance –
Feed Dealers, in the same manner as Seed Dealers, share many common insurance coverages with almost every business. We’ll look closer into those common insurance coverage issues at the end of this page. But like seed dealers, Feed Dealers Insurance includes some very specific insurance coverage items that only address loss exposures common to those in the feed dealer business. Some of those are:
- Livestock Feed Manufacturer or Dealers Property Damage Coverage – This is a special coverage extension that extends stock coverage to respond to damage to feed from some kind of error in mixing, compounding, ingredients and includes coverage when your feed product fails to meet specifications.
- Failure to Supply and Erroneous Delivery – This is a special Agribusiness Insurance coverage that provides protection from mistaken delivery, error in mixture and mistakes or errors in instructions provided to users of your livestock feed product.
- Aflatoxin Limited – This special Agribusiness Insurance coverage provides coverage for bodily injury or property damage arising from exposure to aflatoxin that may be contained in your product. (special exclusions may apply)
Fertilizer Dealers Insurance –
You’ll find another segment of agribusiness insurance is Fertilizer Dealers Insurance. Just like all other agribusiness operations, Fertilizer Dealers share common insurance coverages but maintain some very specific coverage to deal with the special risk exposures they face in their daily operations. Specific coverage available to Fertilizer Dealers include:
- Liquid Products Improper Delivery Coverage – When a Fertilizer Dealer delivers liquid fertilizer or fuel products to the wrong farm operation they suffer a potential loss from this misdelivery of the goods or products to the correct owner. This coverage provides protection for that exposure.
- Application of Fertilizer, Pesticide or Herbicide – This specific agribusiness insurance coverage provides you with protection from the use and handling or the application of ag chemicals that are applied in a proper manner consistent with agricultural practices.
- Anhydrous Ammonia Coverage – This is a very special coverage for fertilizer dealers that protects against the sudden and accidental release of anhydrous ammonia which results from the sale, use, distribution and storage.
- Failure to Supply and or Deliver Coverage – Provides you with coverage from a mistake or error in the delivery or mixing your product.
Grain Dealers Insurance –
As a Grain Dealer, you face many unique and special insurance needs that most standard business insurance programs will not provide. Handling a special product like you do requires special insurance handling. To have proper insurance coverage for your grain operation you must have a range of special insurance coverage protections. This special coverage should include:
- Special Deductible Waiver on Commodities – With this included it means that your policy will provide full coverage, with no deductible applied, on commodities that are being held under a storage agreement for others.
- Seizure Extension or Transit Condemnation Coverage – This provides coverage for grain or beans while in transit for seizure or condemnation because the grain or beans are contaminated.
- Failure to Supply and Erroneous Delivery Coverage – Provides coverage for mistake or error in delivery, error in mixture and error or mistake in providing instructions for livestock feed.
- Aflatoxin Limited Coverage – Provides protection for bodily injury and property damage from exposure to aflatoxin in your product. (Exclusions apply)
- Grain Title Liability – Grain purchases with perfected title when proceeds not applied to perfected mortgage.
- Warehouse Legal Liability – Provides coverage for loss or damage to a depositor’s goods from warehouse negligence.
Agriculture Co-Op Insurance –
As an Ag Co-Op your operations will more than likely include all of the above individual agribusiness related operations demanding even more detain in your agribusiness insurance coverage design. Your specific operation may be more heavily weighted in one area or another but most certainly you have significant loss exposures in all. To properly design a Agribusiness Insurance program for your Ag Co-Op it requires significant investigation into your daily operations. Un-covered insurance losses can add up to costly mistakes and that’s where we can help. You’ll find that our Farm Specialists along with our Commercial Team have the experience and knowledge to work with you in identifying those exposures and developing an agribusiness insurance program that will meet those needs. After all, it’s really not an apples to apples world out there! When it’s time to review insurance coverages for your Agricultural Co-Op make sure you contact Mid America Specialty Markets!
Common Agribusiness Insurance Products:
Agribusiness operations all have very specific insurance products each needs to secure in order to cover their individual exposure to financial loss. They also all have common insurance products they need to secure in order to operate their business on a daily basis. Common insurance products will include:
- Business Auto Insurance – Most all of the Ag business operations listed above will have some kind of business auto exposure. From the single business owned pickup truck to the fleet of over the road semi’s and trailers, you will need to have proper business auto insurance to cover your exposure to loss from business auto related claims. Liability, comprehensive, collision and even cargo coverage are among a few.
- Equipment Coverage – Special equipment you use in your business may include tractors, combines, sprayers, spreaders, loading and unloading equipment including forklifts, front end loaders and portable augers and conveyors. These items all need to insured correctly to avoid a financial loss due to theft, damage or destruction.
- Buildings and Property Insurance – Everything from grain elevators, storage bins, fuel storage, buildings and warehouses and offices will require proper insurance to protect your assets.
- Business Personal Property – Items you hold for sale either in bulk or bagged, in your store or warehouse including your office contents.
- Electronic Devices – The world has changed! Telemetrics you may use in your business operations require special insurance coverage. Your electronic storage of records and files. Your computers and laptops all require special insurance coverage.
- Data Breach and Cyber Liability – If you have any of your clients or customers personal information on file, it can be hacked. Do not thing you are immune to a data breach loss! These types of claims occur on a very frequent basis and happen to small business owners just like they do to large ones you hear about in the media.
- Workers Compensation Insurance – A coverage that under most circumstances is mandatory. Also a coverage that, if improperly managed, can cost your business thousands of dollars. Be sure to visit our workers compensation page and visit WorkCompConsultant for great useful information about how you can gain control over your workers comp policy.
- Commercial Umbrella Liability – A requirement for the serious business owner to properly protect their business assets. Commercial umbrella coverage will attach higher limits over and above your underlying liability, business auto and employers liability limits, providing you with an extra, higher layer of liability protection.
Why Mid America Specialty Markets?
It’s simple, because:
- We know the Agribusiness Insurance industry.
- We have the experienced, ag-educated people on our Commercial Team that you need to answer the questions you have.
- We represent the insurance companies you need.
- We have the Agribusiness Insurance Coverage you need.
Locations Where You Can Buy Agribusiness Insurance
- Columbia, Missouri
- O’Fallon, Missouri
- Springfield, Missouri
- Lee’s Summit, Missouri
- Shawnee – Overland Park, Kansas
- Seneca, Missouri
- Clever, Missouri
- Neosho, Missouri
- Lamar, Missouri
- Carthage, Missouri
- On-Line – Commercial Team