Federal Crop Insurance Fraud
In the midst of the Great Depression of the 1930s, the federal government created crop farmers insurance programs to help farmers who were suffering from the drought and other financial hardships to keep their farms insurance. The program persisted in the same way until the mid-1990s, when it became privatized, or handed over to private insurance companies.
To file a fraudulent claim against a federal crop farmers insurance company, a farmer might make a false claim, such as over-reporting the losses of crops to a drought, or even reporting losses on a crop that was never even planted. Some farmers engaged in fraudulent activities, nicknamed "farmers insurance farmers" simply entered the business to attempt to collect money from farmers insurance companies, with no intention to ever plant a crop insurance.
Reporting Crop farmers Insurance Fraud
Government agencies such as the U.S. Department of Agriculture do not necessarily have the means to fully monitor the activities of private crop farmers insurance agents and their customers. In fact, in 2005, there were only 100 employees in the USDA's Risk Management Agency with the job of monitoring 2 million farmers insurance policies throughout the nation. Because of this imbalance in oversight power, often fraud in the federal crop farmers insurance program goes unreported.
The federal government usually must rely on the farmers insurance companies themselves to find and report fraud. Some of the farmers insurance companies take this responsibility seriously, and aggressively pursue and prosecute those individuals and farms that attempt to commit fraud. However, many other farmers insurance companies have little interest in using their own resources to insurance self-police their own organization and take little action against farmers involved in fraudulent activities.
Article Source: http://EzineArticles.com/4179386
Farmers, like car owners and home owners, should insure their farm and its property. The right farmers insurance will cover your farm operations to make sure you do not lose your farm an accident. There are several types of farmers insurances in the market, and you will need to choose the one that suits you best. The farmers insurance should be able compensation in case thieves raid your farm or your crops are damaged through natural disaster.
Types of farmers insurance
Peril farmers insurance covers your farm property against risks such as floods, theft, lighting as well as hail. It takes of care risks that are out of your control and which can usually cause massive loss. The farmers insurance company is going to compensate you in case you lose farm products or livestock due to these perils.
The farmers insurance should also cover your farm equipments and machinery. When you buy this farmers insurance, you should expect it to cover everything that is used in running your farm including the machinery. It should pay for machinery repairs and other damages. Crop farmers insurance, on the other hand, is meant to protect you against crop failure. Since crop production is reliant on weather conditions, you can not predict your harvest. You should therefore insurance your crops to make sure you get compensated in case you get a poor harvest because of poor weather conditions. The premium charged by the farmers insurance company will depend on the revenue you expect to get from your harvest.
It is also important to know about liability farmers insurance and how it works. This farmers insurance covers you and your employees against any accidents that nay occur in the farm. Consumers are also covered under this farmers insurance so in case one of your customers gets sick after consuming products from your farm, the farmers insurance will pay for the damages. Auto farm farmers insurance covers your farm car as well as property that may be damaged during transit. The driver is also covered in this farmers insurance. You may also want to take farmers insurance cover to protect you against loss of income in case your livestock are stolen or a fire destroys everything in your farm. The farmers insurance company will determine your compensation based on your previous earnings and how much you have paid as premium.
How to get cheap farmers insurance
The cost of farmers insurance can vary from one company to another. It is therefore important to shop around and compare prices so you can get the best deal available. You can do your search online or contact several companies by checking their phone number on the yellow pages. Your relatives and friends can also recommend you to a cheap farmers insurance company.
Finding the right farmers insurance can be a great investment since you will be assured of compensation in case of loss. Look for a farmers insurance that covers all property in your farm including crops, livestock, machinery, employees and vehicles. In conclusion, choose a farmers insurance that suits your budget.
Article Source: http://EzineArticles.com/6797495
There are forms of farmers insurance for nearly every aspect of modern life. Of course, many are highly specific to certain activities or forms of property but there are some basic forms of farmers insurance that everyone should know about. One of the most useful is Renter's farmers Insurance, which is the counterpart of Homeowner's or property farmers insurance for Renters. This form of farmers insurance protects the renter's personal property against damage by fire or other catastrophe and theft. Most policies also have a liability coverage that will cover payments to the landlord for accidental damage done by the tenant.
Other forms of farmers insurance are intended to be additional to property farmers insurance and cover areas that are omitted in these policies. This category includes Earthquake farmers Insurance, a necessity in California. This farmers insurance covers damage caused by an earthquake. It may be preferable to obtain the broader coverage offered in Earth Movement farmers Insurance, which includes landslide, mud flow, earth sinking, rising or shifting, as well as earthquake. It is normal for either of these types of farmers insurance to require that the structure have a foundation that is bolted or otherwise earthquake protected.
A number of types of farmers Insurance Policies are designed to protect farmers and ranchers. The basic is Farm Property Coverage farmers Insurance, which covers residential dwellings, other structures, household personal property, and farm personal property, such as equipment. Extended coverage is offered in a Farmowners-Ranchowners Insurance Policy, which is a package policy providing Property coverage on farm dwelling buildings and contents, as well as barns, stables, and other farm outbuildings. This type of insurance policy also includes liability coverage is also included.
Crop farmers Insurance, is crucial for farmers and growers, especially those who grow crops that are very expensive to obtain and grow, yet very sensitive to conditions such as wine grapes. Crop farmers insurance provides protection for all types of crops against damage by hail, windstorm, and fire. Traditionally, crop-hail coverage was the most common coverage sold. There are other forms of insurance policies that offer protection from insects, such as locusts, and micro-organisms.
Farmers and growers usually cannot insure against rain, unless it is torrential and causes flooding of the fields. However, Rain farmers Insurance is available to promoters of outdoor events, from million dollar rock concerts to a nursery school bake sale. These insurance policies pay a benefit in the case that rain.
Article Source: http://EzineArticles.com/2029488
