(February 2018)
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IM 7302–Irrigation Equipment Coverage Form insures mobile machinery and equipment that are used to irrigate crops. This property has unique characteristics because it may remain in a single field for a season or may be moved regularly to other fields. The equipment is moved from the fields and into storage buildings after its season of use is over which can result in a significant exposure increase if all equipment is placed in the same storage building. The equipment comes in a variety of sizes, shapes, and forms.
Any individual or commercial business that owns irrigation equipment or uses irrigation equipment of others but only when it is subject to regular movement and could not be better covered under another coverage form or policy is eligible.
AAIS Scheduled Property Floater coverage requires at least these four forms:
Related Article: CL 0100–AAIS Commercial Lines Common Policy Conditions
This Schedule of Coverages is used with IM 7302–Irrigation Equipment Coverage. IM 7307 contains the following information:
The 01 12 edition added a space to enter the policy number.
The Catastrophe Limit is the most paid for loss to irrigation equipment in a single occurrence.
The limit on the Schedule of Coverages for this coverage
applies to all covered locations.
The limit is $5,000 unless a different limit is entered.
These coverages provide additional limits of coverage or additional coverage. Required entries vary by type of coverage.
The limit is $5,000 unless a different limit is entered.
The limit is $10,000 unless a different limit is entered.
The deductible amount must be entered in the space provided.
One of the following coinsurance options must be selected:
This section of the schedule of coverages lists endorsements and forms included when the policy is issued.
The previous edition referred to this
section as Optional Coverages and Endorsements.
This analysis is of
the 10 09 edition.
The terms
"you" and "your" are defined
as the party(ies)
that is identified on the declarations as the insured. "We,"
"us," and "our" are defined as the
insurance company that provides the coverage. Other terms throughout this
policy and coverage form have unique definitions. It is important to refer to the
Definitions Sections at the end of the
coverage form to review those unique meanings.
The insurance company agrees to provide the coverage
described in the coverage form and in the schedule of coverages and the named
insured agrees to pay the premium. This agreement between the parties is
subject to all the coverage form's terms, conditions, endorsements, and
definitions.
Coverage applies to
the property described below, subject to any exclusions or limitations.
1. Coverage
Covered property is
the named insured's irrigation equipment and it is covered
for direct physical loss by a covered peril. Similar irrigation equipment of
others that is in the named insured’s care, custody,
and control is covered in the same manner.
2. Coverage
Limitation
In order for
equipment to be covered, it must be described on the equipment schedule. This limitation
applies to both the named insured’s equipment and the property of others.
Note: Irrigation equipment coverage is usually based on the value or limit of each scheduled
item. This may not be practical in every case, especially when the named
insured has a large number of insurable items. Some insurance companies may
consider writing this coverage on a blanket limit basis, describe in general
the type of irrigation equipment being insured, and
declare a maximum limit for each item in addition to the catastrophe limit that
applies in a single occurrence.
Six specific types of property are excluded:
1. Aircraft or
Watercraft
This property is more correctly insured under aircraft and watercraft coverage forms and policies. It is important to remember that Unmanned Aerial Vehicles (UAV) or drones are aircraft and therefore not covered.
2. Contraband
Property that is
illegal to possess is not covered. Property that is legal to possess but that is being used as part of an illegal trade or that is being
transported illegally is also not covered.
3. Leased or Rented
Property
Property that the named insured leases or rents to others is not covered.
Note: This property is better covered under an equipment sales and rental coverage form that is designed for the lack of control that can occur with rented or leased property.
4. Loaned property
When property is loaned to others,
problems can occur due to lack of control and knowledge of the equipment. This does
not stop the named insured from taking its equipment and being in control of it
at another site. The important issue is who is in control and monitoring the
equipment.
5. Vehicles
Automobiles, other self-propelled vehicles, trailers, and similar conveyances intended for use on highways are not covered.
Note: This property is more correctly insured under commercial automobile coverage forms.
