insurance on tanks ?

Was doing some inventory the other day,,realized  of eggs in my tank were valued close to 150K...problem I have is my blanket farm policy wont cover it to that value,,and will only pay on theft and fire wind type damage..anybody out there have a company they go through that would let me insure a tank at value of contents?

I have Nationwide Agribusiness and they insure my tank contents as a scheduled coverage item.  I believe my deductible is $250.00 on the contents.  It covers any accidental damage to the semen including tank failure, and also theft.

I do not have mine insured for anywhere near 150K, so I'm not sure how high they would go.  I would say for the right premium they would though.  I also have all my more valuable cows scheduled with a $500.00 deductible for any accidental death or theft.

I don't know how you got Nationwide to insure your tank under those terms because I had mine insured with them and it failed. Called in the claim and was denied because it wasn't a wind, flood, etc type of loss. I had told my agent specifically that I wanted failure covered and he said no problem. Talking with the adjuster, they claim they never insure anything under those type of terms. May want to double check. Just my experience. Out $15K in semen.

Our State Farm Insurance has a rider policy to cover semen tanks and contents.  Premium is based on $$ in tank.  Worth being able to sleep at night!

If you have that much in valuable semen and embryos in your tank.  I think it would be MUCH cheaper to just store it at a major distributors facility.  Somewhere that monitors their tanks daily.  Definitely would not count on an insurance company to cough up $150K.

ZNT said:

If you have that much in valuable semen and embryos in your tank.  I think it would be MUCH cheaper to just store it at a major distributors facility.  Somewhere that monitors their tanks daily.  Definitely would not count on an insurance company to cough up $150K.

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Real good point.

ZNT said:

If you have that much in valuable semen and embryos in your tank.  I think it would be MUCH cheaper to just store it at a major distributors facility.  Somewhere that monitors their tanks daily.  Definitely would not count on an insurance company to cough up $150K.

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I learned my lesson several years ago. I had a tank rupture unexpectedly and of course it was the tank that contained 43 embryos along with about $20,000 of semen. From that day on, I have stored all my embryos at the ET center, and never have any here in my tanks at home. If I am implanting I have them shipped as needed or they bring them with them when they come to implant at the farm. I thought I had insurance  as well, but found out that my insurance compant did not cover semen tanks even though my insurance agent had told me it was covered. Make sure you check this out fully before you put your faith in an agents word.
Another reason I store all embryos at the ET center, is that they can be shipped easily to anywhere from there, and they retain their export status. If they are stored in a farm tank they lose their export status.  ... another of many stupid bureaucratic rules!

I would store in et center,,but we flush our cows on the farm,,guy that does it has no facilities .