5 Takeaways from a Farm & Ranch Agent

Hey, y’all! I’m Annelise Carpenter, an OKFB Insurance agent in Comanche County. My journey to OKFB started when I traveled from my hometown in Decatur, Texas to the great plains of Oklahoma for volleyball. As a student-athlete visiting Oklahoma, I was fascinated with the landscape and all things agriculture. It’s what led me to get my degree in Agriculture Business and make my home in beautiful Southwest Oklahoma.

Now, I have the pleasure of farming and ranching barley and wheat, as well as running commercial cow/calf, stockers, and purebred registered Beefmasters. I take immense pride in working with other local farmers and ranchers to make sure they’re covered and protected.

I have learned a lot from my experience as a farmer and as an insurance agent. Here are five of my main takeaways on Farm & Ranch Insurance now that I’ve been in the business for more than six years! 

1. Work With a Local Insurance Agent

You are the expert! I know that a large number of the customers I work with are generational farmers and they’ve been doing this for a while. Also, farming and ranching is different in every part of the country, and even in the great state of Oklahoma. As a result, non-local insurance companies could have a hard time understanding your specific needs, and may not understand the landscape quite as well. That’s why working with a local agent can be very beneficial.

2. Be Sure to Get Enough Insurance

One thing I’ve noticed is that many farmers and ranchers are underinsured and don’t have everything covered. It’s important to get insurance for your working vehicles, like ATVs, tractors, trucks, etc. If a tornado rolls through and destroys your crops, livestock or machinery, you want to make sure you can recoup your losses and be ready to go for the next farming or ranching season.

3. Meet With Your Agent Often

As an agent myself, thankfully I don’t have to worry about this. But it’s important to take time to meet with your agent to talk through your policy, discuss any updates needed to your farm or ranch, and any future plans you might have. For instance, if you’re expanding, buying land, or adding vehicles, you’ll want to make sure those get added to your policy.

4. Create a Farm Inventory and Share it With Your Agent

Similar to a home inventory, a farm inventory is a detailed list of everything you own on your farm, including tools, equipment, vehicles, machinery, and livestock. Use this list to cross-check that everything is covered in your policy. The list should include a description of each item, serial number, date of purchase, and estimated value. I’ve personally done this and can tell you it will take some time. However, it is so good to have on hand and has helped me and my policyholders multiple times.

5. Prepare for Emergencies

Although we hate to see it, emergencies on a farm can happen. It’s important for you to prepare an emergency response plan and to share it with any ranch hands, employees and family members. Your farm is your livelihood, but ultimately it’s important for you to find safety in the event of an emergency. Don’t worry, OKFB Insurance can help cover your assets.

All in all, these are just a handful of key takeaways from my past six years of experience with insuring farms and ranches, just like yours. At OKFB, we dedicate ourselves to ensuring the protection of you and your livelihood.  Reach out to me or another local agent if you have any questions or need to review your Farm and Ranch Insurance policy. 

Thanks for reading!


Top Insurance Questions Answered by Insurance Agents

When it comes to shopping for Home, Auto, Life and Commercial Insurance, it can be hard to know where to start. No matter how big or small your insurance questions may be, our agents are here to help! Below are five common questions Oklahomans have when trying to decide what insurance is best for them.

Q: When do I need to update my insurance coverage?

A: Major life events, such as moving out on your own, purchasing a car, getting married, etc. These are good prompts to talk with your agent when discussing your coverage. We recommend setting an annual review with your agent. This is the opportunity to discuss changes you’ve experienced in the last year and what you anticipate in the next.

Q: How much life insurance do I need?

A: Everyone’s needs vary when it comes to Life Insurance. There are factors to consider that could affect it. For instance, the ages of your spouse and/or children, future expenses like mortgage or college and more. To get an idea of what might be a good fit for you, check out this Life Insurance calculator.

Q: Does my car insurance cover other drivers?

A: Typically, Auto Insurance follows the vehicle, not the driver. It’s important to consider what your unique coverage entails. For example, if your friend gets into a wreck while driving your car and you’re not insured for collision coverage, they are no more covered than you would have been as the driver. Since policy terms vary, it’s always best to contact your insurance agent before loaning out your car.

Q: What is umbrella insurance?

A: Personal umbrella insurance is a type of insurance designed for when you need extra liability coverage above another insurance policy. It helps supplement items not covered by other policies (such as Home or Commercial Insurance) and could kick in, for example, if you were to be held liable for an amount greater than what one of your other insurance policies covers. Talk to your agent to discuss how much coverage will be right for you, your home or your business.

Q: What type of insurance coverage is a “must” for small business owners?

A: Insurance agents are trained in knowing what insurance products are most suited to your business, your budget and your goals. Many business owners like to start the conversation with Commercial General Liability Insurance to protect their assets in case of injury or property damage. Talk with your agent to discuss how much coverage is right for you!

You can learn more about the right coverage for your unique needs by contacting an OKFB agent near you.