Related Article: CA 00 01–Business Auto Coverage Form Analysis
6. Waterborne
Property
When irrigation is waterborne it is not covered unless is in transit while in a carrier for hire's care, custody, or control.
Provisions That Apply
To Coverage Extensions
There is one coverage extension. Its limit is either the limit on the schedule of coverages or the default limit included in the coverage form. This limit is part of the applicable limit for covered property and not in addition to it unless otherwise indicated. This limit is not added to or combined with limits for any other coverage extension or supplemental coverage and is not subject to any coinsurance provisions that apply elsewhere in the coverage form.
Debris Removal
When a covered
peril damages or destroys covered property, the cost to remove any created
debris is covered under this extension.
Debris removal does
not include any costs for removing, restoring, replacing polluted land or water or to extract pollutants.
There are two parts
of the Limit section. The first is restricting any debris removal payment to no
more than 25% of the amount paid for the actual direct physical loss or damage.
The second part is that when the debris removal and the physical damage loss are added together, no more than the limit of insurance is
paid.
An additional
$5,000 (or a higher amount entered on the schedule of coverages) is available
if the debris removal expense is more than 25% of the loss amount or if the
combined cost of loss and debris removal is more than the limit of insurance
for the covered property.
The named insured
must report debris removal expenses to the insurance company within 180 days of
the loss date in order for this coverage extension to apply.
Provisions That Apply
To Supplemental Coverages
There are three supplemental coverages. The limit for each is the limit for the supplemental coverage unless there is a limit for that coverage on the schedule of coverages. Limits for any supplemental coverage are separate from and not part of the applicable limit for covered property.
The limit available for coverage described under a supplemental coverage is the only limit available for it. It is not the total of the limit for a supplemental coverage and the limit for covered property. The limits are not added to or combined with limits for any other supplemental coverage or coverage extension. They also are not subject to any coinsurance provisions that apply elsewhere in the coverage form.
1. Newly Acquired
Property
a. Direct physical loss or damage to irrigation equipment the named insured acquires during the policy period is covered when caused by a covered peril.
There are restrictions. The most paid is the lesser of the covered property’s value as explained in the Valuation section or $5,000.
The coverage applies for only 30 days following the date of acquisition; this is further modified to state that regardless of the 30 days, the coverage ends when the equipment is reported by the named insured or when the policy expires, whichever comes first.
Additional premium is due as of the acquisition date.
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Example: Vern's Irrigation Service owns a wide variety of irrigation equipment. One of his competitors decides to retire and offers Vern his remaining stock of irrigation equipment after having divested himself of most of it over the past year. Vern likes what he sees, offers twenty-five cents on the dollar of their value, and the competitor accepts the offer. Vern plans to pick up the equipment in about two weeks and decides to wait until then to report the acquisition to his insurance agent so he can inventory it and provide an accurate list to his agent. Until then, this supplemental coverage insures this property. |
2. Pollutant Cleanup and
Removal
The named insured's expenses to extract pollutants from land or water are covered if a covered peril that occurred during the policy period in any way caused their release or discharge. However, there are significant restrictions.
The expenses must be reported to the insurance company within 180 days of the date of loss.
Testing for, evaluating, observing, or recording pollutants costs are excluded except for those required as part of a covered pollutant extraction process.
A
12-month policy period aggregate limit of $10,000 applies. This limit can be increased.
Example: Vern is pulling a piece of irrigation equipment when it detaches and tumbles down a slope into a small pond. The equipment had a trace amount of chemicals at the time that had to be removed from the pond. This additional coverage pays its $10,000 limit and Vern pays the remaining cost. |
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Coverage applies to risks of direct physical loss or damage unless the loss is limited or caused by an excluded peril.
