Farm Insurance Policy Review Checklist
Ensure your farm is protected! This Farm Insurance Policy Review Checklist guides you through vital checks to minimize risk and maximize coverage. Don't leave your livelihood to chance - stay informed and compliant.
This Template was installed 2 times.
Policy Details Verification
Confirm basic policy information matches records and reflects current farm operations.
Policy Number
Insured Name
Policy Effective Date
Policy Expiration Date
Premium Amount
Agent/Broker Name
Notes/Comments on Policy Details
Coverage Limits Review
Assess if coverage limits are sufficient for current farm size, assets, and potential liabilities.
Building Coverage Limit
Equipment Coverage Limit
Livestock Coverage Limit
Crop Coverage Limit
Liability Coverage Limit (per incident)
Business Interruption Coverage Limit
Sufficient Building Coverage?
Property Coverage Assessment
Verify coverage for buildings, equipment, livestock, and crops, accounting for depreciation and replacement value.
Building Square Footage
Estimated Replacement Cost of Main Barn
Recent Photo of Main Equipment Shed
Number of Livestock Housed (current)
Livestock Housing Type
Acreage of Cropland Insured
Last Building Inspection Date
Liability Coverage Evaluation
Ensure adequate liability protection against lawsuits related to farm operations and products.
Current Farm Acreage
Number of Employees
Estimated Annual Revenue
Product Liability Exposure (High/Medium/Low)
Agri-tourism Activities (Yes/No)
Description of any Recent Accidents or Claims
Business Interruption Coverage
Evaluate the business interruption coverage to protect against loss of income due to unforeseen events.
Estimated Lost Income per Day
Maximum Income Loss Period (Days)
Coverage Limit (Total Income Loss)
Type of Interruption Covered (e.g., Fire, Flood, Pandemic)
Describe Potential Business Interruption Scenarios
Date of Last Business Interruption Review
Farm Product Liability
Confirm coverage for losses related to farm products sold or distributed.
Estimated Annual Farm Product Sales Revenue
Description of Farm Products Sold (e.g., fruits, vegetables, dairy)
Distribution Method(s) (Select all that apply)
Potential Liability Risks (Select all that apply)
Last Product Liability Training Date
Equipment Breakdown Coverage
Assess coverage for loss or damage to essential farm equipment.
Equipment Breakdown Coverage Limit
Type of Equipment Covered (e.g., Irrigation, Milking)
Last Equipment Inspection Date
Description of Recent Equipment Issues/Repairs
Preventative Maintenance Program in Place?
Estimated Replacement Cost of Covered Equipment
Crop Insurance Integration
Review integration with crop insurance policies and assess potential overlaps or gaps in coverage.
Crop Insurance Provider
Insured Acreage (Total)
Percentage of Farm Insured
Policy Purchase Date
Coverage Type
Guaranteed Yield (bushels/acre)
Harvest Price Election
Exclusions and Conditions Review
Carefully examine exclusions and conditions to understand limitations of coverage.
Review Exclusion 1: Flood Damage
Review Exclusion 2: Damage from Neglect
Does the policy explicitly exclude damage from acts of war?
Maximum allowable deductible amount.
Date of last policy modification regarding exclusions.
Which exclusions are you most concerned about?
Policy Updates and Renewals
Check for recent policy updates, upcoming renewal dates, and any necessary adjustments.
Policy Renewal Date
Renewal Premium Amount
Renewal Method
Agent/Broker Contact Information
Last Review Date
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