THE FALLS INSURANCE CENTER, INC.
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Replacement Cost coverage is available for your home and private garage. With this option, there is no deduction for depreciation at the time of loss. Coverage will automatically increase with the rate of inflation.
Guaranteed Replacement Cost coverage is also available (except for mobilehomes). AS long as we agree on a sufficient limit of insurance when your policy is written, our policy will pay for the full cost of repair or replacement even if the cost exceeds the policy limit.
Ordinance or Law coverage protects you against loss resulting from the enforcement of building, zoning, or land use ordinance or law that regulates the construction, repair, or demolition of property.
Replacement Cost coverage for contents provides worldwide protection for your personal property. With this option, we cover the full cost to repair of replace it up to the policy limit, even if the cost exceeds the original price. There is no deduction for depreciation due to age.
Additional Living Expense If you are unable to live in your home after a covered loss, this coverage will provide for the additional costs of living in hotels and eating in restaurants.
Farm Personal Property - Basic, Broad, or Special Perils are available. If this coverage is requested, our policy will automatically provide coverage for hay, straw, and fodder for up to $50,000 while located on the insured premises. Coverage is limited to $10,000 per stack. Perils included are fire, lightning, wind, or hail, vehicles and theft.
Additionally, if Unscheduled Farm Personal Property is selected, our policy provides an extension of 10% of the limit for grain in piles, shocks, stacks, or swaths, in the open for the perils of fire, lightning, windstorm, or hail, vehicles and theft.
Barns and Other Outbuildings Basic, Broad, or Special Perils are available. Replacement Cost coverage is available.
Personal Liability coverage gives you financial protection against personal liability claims made against you for bodily injury or property damage for which you are legally liable. Defense costs are included even if a suit brought against you is groundless or fraudulent.
If a guest is injured on you premises, Medical Payments to Others is provided up to your medical payments limits even if you are not liable.
$100,000 limited Pollution buy-back
$100,000 coverage for replacement items or specifically insured machinery
(45 days)
$100,000 coverage for newly acquired farm equipment, machinery, and
vehicles (45 days)
$100,000 coverage for mobile farm equipment which has been "temporarily"
loaned, rented, or leased to you if Inland Marine coverage is
provided
Up to $25,000 for property damage arising from Aircraft Spraying By Other
is available
Custom Farming up to $10,000 receipts-Free
$1,000 Contents of Freezer
$1,000 Fire Department Service Charge
Snowmobile Liability
Lay-up credits for most farm trucks when auto coverage is provided
$1,200 Animal Collision coverage is available
Damage to tires and tubes is available if Inland Marine coverage is provided
Crop hail coverage provides protection against physical damage from hail and/or fire. Other coverages provided include fire department service charges, transit coverage to the first place of storage, catastrophe loss award (most coverages) and replanting coverage (most crops). Options exist in some areas for other perils such as wind and theft.
Crop Hail can be used along with MPCI or other comprehensive coverages to offset the MPCI deductible and provide protection up to the actual cash value of the crop. Coverage is provided on an acre-by-acre basis, so that damage that occurs on only part of a farm may be eligible for payment when the rest of the unit remains unaffected.
If a grower has coverage and bumper crop yields or higher prices become apparent, coverage can be increased during the growing season to cover the value of the crop. may be eligible for payment when the rest of the unit remains unaffected.
Dollar Guarantee
A dollar amount of coverage per acre is selected by the grower. Options
with different deductibles may be selected to permit a grower to partially
self-insure for reduced premium costs.
Loss Payment To calculate a payable loss, multiply the amount of coverage per acre applying on the date of loss by the damaged acreage, and the percentage of loss, less any deductibles.
| How it works | |
|---|---|
| Coverage Details | Loss Payment $250 of coverage per acre Dollar Guarantee (20 A. x $250/A.)=$5,000 |
| No-deductible policy | % of Loss 40% 20 acres of damaged corn Loss Payment ($5,000 x 40%)=$2,000 |
| Hail caused | 40% damage 100% Ownership |
What is the availability of crop hail coverage?
Crop Hail coverage is available in all states in the United States and in
Alberta, Manitoba, and Saskatchewan in Canada. Coverages and options vary
by geographical area and crop.