Acreage

An acreage is referred to under property policies as your dwelling which is located on more then the usual lot size. What you are doing with your acreage will often determine what type of policy you will require. If you are raising chickens or growing a vegetable garden with intent to sell your produce then you will likely need a farm policy. If you have outbuildings then you need to declare what use you are making of these structures.

If you are fortunate enough to have your home on a few acres of land and do not engage in any farming activities then often you need not concern yourself with farm liability. This is a decision made by the insurance company. Do not assume that the new company will treat your situation the same way as they may have different underwriting rules.

If you offered storage in one of your outbuildings then you should discuss commercial insurance. The items you have in storage, even if they are vehicles which already have their own insurance, are in your care, custody and control. You will be held accountable for damage.

Often an acreage owner will ask for farm rates for their vehicles. The insurance companies look at the actual occupation of the insured and do not give farm rates to someone who is not actually farming. Vehicle class is considered by the use of the vehicle and farm trucks are normally used on the farm and have little pleasure use.

You always need to keep your agent or broker informed of your current situation and discuss possible changes. Insurance correctly done with an increase in premium is less expensive then a claim not paid.