Crop insurance is an important risk management tool available to farmers and ranchers looking to be able to recover for a poor crop yield or revenue decline. Farmers and ranchers can utilize one of two types of crop insurance, each of which is regulated differently: federally subsidized multiple-peril crop insurance or state-regulated private crop insurance. Find licensed producers that sell crop insurance in Iowa that can help you determine what is best for you and your crops.
Disability insurance provides benefits if one becomes disabled and therefore unable to work. It can be available as short-term disability and long-term disability through your employer group. An individual disability policy can also be purchased through a licensed insurance agent who can help determine what may be best to protect you and your family.
Flooding - even if only a few inches of water - can cause tens of thousands of dollars in damage, which is generally not covered by homeowners insurance. The National Flood Insurance Program provides flood maps of communities to help you understand whether you are in a high risk area, a moderate-to-low-risk area, or an undetermined-risk area. The National Flood Insurance Program also allows eligible homeowners, renters and business owners to purchase flood insurance. Consumers can download and review the Post-Disaster Claim Guide for information that may assist with understanding their policy, steps to take to prepare for a claim, and what to do in the event of a claim. The guide also has charts for keeping track of claim related items and a home inventory.
Travel insurance can help put you at ease knowing that your dream vacation will be covered in the event of bad weather or unexpected events. However, travel insurance policies can vary greatly in what they cover and it’s important to read the fine print to make sure what is covered and what is not covered. Double-check to make sure you are purchasing coverage from a licensed insurance producer and company. You also should determine what already is covered under your current insurance policies.
Workers’ Compensation Insurance
Workers’ compensation insurance provides certain benefits to employees injured during the course of their employment. Iowa Workforce Development’s Division of Workers’ Compensation makes determinations about eligibility for workers’ compensation benefits. Once the workers’ compensation benefits have been granted, the insurance company is required to pay policy benefits. The Iowa Insurance Division has no authority over the determination for eligibility for workers’ compensation benefits. However, the Iowa Insurance Division does have authority over payment of claims if they are awarded, an employer's dispute of rate increase or audit disputes of its workers' compensation coverage, and the rates and forms filed by an insurance company providing workers' compensation coverage in the State of Iowa. When voluntary market coverage is not available to the employer, the residual market, the market of last resort, is available.
Surplus Lines Insurance
When every road to buy coverage fails, surplus lines insurance (sometimes called excess lines insurance) may be the answer. Sometimes the unconventional, huge, or substandard nature of what needs to be insured makes it impossible to get insurance through regular lines of insurance because the insurance companies are unable or unwilling to accept the risk. For those instances, a licensed insurance agent that has been authorized to sell surplus lines insurance can help provide coverage. While the insurance agent is licensed by the Iowa Insurance Division, the rates and policy language are not reviewed by the Iowa Insurance Division and not all of Iowa’s insurance laws apply to surplus lines insurance. Authorized insurance companies that sell surplus lines insurance have the flexibility to create policies that insure the otherwise uninsurable.