1. Primary Exclusions
The first group of
exclusions is essentially absolute. Subject to specific exceptions, loss or
damage by each is totally excluded, regardless of any
other cause or event that contributes to a loss, either concurrently or in any
other sequence. The insurance company does not pay for any direct or indirect
loss or damage caused by or that results from any of these events.
a. Civil
Authority
There
is no coverage for a loss that results
from an order any civil or government authority issues. These orders may include seizure,
confiscation, destruction, or quarantine of property but this exclusion is not
limited to only these. The only exception is when the loss or
damage is caused by a civil authority destroying property as a means of
controlling a fire. This exception applies only if the fire is the
result of a covered peril.
b. Nuclear Hazard
The insurance
company does not cover loss or damage caused by or that results from any
nuclear reaction, radiation, or contamination. This is absolute and applies
whether the nuclear incident was controlled or not, and by whatever means
caused. Any loss the nuclear hazard causes is not treated
as a loss that fire, explosion, or smoke causes. The only exception is when a
fire results from the nuclear fire, direct loss or damage from that fire is covered but the damage from the nuclear hazard remains
excluded.
c. War and Military Action
The insurance
company does not pay for loss or damage caused by any act of war. Undeclared
and civil war or warlike action by a military force are
all considered war. All actions taken to hinder or defend against an actual or
expected attack by any government or sovereign authority that uses military
personnel or other agents are also considered war and
excluded. In addition, acts of insurrection, rebellion, revolution, or
unlawful seizure of power and any action any government authority takes to
prevent or defend against any such acts are excluded.
If any action within the terms of this exclusion involves nuclear reaction,
radiation, or contamination, this exclusion applies in place of the nuclear
hazard exclusion.
Note: This means that the exception for resulting fire under the nuclear
hazard is not covered when it is the result of war.
2. Secondary Exclusions
The second group of
exclusions applies to loss or damage caused by or that
results from any of the following loss events. Some of these exclusions
have exceptions, conditions, or limitations that should be
noted and reviewed carefully. The insurance company does not pay for any
loss or damage caused by or that results from any of these events.
a. Contamination
or Deterioration
Loss or damage that
is caused by contamination or deterioration is
excluded. This applies to corrosion, decay, fungus, mildew, mold, rot, and rust.
It also applies to any quality, fault, or weakness in covered property that
causes it to damage or destroy itself. However, this exclusion is not limited
to only these described causes.
b. Criminal,
Fraudulent, Dishonest, or Illegal Acts
Coverage does not
apply to loss caused by or that results from criminal, fraudulent, dishonest,
or illegal acts that any of the following commit alone or in collusion with another:
Coverage applies if
employees destroy property. It does not apply if employees steal.
This exclusion does
not apply to covered property in the custody of carriers for hire.
Coverage for this
exposure should be purchased using a commercial crime
coverage form.
Related Article:
ISO Commercial Crime Coverage Forms and Policies Analysis
c. Freezing
Loss or damage that is caused by or that results from freezing is excluded. If pipes burst because of freezing, the damage to the pipes and the damage resulting from the burst pipes is also excluded.
Example: John
told his son to drain all liquid from the irrigation equipment before storing
it. The son is distracted because of an upcoming date and forgets to complete
the draining task. In the spring when the equipment is being readied for the
season, John notices cracks in one piece of equipment and
also notices damage to equipment around it due to the leaking of the
pipe. All of the damage is excluded. |
d. Loss of Use
There is no coverage for loss caused by or that results from delay, loss of use, or loss of market.
