Monday, April 9, 2012

Farm Insurance

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Between purchasing a truck, a house, and a farm, I felt like I was on the phone with different insurance agencies all day.

Turns out I need insurance BEFORE the closing.  Add that to the list of things that make complete sense, but that I hadn't realized before buying a farm.

Before I say anything else, I should mention that I have a LOT to learn about insurance.  And less than three weeks (hopefully!) to learn about it.  Most farmers I know carry insurance through Nationwide (which seems like the best option for me so far).  They give a 5% discount to CT Farm Bureau members (only $200 a year) and they carry all of the different insurances I'll need (from home and auto, to chest freezer and farmers' market policies).

I had budgeted $350 a month for insurance.  I mostly made that number up, based on numbers from my parents, state insurance averages, and a free general quote I got a while back.  I was concerned it would be much higher than that, but by bundling all of my coverage through agribusiness insurance Nationwide quoted me at only $200 a month.  Thank goodness!

The insurance company also needs an appraisal (my goodness - if ONE MORE PERSON asks me for an appraisal I'm going to...I don't know...order yet another appraisal, I guess).  I hope to get quotes from a couple of other companies and select a policy this week!  Whoop-dee-doo!

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