For Our Partners
HSB's new farm program follows farmers into the field.
New coverage fills gap for mobile implements and precision farming technology
HSB has announced a new Farm Equipment and Machinery Breakdown Coverage with several new enhancements, including the first-ever insurance for mobile farm implements and the precision electronics and micro-circuitry that control them.
Protection for mechanical and electrical losses
The optional coverage for the mechanical and electrical breakdown of mobile farm implements, such as seeders, spreaders, sprayers, tillers and their controlling electronics, fills a major gap that has existed up to now in farm owners insurance policies.
"It's a ground-breaking innovation," said Rebecca Galovich, HSB vice president. "We've followed the farmer into the field with coverage for the physical breakdown of farm implements, as well as invisible-to-the-eye microelectronics damage."
Why is this important?
Farmers face repair challenges they couldn't have imagined a few years ago. Today's farm implements and precision farming technology contain sensitive micro-circuits and proprietary computer systems that require specialized technicians to fix.
Idled equipment puts crops at risk
"Farmers practically need a computer expert to fix their own equipment," said Galovich. "And, should equipment break down during planting, growing or harvesting, it can take days to get an authorized dealer or manufacturer technician to the farm for repairs."
HSB will pay for rental implements
HSB is the first insurance company to help close that gap. The implement coverage option not only pays for the cost of repairs, but will cover the rental of replacement implements while the damaged equipment is being fixed.
Renewable energy equipment is covered
Since farmers are operating more renewable energy equipment, HSB Farm Equipment and Machinery Breakdown Coverage includes enhanced coverage for wind turbines, solar energy systems and other generating equipment. It pays for lost income from the sale of energy, the purchase of replacement power, and the loss of renewable energy credits.
Optional income loss for contract growers
HSB's new farm coverage also can cover, as an option, the loss of income for contract farmers who raise hogs and poultry when an equipment failure leads to the deaths of the animals.
Add our coverage to your farm owners policies
HSB's Farm Equipment and Machinery Breakdown Coverage is available now to add to your farm owners policies. Contact your HSB representative for more information.