Fireman’s Fund Offers Equipment Breakdown Coverage for Farm and Ranch Customers

NOVATO, Calif.--(BUSINESS WIRE)--Farms have changed over the years and so have the risks. From sophisticated computers that analyze soil and weather to high-tech sensors that monitor the size and quality of crops, non-traditional farm equipment has never been more valuable to agricultural operation or more vulnerable.

Most standard insurance policies don’t cover equipment breakdown, even though an unexpected mechanical problem can be devastating to the bottom line of a farm or ranch operation. To address this issue, Fireman’s Fund has introduced equipment breakdown insurance which protects against short circuits and power surges to mechanical breakdown, motor burnout, and boiler damage under one policy.

“Equipment has become more sophisticated, harder to repair, and more expensive to replace,” explains Jerry Sink, Farm & Ranch product management executive, Fireman’s Fund. ”That’s why we are offering coverage for direct property loss, loss value of spoiled products and materials, lost farm income, and extra expenses to limit loss and speed recovery.”

While combines and tractors are typically protected by property insurance, other specialized farm equipment is often left out. Equipment breakdown insurance offers protection from a broad range of exposures, including mechanical equipment, electrical distribution systems, heating and cooling systems, electronic systems and communication equipment, and boiler and pressure vessels.

Equipment breakdown insurance covers the physical and financial damage associated with breakdowns, including:

• Direct property loss – covers the cost to repair or replace the damaged equipment
• Business income – replaces income lost due to a total or partial business interruption following equipment breakdown
• Service interruption – income coverage for interruptions due to loss of electricity and other services caused by equipment breakdown
• Extra expenses – pays the extra costs to sustain normal operations, such as jobbing work out or renting equipment
• Expediting expenses – covers other expenses incurred to limit the loss of business restoration

This coverage is an important new protection for a wide range of agricultural operations from crop farms and livestock ranches, to orchards, vineyards, and affluent hobby farms. Fireman’s Fund has served the needs of American farmers since 1876 when it was the first company in the United States to write insurance on standing grain.

About Fireman’s Fund

Fireman’s Fund Insurance Company is a premier property and casualty insurance company providing personal, commercial and specialty insurance products nationwide. It is rated ‘AA-’ by Standard & Poor’s Rating Services. Fireman’s Fund is a member of the Allianz Group (NYSE:AZ), one of the world’s largest providers of insurance and financial services. For additional information, visit www.firemansfund.com.