Example: The
damage from the equipment freezing is going to delay John getting his
equipment out for at least two weeks. There is no coverage for that delay
time, even if freezing had been covered. |
e. Mechanical Breakdown
When mechanical, structural, or electrical breakdown or malfunction causes a loss, it is excluded. The loss is excluded even if a breakdown is the result of a structural, mechanical, or reconditioning process. However, if a specified peril occurs as a result of any of these, coverage applies to the loss or damage that the specified peril causes.
f. Missing
Property
The
unexplained or mysterious disappearance of covered property is excluded when there is no physical evidence to suggest
what happened to it and the only proof that a loss occurred is based on an audit or physical inventory. The one exception
is that this does not apply to covered property in the custody of carriers for
hire.
g. Pollutants
There is no
coverage for loss caused by or that results from any release, discharge,
seepage, migration, dispersal, or escape of pollutants. There are three
exceptions:
h. Temperature/Humidity
Coverage does not apply to loss that dryness, dampness, humidity, changes in, or extremes of temperature causes. There is an exception. If a specified peril occurs as a result of any of these, coverage applies to the loss or damage that specified peril causes.
i. Voluntary
Parting
Loss to covered property that is
voluntarily given to others is not covered, even if the surrender was
due to a fraudulent scheme, trick, or false pretense.
j. Wear and Tear
Loss caused by
wear, tear, marring, or scratching is excluded. There
is an exception. If a specified peril occurs as a result
of any of these, coverage applies to the loss or damage that the specified
peril causes.
1. Notice
The named insured
must give prompt notice of a loss to the insurance company or its agent. The
notice must include a description of the property lost or damaged. If a
criminal act caused the loss, the appropriate law enforcement agency must also be notified. The insurance company has the right
to require that any notice to it be in writing.
2. You Must Protect
Property
During and after a
loss, the named insured must take all reasonable steps to protect covered
property from further loss. The insurance company pays reasonable costs the
named insured incurs but to do so the named insured must maintain accurate records to substantiate the
costs. Paying these costs is not in addition to the policy limits. There is no
coverage for any repairs or emergency measures performed on property not
already damaged by a covered peril.
Note: Such costs incurred reduce the amount available to pay the actual loss.
3. Proof of Loss
The named insured
must complete and return the insurance company's prescribed proof of loss forms
within 60 days after the company requests it. The information provided must
include the time, place, and circumstances involved with the loss and
information on any other insurance coverage that may apply. It must also
include the named insured’s interest and the interest of others with respect to
the property involved, including lienholders, loss payees, and mortgagees. Any
changes in the title to the property
during the policy period must be disclosed, in
addition to providing any other reasonable information the company may require
to adjust and settle the loss.
4. Examination
Examination under
oath may be required in matters that relate to the loss. The insurance company
may request these examinations more than once but such requests must be reasonable.
If multiple persons are examined, the company has the
right to examine each individual separately.
5. Records
The named insured
must produce any records related to the loss. The insurance company must be allowed to make copies and take extracts of them as
often as it reasonably requests. Records include tax returns and bank
microfilms of all related cancelled
checks but records are not limited to just these.
6. Damaged Property
Both damaged and
undamaged property must be made available for the insurance
company's inspection as often as reasonably necessary. It must
also be allowed to take samples of the property to the extent necessary
to adjust and settle the loss.
7. Volunteer Payments
The named insured
may not voluntarily make payments, assume obligations, pay or offer rewards, or
incur other expenses without the insurance company's express approval. If it
does, it does so at its own expense. The only exceptions are those costs
incurred to protect property as item 2. above
describes.
8. Abandonment
The named insured
may not abandon damaged property to the insurance company without its written
consent.
9. Cooperation
The named insured
must cooperate with the insurance company and perform all acts this coverage
form requires.
1. Actual Cash Value
The value of the covered property is its actual cash value at
the time of loss. Actual cash is replacement cost new minus depreciation.
2. Pair or Set
The value of a loss
that involves damage to or loss of one part of a pair or set is
based on a reasonable proportion of the value of the entire pair or set.
However, the loss of one part of a pair or set is not
considered a total loss.
Note: This recognizes that the value of the whole
is greater than the value of individual parts but that the remaining parts still
have value as separates.
3. Loss to Parts
The value of a lost
or damaged part of the property that
consists of several parts is the cost to repair or replace only the lost or
damaged part.
1. Insurable Interest
The insurance
company does not pay more than the named insured's insurable interest in the
covered property at the time of loss.
