Sandbox Mutual launches new farm insurance product line

Sandbox Mutual launches new farm insurance product line | Insurance Business Canada

Insurance News

Sandbox Mutual launches new farm insurance product line

The offering includes different protection bundles and boxes

Insurance News

By
Mika Pangilinan

Sandbox Mutual Insurance has announced the launch of its FarmSecure product line, expanding its farm offerings to include new protection bundles and boxes.

A press release described FarmSecure as a “new comprehensive way of bundling and packaging products” aimed at simplifying the protection of farm assets while minimizing gaps and overlaps in coverage.

“The concept of bundling products can offer rewards to Sandbox brokers and our policyholders,” said David Chapman-Collier, manager of product development at Sandbox Mutual Insurance.

“It not only helps in availing discounts for policyholders but also provides additional coverage, simplifies the decision-making process and reduces worries. Offering a packaged product with included blanket limits can reduce error and omissions exposures as well as making the quoting process smooth and faster for brokers.”

FarmSecure introduces bundles for property, production, and equipment protection. The property bundle includes all-risk blanket limit replacement cost coverage for tools, outbuilding contents, and miscellaneous property and equipment used in farm operations.

The production bundle covers grain, fodder, silage, fertilizer/chemicals, and fuel for farm input and output operations.

The equipment bundle safeguards harvest machinery and non-harvest machinery, such as ATVs used for farming purposes, with minimum loss of use limits included.

In addition to these bundles, FarmSecure also offers three specialized boxes to cater to alternative farming set-ups, including coverage for leafcutter and/or honey beekeepers who either do not own a farm or engage in beekeeping alongside their farm operations, and hobby farms located outside of town limits.