What it does
FP 05 20 rewrites the Coverage E insuring agreement to cover scheduled farm personal property at or away from the insured location, replaces the limited away-from-location extension, and covers bees, beehives and beehive accessories (Basic or Broad perils only, bees only while in hives).
Who needs it
Farms that keep property on rented land, at other farms or at off-site storage, and beekeepers who move hives.
Quoting and selling notes
Ask where property is kept during the year; off-location exposures are common with rented ground. Wording reviewed: 09 03 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.
