. Agricultural societies newsletter. Agriculture. 4. INSURANCE PLAY THE UNDER- OVER GAME! Insurance is an eligible expense which most agricultural societies claim on their operating grant. Both Rae and I have noticed a wide variety of policies and coverage. All agricultural society executives should review your policies regularly with a few questions in mind. 1 .Do you have enough coverage? Most owners of buildings must have enough insurance coverage to replace their existing facilities if some major catastrophe happens. Every three years the agricultural society may claim an appraisal under t
. Agricultural societies newsletter. Agriculture. 4. INSURANCE PLAY THE UNDER- OVER GAME! Insurance is an eligible expense which most agricultural societies claim on their operating grant. Both Rae and I have noticed a wide variety of policies and coverage. All agricultural society executives should review your policies regularly with a few questions in mind. 1 .Do you have enough coverage? Most owners of buildings must have enough insurance coverage to replace their existing facilities if some major catastrophe happens. Every three years the agricultural society may claim an appraisal under the operating grant. Even if you do an appraisal every five years, you will ensure that you have a policy that looks at the value of the facilities and will provide the opportunity for your agricultural society to review the policy. 2. Do you have too much insurance? As strange as it may seem, some of the agricultural societies seem to be over- insured. Occasionally, we notice agricultural societies paying for double insurance on their facilities or insurance on their directors. It is not uncommon to see fidelity bond insurance as part of your major insurance policy as well as a separate cheque paid for fidelity bond insurance when you pay the membership dues of the provincial association. 3. Have you compared the rates? Most agricultural societies like to support their local businesses. I would always encourage you to talk to the local people first. The Alberta Association of Agricultural Societies offers an insurance program which is optional for agricultural societies. Municipalities can often offer some inexpensive insurance coverage through their program. We encourage you to shop around for the most appropriate coverage at the best rate. 4. What do you get for your payments? As most of us have found, you often only know the real policy coverage when something happens. Make time to review your policy and talk to your agent about the coverage that you have. In the insurance b
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