DO YOU HAVE YOUR EQUIPMENT VALUED RIGHT

Current and accurate values on your equipment are a must in making sure your insurance policy has you sufficiently covered.  Although tractors and combines are a very large part of a farms equipment coverage, many of these pieces are reaching the six digit figure.  Many  farmers trade in equipment and receive paperwork that only shows the difference owed on the two pieces of equipment instead of the actual value of the newly purchased equipment.  The difference is not what needs insured but rather the actual value of the new piece of equipment.  Many policies have coverage in place for replacement equipment but many times this is only at a $50,000 to $100,000 value when in reality replacement cost is much higher than that leaving you uncovered.  Make sure you have your equipment coverage added at the time of purchase. Give us the year, make, model, value, and the loss payee address and phone number and we can submit a request to have it added to you policy.  Don’t forget that vehicles can also fall into this category.  Another item to take note is the differences in policies – some have a limited amount of coverage for replacement equipment but not new equipment.  If you are ever in doubt about the coverage you have, contact your Union Colony Insurance Agent for help interpreting your policy.  Our Union Colony website has a great place for you to add equipment.http://www.unioncolonyins.com/customer_service/default.aspx. Add your equipment here and follow up with a phone call and we will take care of your insurance.