Farmers insurance drone program takes off

Farmers insurance drone

The insurer has become the latest among the large companies to use unmanned aerial aircraft systems (UAS). The Farmers Insurance drone program had its official launch yesterday as the insurer rolled out a fleet of the devices. These unmanned aerial aircraft systems (UAS) will be used to improve the customer claims experience. Insurance companies are increasingly using drones to view damage to roofs and other difficult to reach places. The Farmers Insurance drone units will be deployed by adjusters who need to assess the damage left behind by severe weather.…

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Minnesota auto insurance company to refund $315,000 to over 1,600 drivers

Minnesota auto insurance company rates

Farmers Insurance Exchange has been accused of unfair pricing practices and is reimbursing affected policyholders. Minnesota auto insurance company, Farmers Insurance Exchange, is responding to accusations of unfair pricing practices with a refund to more than 1,600 drivers in the state. The policyholders affected by the pricing practices in question will be receiving a portion of a $315,000 total amount. The insurer is providing the refunds in response to an investigation into the way it was setting its rates. The Minnesota auto insurance provider underwent a pricing practice examination. The…

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Why New York crop insurance should matter to craft beer enthusiasts

New York crop insurance craft beer barley

The state’s industry risks running out of one of its key locally grown ingredients if farmers can’t find coverage. The average person likely doesn’t have much interest in New York crop insurance, believing it to be the business of farmers and politicians. However, a recent development has brought the issue closer to home in a very visible way. Malt barley crops are seen as a risky type of crop for local farmers who hesitate to grow it without coverage. Farmers are reluctant to grow the malt barley crops because of…

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Food truck insurance now available in Utah

food truck insurance

Farmers Insurance has launched this new coverage within the state, providing a first for that company. Farmers Insurance has announced the launch of a new food truck insurance coverage. This will provide protection to that type of vehicle and will be available in Utah. It marks the first time the company has stepped into the mobile restaurant coverage business. The food truck marketplace is growing rapidly larger, presenting a considerable opportunity for insurance companies. By way of the new food truck insurance offering, Farmers has started to sell to licensed…

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Crop insurance slashed through legislation for reducing expenses

Crop Insurance conservation

Growers may see reduced coverage levels in order to save taxpayers $24.4 billion over a decade. Two state representatives in Wisconsin have now introduced a bill called the Assisting Family Farmers through Insurance Reform Measures (AFFIRM) Act, which will slash crop insurance with the intention of providing taxpayers with savings over the next ten years. In the span of a decade, the insurance coverage cuts will mean $24.4 billion in expenses will be saved. According to farm subsidy program critic, Congressman Ron Kind (D), the crop insurance bill will still…

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Last year saw crop insurance payments plummet

crop insurance rules

Since 2014 saw pretty good production throughout the year, the federal program had to make far fewer payouts. In terms of the overall 2014 growing year, the calculations by the Risk Management Agency of the U.S. Department of Agriculture with regards to the federal crop insurance program have shown that last year saw a reduction in payments by 26 percent when compared to the figures from the year before. The agency report showed in 2014, there was a total of $8.8 billion in payments for yield and price loss coverage.…

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Crop insurance price guarantees to drop

us crop insurance program

Grain analysts are expecting those guarantees to fall yet again for corn, soybeans, and spring wheat, this year. According to recent predictions from grain analysts, the crop insurance price guarantees for American spring wheat, corn, and soybeans is going to fall by another 10 percent, this year, based on an analysis of February futures settlement prices. The USDA provides a subsidy for a minimum of two thirds of the insurance premiums paid by farmers. The crop insurance program, itself, has oversight by the USDA Risk Management Agency (RMA), which also…

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Crop insurance could cease to be offered by Deere

crop insurance program

The company is reviewing its options in offering this protection as it works to stay on top of a struggling industry. Deere has been selling crop insurance for eight years, but is now reviewing this part of its business and is considering withdrawal from that market as the well recognized tractor and farm equipment manufacturer continues its struggle in a farm economy that seems to be refusing to recover. The company has stated that it intends to review strategic options when it comes to this coverage unit. That said, Deere…

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Homeowners insurance rates are on the rise in Texas

Texas Homeowners Insurance

Insurance coverage is becoming more expensive because of natural disasters in the past Homeowners insurance rates are on the rise in Texas, and natural disasters may be the cause. The state has not been hit by a major hurricane in six years and devastating wild fires have not been seen since 2011. Despite the apparent lull in catastrophe, rates for insurance coverage continue to grow. This has to do with the lasting impact of natural disasters and how they affect the insurance industry. Texas is prone to disasters and insurers…

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Crop insurance claims are starting to be submitted for damaged wheat

us crop insurance program

Farmers in many areas have found their fields struck by frost, causing considerable issues for harvest. The crop insurance claims have now started to be filed in higher numbers as a result of the wheat that has been damaged by the frosts that have struck several parts of the country, and many agents feel that the numbers will continue to climb. Some agents think that this year will see a higher number of claims of this nature than other years. North Dakota was especially affected by the recent frosts. While…

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