Center pivots are the centerpiece of an irrigated farm operation, but they are also incredibly vulnerable to Mother Nature.
Fortify Group understands this reality and matches farm and ranch customers with pivot insurance by Great American Insurance, which includes replacement cost coverage and a flat $1,000 deductible.
Why is replacement cost coverage important?
It can be the difference between starting over or starting again using the safety net of replacement coverage.
Many insurance carriers determine coverage by the age of the pivot, meaning the policy may include depreciation or drop replacement coverage entirely after a pivot becomes 10-to-15 years old.
Great American Insurance, however, uses replacement cost coverage to repair or replace a center pivot using today’s value, regardless of its age. Covered losses are settled at replacement cost values without depreciation.
That means, for example, that a 25-year-old pivot destroyed by winds would be replaced with a new model. (Without replacement cost coverage, the insured would receive a depreciated settlement leaving the insured with a substantial monetary loss to overcome.)
The policy protects center pivots against weather-related events, perils, and catastrophes such as:
Mechanical and electrical failure