Note: Insurance
is meant to restore a person’s pre-loss financial
position, not to improve or enhance it.
2. Deductible
The insurance
company pays only the amount of loss that exceeds the deductible amount on the
schedule of coverages. This is an occurrence deductible.
3. Loss Settlement
Terms
Subject to the
other items in this section, the insurance company pays the least of the
following:
4. Coinsurance
a. When coinsurance applies to a coverage provided, the insurance company pays only part of the loss if the limit is less than the percentage of the value of the covered property on the schedule of coverages.
b. The following are the three steps to determine the amount of loss to be paid:
Step 1. Multiply the percentage on the schedule of coverages by the covered
property’s value at the time of loss.
Step 2. Divide the covered property’s limit by the result determined in step 1.
Note: There is no
coinsurance penalty if the result is1.00 or higher.
Step 3. There is a coinsurance penalty when step 2. is less than 1.00. Subtract the deductible from the amount of loss and then multiply the total amount of loss by the percentage determined in step 2.
The insurance company does not pay more than the amount determined in step 3. or the limit, whichever is less. It does not pay any remaining part of the loss.
c. If there is more than one limit on the schedule of coverages, this procedure applies separately to each limit.
d. If there is only one limit on the schedule of coverages, this procedure applies to the total of all covered property insured under that limit.
e. This coinsurance provision does not apply unless there is a coinsurance percentage entered on the schedule of coverages.
5. Insurance under More Than One Coverage
Two or more coverages in the coverage form may apply to the same loss. In
that case, the insurance company does not pay more than the value of the actual
claim, loss, or damage sustained.
6. Insurance under More Than One Policy
a. Proportional
Share
The named insured
may have other coverage subject to the same terms as this coverage form. In
that case, this coverage form pays only its share of the covered loss. That
share is the proportion that its limit of insurance bears to the limits of
insurance of all insurance that covers on the same basis.
b. Excess Amount
There may be other coverage available to pay for the loss other than as described in 7. a. above. In that case, this coverage form pays on an excess basis. It pays only the amount of covered loss that exceeds the amount due from the other coverage, whether collectible or not. Any payment is subject to the limit of insurance that applies.
1. Loss Payment
Options
a. Our Options
The insurance
company has the following four loss payment options if a covered loss occurs.
b. Notice of Our
Intent to Rebuild, Repair, or Replace
The insurance
company must notify the named insured of its intent to rebuild, repair, or
replace within 30 days after it receives a properly completed proof of loss.
2. Your Losses
a. Adjustment
and Payment of Loss
The insurance
company adjusts all losses with and pays the named insured unless another loss payee named in the policy is involved.
b. Conditions
for Payment of Loss
The insurance
company pays a covered loss within 30 days after it receives a properly
prepared proof of loss and the amount of loss is established. The amount of loss is determined by
either a written agreement between the company and the named insured or
after an appraisal award is filed with the company.
3. Property of Others
a. Adjustment
and Payment of Loss to Property of Others
The insurance
company has the option to adjust and pay losses that involve property of others
either to the named insured acting on the property
owner’s behalf or to the property owner.
b. We Do Not
Have to Pay You if We Pay the Owner
The insurance company is not obligated to pay the named insured when it pays the property owner. In addition, if the property owner sues the named insured, the company has the option to defend the named insured in that suit.
1. Appraisal
The insurance
company and the insured may not always agree on a covered claim’s value. This
condition provides one method to resolve disputed claims.
Either party can
request an appraisal to determine a disputed claim’s value. Once requested, the
parties have 20 days to obtain their own independent and competent appraisers
and give their appraiser's name to the other party. The two appraisers then
have 15 days to select a competent impartial umpire. If they cannot agree on an
umpire within that time period, either can request
that a judge in the court of record in the state where the property is located
appoint one.
The appraisers then
determine the claim’s value. They submit any differences to the umpire. Once
any two of the three parties agree, the amount of loss is set.
