First Acre’s Leap Towards Efficient and Comprehensive Farm Insurance Coverage

Quoting an insurance policy, especially farm coverage, is not as straightforward and seamless as most insurance brokers would like. Take into consideration a large farming operation with a commercial business and personal assets to boot. Quoting something of this magnitude can be incredibly time consuming given each line is typically quoted separately and often has a large insured asset value. Large operations are not always able to be insured by a single carrier making the process even more cumbersome and potentially leading to gaps when it comes to errors and omissions. 

Through First Acre Insurance™, brokers have an advantage with the Cover your Assets All-in-One insurance policy where farm, commercial and personal are insured on one single policy.  

With the unique structure of the business, First Acre has pre-filled subscription lines which is a game changer when it comes to farm insurance. Often, because of their high value or the risk they present, farm operations need to be split between several capacity partners. While this is incredibly time consuming to undertake for a broker, it also becomes burdensome to get a policy quoted. Time for negotiating between capacity partners, various rates and differing wordings creates burdensome problem solving, increased workloads and potential E & O exposures for the broker.  While this is common, it doesn’t have to be that way. Because First Acre Insurance truly understands agriculture from the inside out, the solutions have been developed for the ease and efficiency of the broker while providing farmers modernized and customized, specific coverage for this sector. 

Given the time constraints shopping around for non filled subscriptions, it can take several weeks to get coverage figured out for farm clients. With pre-filled subscriptions and a new digital platform, First Acre is able to quote, bind and issue a farm policy in 30 minutes*. 

Taking the time to understand how insurance is quoted, the structure behind the policies and the tools available for quoting is worth investigating. As insurance evolves, there is room for farm insurance to make leaps and bounds to solve age old inefficiencies and operate more effectively for the 21^st century farmer. The knowledge of both the agriculture and insurance industries are second to none at First Acre Insurance which reflects the unique coverage and tools available to brokers for their farm clients.  

*In preliminary tests, also dependent on size of farm operation