What it does
FP 03 04 replaces the deductible section of FP 00 90, the Mobile Agricultural Machinery And Equipment Coverage Form and the Livestock Coverage Form. If one occurrence causes losses under two or more coverage forms of the Farm Coverage Part that exceed their separate deductibles, only the highest applicable deductible is applied.
Who needs it
Farms where a single storm or fire could damage buildings, machinery and livestock at the same time.
Quoting and selling notes
A low-cost way to avoid stacking deductibles; ask the carrier whether it is available on the account. Wording reviewed: 01 98 edition.
How it fits the farm policy
A farm program endorsement changes only the coverage forms named in its "this endorsement modifies" list. Everything else in the Farm Coverage Part keeps working as written: the FP 00 90 additional coverages, conditions and definitions, the causes of loss selected from FP 10 60, and the farm liability forms. When presenting a quote, list each farm endorsement with its schedule entries (insured location, building or item, limit, deductible) so the insured can see exactly where the base coverage was broadened or narrowed.