Each party pays its
own appraiser. Both parties share the umpire’s cost and other expenses equally.
2. Benefit to Others
The insurance
provided does not directly or indirectly benefit any
party that has custody of the named insured's property.
3. Conformity with
Statute
Any condition in
this coverage form that conflicts with any applicable law is
amended to conform to that law.
4. Estates
Note: This condition applies only if the named
insured is an individual.
a. Your Death
If the named
insured dies, the person who has custody of the named insured's property is an
insured until a qualified legal representative is appointed. The named
insured’s legal representative becomes an insured once he or she is appointed.
Both are insureds but only with respect to the property
this coverage form insures.
b. Policy Period
is not Extended
This coverage does
not extend past the policy’s expiration date.
5. Misrepresentation,
Concealment, or Fraud
This coverage is
void if any insured at any time willfully concealed or misrepresented a material
fact that relates to the insurance provided, the property covered, or its
interest in the property. It is also void if fraud or false swearing by any
insured took place concerning the insurance provided or the property covered.
Note: The named insured must deal with the
insurance company honestly. Its rights of recovery may be
voided if it intentionally misrepresents or conceals a material fact or
information. This means that the insurance is treated
as simply having never existed versus denying a particular claim.
6. Policy Period
Only covered losses
that occur during the policy period are paid.
7. Recoveries
Paying the loss
does not end the obligations of the named insured and the insurance company
toward one another. Additional provisions apply if the insurance company pays a
loss and the lost or damaged property is subsequently
recovered or the parties responsible for the loss pay for it.
Either party that
recovers property or payment must inform the other. Recovery expenses that
either party incurred are reimbursed first. If the
named insured keeps the recovered property, it must refund the amount of the
claim the insurance company paid, unless the company agrees to a different
amount. If the claim paid is less than the agreed loss due to applying a
deductible or another limitation, any recovery is prorated
between the named insured and the insurance company based on the company's
respective interest in the loss.
8. Restoration of
Limits
Payment of a claim
does not reduce the limit available for future claims unless it is a total loss
of a scheduled item. In that case, the
insurance company refunds to the named insured any unearned premium on that
item.
9. Subrogation
The insurance
company acquires the named insured's rights of recovery from third parties
after it pays a loss. The named insured must help the insurance company secure
those rights. The company is not obligated to pay a loss if the named insured
hinders or impairs the company's rights of subrogation. However, the named
insured can agree in writing to waive recovery rights from others before a loss
occurs.
10. Suit against Us
The insurance
company cannot be sued by anyone for any coverage
until all the terms of the coverage form are met. Suits must
be brought within two years after the named insured first knew about a
loss. If a state law invalidates this condition, any suit brought must comply
with the provisions of that law and begin within the shortest period of time allowed by law.
Note:
It is normal for a
basic coverage form to be modified by mandatory
state-specific endorsements that address issues that relate to that specific
state.
11. Territorial
Limits
Covered
property must be located in the
United States, its territories and
possessions, Canada, or Puerto Rico in order for coverage to apply.
Defined terms are used throughout the coverage form. Restricting their meaning to the definition in it is how all parties have a clearer understanding of the coverage intended. Nine terms are defined:
1. Equipment schedule
This is a list and
description of each item of covered equipment. It is attached
to and becomes a part of the coverage form.
2. Irrigation
equipment
This
is mobile machinery and equipment the named insured uses to irrigate crops. It also includes pumps and attached pipes
but is not limited to just these.
3. Limit
This
is the amount of coverage that applies to the insured property.
4. Pollutant
This is a broad and
expansive term. It is solids, liquids, thermal or radioactive contaminants, and
irritants. It includes, but is not limited to, acids, alkalis, chemicals,
fumes, smoke, soot, vapor, and waste. Waste includes materials intended for
recycling, reclamation, and reconditioning, as well as for disposal. Visible
and invisible electrical or magnetic emissions and sound emissions are also considered pollutants.
