Blanket vs. Scheduled Coverage

BLANKET: The FPP coverage under a Blanket form covers FPP usual and incidental to the operation of a farm. Coverage is for the described farm location(s) as well as off farm locations (some mileage radius limits may apply). The blanket form allows the insured to choose (based on inventories) the coverage needed without listing each item.

The advantages and concerns of Blanket coverage center around:

 

SCHEDULED: The FPP coverage under a Scheduled form also covers FPP usual and incidental to the operation of a farm. Coverage is only for the FPP specifically described and insured. Coverage can extend beyond the insured premises but there may be limits. Some forms cover borrowed equipment, generally on an excess basis, while the item is in the care, custody and control of your insured. Newly acquired mobile equipment and/or specifically described livestock are generally covered for up to 25% of the total coverage on the category of items insured, not to exceed a specified amount.

Always refer to the policy forms for full description of coverages and limitations.

The advantages and concerns of Scheduled Coverage:

 

Perils insured against

Many Blanket and Scheduled forms insure against all perils except those excluded.

Some forms use the “named perils” coverages which include, but may not be limited to:

Fire and lightning, wind or hail, VM&M, theft, collapse, flood, vehicle, overturn, etc. The livestock forms also provide for certain optional coverages, generally electrocution, attack by dogs or wild animals, drowning, accidental shooting, etc.

Don't forget to refer to the policy terms and conditions - they spell out the coverages that apply and do not apply.