Agribusiness 2- Philadelphia Insurance Companies

Farmowners Insurance That Grows More Benefits


Feeding the country (and the world) is not only a big responsibility for today's farmers and agribusinesses, it's also big business.

Farming alone contributed over $130 billion to the United States economy last year. The U.S. is the world's top food exporter, shipping over $139 billion in agricultural products in 2018.

But keeping the world fed has become more challenging over the years for these businesses due to extreme weather, out-of-control wildfires, and loss of farmable land impacting crops year over year.

With so many expensive damages outside their control, farmowners insurance is key to providing the financial and risk resources to get back to work. But, at this critical time, some carriers stopped offering farmowners insurance or reduced umbrella limits.

Philadelphia Insurance Companies (PHLY) did just the opposite. "With our deep underwriting experience across parallel and similar niches such as guides, outfitters, land conservancies, and dude ranches, it made sense for PHLY to round out our portfolio with farmowners and agribusiness insurance and include several unique, hard-to-find benefits," says Nathan Bleich, Vice President, Commercial Lines Underwriting at PHLY.


Agribusiness Insurance Has More Benefits at PHLY

PHLY offers your agribusiness clients the solid liability coverages they need through farmowners and commercial agribusiness insurance.

Farmowner businesses across the U.S. eligible for coverage include:

  • Beef cattle and dairy farms
  • Sheep, goat, and horse farms
  • Fruit and vegetable farms
  • Orchards, groves, wholesale nurseries, and vineyards
  • Ranches and more

Commercial agribusinesses across the U.S. eligible for coverage include:

  • Feed, grain, and hay dealers and feedlots
  • Feed manufacturing (except horse feed and alfalfa pellet mills)
  • Feed supplement dealers
  • Grain warehouses and growers, packers, and shippers (except leafy green operations)
  • Seed merchants/processors, sod growing operations
  • Wineries, wholesale nurseries, and more

Bleich says, "Key benefits in the insurance program provide the solid coverage you expect, along with additional endorsements and extras for flexible coverage tailored to each business's unique needs."

PHLY coverage includes:

  • General liability: Protects against liability claims for property damage or bodily injury happening on the premises or caused by operations or products. PHLY has limits of $1M for each occurrence/$2M aggregate.
    • Farmowners insurance offers additional farm liability with limits of $1M for each occurrence/$2M aggregate and includes a deluxe endorsement at no charge
    • Commercial agribusiness insurance offers employee benefits liability

  • Property: Provides financial reimbursement in the case of property damage or theft and if someone other than the owner or renter is injured. PHLY offers business income, vandalism reward reimbursement, replacement costs, boiler or mechanical breakdown, and elite property enhancements.

  • Auto: Provides coverage for owned/non-owned and hired autos for liability and physical damage. It can also include rental reimbursement.

Plus, PHLY can help protect every part of the agribusiness with Directors and Officers, Employment Practices, and Cyber Security coverages. PHLY provides Inland Marine, Flood, Earthquake, and Bell endorsements with generous limits and a Crisis Management Enhancement endorsement with a $25,000 limit.

PHLY Doesn't Stop There

Your clients can also count on PHLY for:

  • $10M Umbrella liability
    While other carriers may have decreased their umbrella liability limits - the coverage in excess of the customer's regular liability limits - PHLY has limits of up to $10M.

  • Crop insurance
    With crop losses in the tens of billions due to weather and fire, one critical insurance plan that may be missing from other carriers is crop insurance. PHLY is pleased to make this vital insurance available through its sister company, Tokio Marine HCC. With over half a billion in crop insurance coverage in force, TMHCC is a valuable part of the benefits of working with PHLY.

  • Environment and pollution
    On a farm, protecting the surrounding environment is critical. So is protecting farmowners from liability if pollution occurs. "PHLY has a robust program to help with runoff and chemical drift concerns, which is a differentiator in the industry," says Bleich.

  • PHLYTRAC
    This program available through PHLY's extensive risk management team offers GPS monitoring and training to lower the costs and potential for driver-related accidents. This no-cost benefit available to insureds is especially significant when you consider that auto accidents are actually the top agribusiness claim.

  • Local contact
    PHLY has representatives all across the country who are familiar with your client's locations and agribusiness activity and concerns.

Get More with The PHLY Difference

Your agribusiness clients deserve one-stop shopping with a carrier that provides more when others have reduced coverage or pulled out of the market. With an A++ Superior Rating for Financial Stability from AM Best Company, they can trust PHLY to be there for them through wind, hail, fire, flood, or any equipment/building damage they face.

Learn more about PHLY's insurance solutions for commercial agribusinesses and farmowners by visiting our product pages or contacting your PHLY representative today.

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