As a farm leader, you always like to make sure your people and assets are protected, stressing safety precautions—especially during harvest, checking on your employees' well-being, making sure your equipment's maintenance and safety protocols are followed, and ensuring the farm is on target with its numbers as well as progression toward development goals and targets.
As a farm grows and changes over time, it's often the case that assets, equipments, and side entities can change along with it. By the time an annual insurance review comes around, it can be tough to remember all that's changed in that year. Most of the insurance audits our advisors undertake for new clients end up revealing several gaps in coverage from just this sort of situation. You don't want your operation to get caught with one of these gaps when you most need it.
Lance Burditt talked with KRVN's Dewey Nelson recently about the importance of regular insurance coverage reviews. He explained why doing reviews at least twice a year should be a minimum for any operation. Listen to the full interview by clicking the link.