5. Schedule of
coverages
This
is any page labeled as such that contains coverage information, including
declarations or supplemental declarations.
6. Sinkhole collapse
This is the earth’s
surface suddenly settling or collapsing into an underground opening created by
water that acts on limestone or some other rock formation. Sinkhole collapse
does not include either the land’s value or the cost to fill sinkholes.
7. Specified perils
These are the named
perils of aircraft, civil commotion, explosion, falling objects, fire, hail,
fire extinguishing equipment leakage, lightning, riot, sinkhole collapse,
smoke, sonic boom, vandalism, vehicles, volcanic action, water damage, the weight of sleet, snow or ice and windstorm. Two
terms need further explanation.
Falling objects
does not include loss to personal property stored in the open. It also does not
include damage to the interior of buildings or personal property stored in
buildings unless a falling object first breaches the building's exterior.
Water damage is the
sudden or accidental discharge or leakage of water or steam. However,
it must be a direct result of a part of the system or appliance that holds the
water or steam cracking or breaking.
8. Terms
These are all
provisions, limitations, exclusions, conditions, and definitions that apply to
this coverage.
9. Volcanic action
An airborne
volcanic blast or shock waves, ash, dust, and particulate matter. However, the cost
to remove dust, ash, or particulate matter that does not directly damage
covered property is not covered. Lava flow
is also volcanic action.
AAIS has developed the following schedule for use with this coverage form:
This schedule is used with IM 7302–Irrigation Equipment Coverage and IM 7307–Schedule of Coverages–Irrigation Equipment Coverage. It lists and describes each item of covered irrigation equipment. A limit of insurance must be entered for each item.
Note: Additional company specific endorsements may be available and used. Each should be examined to determine its effect on coverage, especially when some may impose restrictions or controls that may be minimum requirements or prerequisites for the company to provide coverage or to accept a particular exposure.
Irrigation is artificially applying water to soil to enhance the growth of
crops. It is mostly used in dry areas and during
periods of low rainfall but it has other limited applications, such as to
protect plants against frost.
There are various types of irrigation techniques. The primary difference
between them is in how they obtain and distribute water within the field. The
primary goal is to supply water uniformly so that each plant has the proper
amount of water it needs.
Manual irrigation is the watering of the land with
watering can using only manual labor.
Surface irrigation
systems use gravity to move the water over the land and saturate the soil. This is
the most frequently used method to irrigate agricultural land.
Localized irrigation distributes
water under low pressure through a piped network in a predetermined pattern and applies a small amount to or near each
plant. Some of the types are listed below:
Equipment may be at
a storage location, in transit, or in the field working. Each aspect has its
own exposure risks that must be explored and underwritten.
The major concern with
equipment in storage is a concentration
of values, amount of surveillance, and activities such as welding and repair
that may take place while the equipment is in storage. The equipment may be
overwintered at a central location that may be visited
on an infrequent basis. It is important to know the total value of all
equipment stored at a single location. It is important to apply commercial
property underwriting guidelines at any storage location.
Related Article:
Commercial Property Underwriting Considerations
The major concern
when equipment is in transit is the radius of operations, the types of roads
the equipment is used on, and the abilities of the operator moving the
equipment because overturn and collision damage are
major exposures. As with other types of automobile and transit policies, the
experience of the operator is paramount. It is important that only experienced drivers with acceptable MVRs be permitted to transport the equipment.
The major exposures
when equipment is in the field are theft, overturn, and vandalism. As a result,
the length of time the equipment remains in a particular field is important
along with surveillance of the equipment while it is at the location.
The equipment
itself must be evaluated based on its age, condition, damageability,
size, and value. There are a number of perils that should be
considered:
Accurate loss information
is very important in the evaluation. If there is loss frequency, higher
deductibles may encourage a named insured to become more vigilant in loss
prevention.