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Old MacDonald’s farm is no longer. The 21st century farm business model thrives on being tech savvy, highly mechanized with robust and connected equipment. The world is seeing constant and rapid change when it comes to technology like electric or self driving cars, virtual/augmented reality and artificial intelligence. Farmers are as much a part of this as anyone else. They see and live it everyday. Farmers are invested when it comes to technological advances both on and off the farm. Where old MacDonald was not tech savvy, he didn’t use machine and GPS technology, didn’t run data sets to make decisions and certainly didn’t have precision tools, autosteer or even think about autonomous equipment, the 21st century farmer is.
In the highly technical ag industry, farm insurance needs to meet the farmer where they are. Differentiation from First Acre Insurance™ is changing the norm with modern and fully customizable ag insurance solutions.
Insurance solutions that have never existed before.
What does a modern farm insurance policy look like?
Well first of all, it is one single policy. One policy that combines personal, farm and commercial insurance coverage. Assets and liabilities are covered in one place and assessed as a whole leading to wholistic solutions, less worry and a more seamless experience.
As a technologically driven company, First Acre with its state of the art digital platform, is changing the way insurance is delivered to brokers and farmers by:
- keeping pace with advancements and staying ahead of farmers’ needs
- giving brokers round-the-clock access to quote, bind and issue insurance policies, enabling them to serve their clients at any hour and the entire process can be done in as little as 30 minutes
What is customizable?
Every farm operation is unique and continues to evolve at a fast pace. There is no doubt ag is keeping up with changes encountered in other industries. With rapid change comes changing needs. Thus the importance of customized insurance solutions. A key advantage of a customized insurance policy is that it is tailored to meet the specific needs of the policyholder and their own operation. This means the policyholder can select the coverage limits, deductibles, and types of coverage that are most relevant and necessary to their situation. Having a customized policy means the policyholder can ensure they are not paying for coverage they do not need, and are adequately protected in areas where they are most vulnerable.
The First Acre team’s agricultural knowledge has enabled them to pinpoint the modifications needed to customize full insurance solutions. It isn’t one size fits all.
- Homeowners limits are based on the valuations while limits for contents, detached private structures and additional living expenses can be increased or decreased to needs rather than predetermined percentages
- Geo-coding of all structures to select the ones they want to insure, eliminating the requirement to insure everything.
- Real time machinery valuations with limited information required
The Cover Your Assets Expansion pack is a perfect example of how customizable the insurance solutions are from First Acre. With close to 100 options available to meet farmers’ comprehensive needs, they can rest assured their personal, farm and commercial assets and liabilities are taken care of by choosing the best coverage for them.
Today, there is more focus on how important mental health and wellness are for everyone. Understanding the trials and challenges faced in farming, we have developed CYA Wellness coverage to better help policy holders with the hard things life throws at them.
Equipment breakdown is unfortunately part of farming. First Acre has options under the CYA Equipment Breakdown to help alleviate stress and lost time due to various disruptions or unforeseen circumstances.
Overall, customized insurance solutions are an important risk management tool for individuals and businesses alike, as they provide tailored asset protection
As you can see, today’s farm requires insurance done differently. This comes by modernizing the way insurance is covered, packaged and delivered to brokers and farmers. Technology, digitization and customization are at the forefront of modernizing ag insurance. No farm operation is the same, thus each policy should be different with plenty of options available.
Discover First Acre Insurance, a trailblazer in agricultural insurance.
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