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All Farm Insurance Is NOT Created Equal

Bret, Susi and Griffin Day of Grey Ridge Farm

You’d have to search high and low to find a farm owner who deems insurance unnecessary. Most find that safeguarding their farm and equipment -- and even their own liability -- is a necessity. The most relevant question for a farm owner, then, is not should you have farm insurance, but rather, is your farm insurance sufficient?

In talking with Equidae client Susi Day, owner of Grey Ridge Farm alongside her husband of 25 years, Bret Day, questioning insurance coverage wasn’t always part of their business strategy. Since opening their successful American Saddlebred operation in 1998, Bret and Susi checked the “Farm Insurance Box” every year and moved on to tend to other aspects of their business. They assumed that being insured meant they were completely covered in the event of a tragedy.

It wasn’t until Equidae made a farm visit to evaluate the business and its current coverage that they started to look at insurance differently.

“They took the time to educate us on what we didn’t know, and in the end we were presented with a quote for better coverage with really no significant increase in the premium we had been paying,” Susi said. She mentioned that the knowledge and expertise that the agents at Equidae have in the horse industry -- as well as the insurance industry as a whole -- allowed for a comprehensive evaluation of their horse farm.

When asked what piece of advice she would give to other farm owners regarding insurance, Susi said she would encourage them to evaluate the values of everything they use in their business. The building and heavy equipment are obvious, but the less obvious equipment such as tack, switches, curtains, etc. need to be insured as well.

“Don’t skimp on including the contents of your farm in your insurance plan,” she said, “because the difference in your insurance premium is minuscule, especially in comparison to the potential loss in the event of a tragedy.” Susi also encourages farm owners to get quotes for comparison and to make sure they are not over-insured in some areas and under-insured in others.

Susi says that while she doesn’t think about insurance every day, she feels much more comfortable operating her business knowing that replacement coverage will get her business up and running again in the event of a complete loss. As an Equidae client, she also appreciates that their customer service goes above and beyond anything she had received with prior carriers. She values the reminders and reevaluations of their needs to keep their insurance coverage current and appropriate.

For Susi Day, there is no question that Grey Ridge Farm is fully and adequately protected.

For more information about equine or farm insurance, or if you have a topic you’d like to see covered in our blog, please contact us directly at: Equidae Insurance, Inc. 608 Virginia Street East, Suite 302 Charleston, WV 25301 p. (304) 346-1198 f. (304) 345-3535

Stacey Halloran, Agent
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