Dairy farms can be decimated by serious flooding, especially when it is unexpected or outside of the usual flood regions. Losses of livestock, milking equipment, farm tools, and more add up to a costly recovery, and farmers trust their flood insurance companies to be ready to compensate them fairly when a loss event takes place. However, sometimes farm insurance companies don’t treat their policyholders fairly, and farms need to take action to protect their rights.
If you have been unable to negotiate a fair resolution on a flood insurance claim, here are some options for working through the disagreement and maximizing your claim:
- Don’t accept an offer from the insurance company that you aren’t comfortable with. If you aren’t sure if the insurance company is offering a fair resolution for your flood claim, don’t accept the offer until you’ve had a chance to review it thoroughly.
- Speak to an attorney who is experienced with insurance disputes. An attorney who is familiar with similar types of agricultural claims can guide policyholders through the necessary steps to identify problems with their flood claims and demand fair treatment from insurers.
- Take independent steps to document damage and collect evidence of losses. If you are relying solely on assessments and estimates prepared by the insurance company or its contractors, talk to your attorney about bringing in a contractor you trust for another opinion. You will also want to start collecting the documentation, photographs, and other evidence needed to prove that you deserve more for your farm’s losses.
For more information about farm losses and insurance claims, take a moment today to request your FREE copy of our easy-to-understand book, Understanding Agricultural Insurance Claims.