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Sawmill insurance

Started by armyturner, January 08, 2020, 07:42:13 PM

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armyturner

I'm looking at a small band mill. My bank said I will need to purchase insurance, but I'm having trouble finding someone locally that will insure the mill. My best bet was Farm Bureau, but they declined as well. Any ideas?

Southside

Welcome to the Forum. Where are you located? As soon as you say "sawmill" insurance companies get the willies, but there are a few companies out there. 
Franklin buncher and skidder
JD Processor
Woodmizer LT Super 70 and LT35 sawmill, KD250 kiln, BMS 250 sharpener and setter
Riehl Edger
Woodmaster 725 and 4000 planner and moulder
Enough cows to ensure there is no spare time.
White Oak Meadows

WV Sawmiller

@armyturner .

  Where are you located? Are you looking for liability insurance of an Inland Marine policy to cover it from theft or damage?  My Nationwide dealer here in southern WV brokers for another company and I just paid mine (Liability only) Monday for the upcoming year. My rate is $653/yr FWIW.

  Be sure to ask for an Inland Marine policy if looking for comprehensive insurance. I felt the rates I was offered for them was excessive for the amount of coverage they offered so I declined and self insure. I could afford to repair or replace the mill but had to have liability insurance as the the risk was too great there.
Howard Green
WM LT35HDG25(2015) , 2011 4WD F150 Ford Lariat PU, Kawasaki 650 ATV, Stihl 440 Chainsaw, homemade logging arch (w/custom built rear log dolly), JD 750 w/4' wide Bushhog brand FEL

Dad always said "You can shear a sheep a bunch of times but you can only skin him once

PAmizerman

It took me several years before I finally found a company to cover me. 
Where are you located? 
Woodmizer lt40 super remote 42hp Kubota diesel. Accuset II
Hydraulics everywhere
Woodmizer edger 26hp cat diesel
Traverse 6035 telehandler
Case 95xt skidloader
http://byrnemillwork.com/
WM bms250 sharpener
WM bmt250 setter
and a lot of back breaking work!!

donbj

My woodmizer is actually insured as a trailer because of the wheels/hitch.
I may be skinny but I'm a Husky guy

Woodmizer LT40HDG24. John Deere 5300 4WD with Loader/Forks. Husky 262xp. Jonsered 2065, Husky 65, Husky 44, Husky 181XP, Husky 2100CD, Husky 185CD

Brian_Rhoad

I googled "insurance coverage on sawmill" and got some results.

Here is one: https://firstlightprograms.com/wood-products-sawmill-lumber-insurance/

SawyerTed

An independent agent should be able to find a company to insure your mill.  My agent has a company that insures farm equipment, that company had no problem insuring my mill.
Woodmizer LT50, WM BMS 250, WM BMT 250, Kubota MX5100, IH McCormick Farmall 140, Husqvarna 372XP, Husqvarna 455 Rancher

porcupine

Quote from: armyturner on January 08, 2020, 07:42:13 PM
I'm looking at a small band mill. My bank said I will need to purchase insurance, but I'm having trouble finding someone locally that will insure the mill. My best bet was Farm Bureau, but they declined as well. Any ideas?
I have homeowners ins. with Farm Bureau. My agent included my mill on the policy.
$200 additional per year. Includes travel on road too.
Although I have never taken it off property...she's grounded :D
Kubota M5040  2007
Kubota U35 Mini-Ex  2016
Brute Force 18-24 Firewood Processor 2022
Brute Force Grapple
Super Split HD
Logrite Cant Hook, Pickaroon
Stihl MS250, MS461, MSE 220
Lamar 16' Dump Trailer
Load Trail 20' Tilt Trailer

John S

I have two policies, one for the mill and another for liability when I take it on the road. The total cost for both is about $1000.
2018 LT40HDG38 Wide

KenMac

I went all out trying to stay totally legal when I started my LLC, so I had a hard time finding an agent who would put in the work to secure insurance for my mill. I finally wound up with a policy through Cinncinatti Insurance. It is terribly expensive ($5,000 annually). I will cut back somehow this year since my business has not grown at the projected rate due to my failure to properly market and push the business. This agent was the ONLY one to put any effort in trying to understand what I needed. I will provide contact info if you will message me.
Cook's AC3667t, Cat Claw sharpener, Dual tooth setter, and Band Roller, Kubota B26 TLB, Takeuchi TB260C

SawyerTed

My policy covering my tractor and my mill is $250 annually.  That includes the "terrorism"/riot/vandalism coverage.

Liability for my business is $600 annually.

Woodmizer LT50, WM BMS 250, WM BMT 250, Kubota MX5100, IH McCormick Farmall 140, Husqvarna 372XP, Husqvarna 455 Rancher

millwright

I have an inland marine policy on mine which wasn't too bad  it covers the mill against theft and damage while stationary or on the road  but it is not liability when sawing, that is a different policy. I think it is about 275.00 a year for 20,000 on the mill

PAmizerman

I misread this. 
I believe what he asking is not for liability insurance or vehicle insurance.
The bank wants insurance on the mill itself in case of fire or damage. And the bank will be named as loss payee until the loan gets payed off. I did this when I bought my skidsteer since the bank financed it. My bank has a company that they work with regularly. Did you ask the bank if they have a company they work with?
Woodmizer lt40 super remote 42hp Kubota diesel. Accuset II
Hydraulics everywhere
Woodmizer edger 26hp cat diesel
Traverse 6035 telehandler
Case 95xt skidloader
http://byrnemillwork.com/
WM bms250 sharpener
WM bmt250 setter
and a lot of back breaking work!!

scsmith42

Welcome to the Forestry Forum.

The Stanley McDonald Agency of Illinois, in LaCross, WI offers sawmill replacement insurance.  Their phone number is 888-796-2411.  They were able to sell me a policy in NC back in 2013.
Peterson 10" WPF with 65' of track
Smith - Gallagher dedicated slabber
Tom's 3638D Baker band mill
and a mix of log handling heavy equipment.

Southside

I have used the same company as well.  
Franklin buncher and skidder
JD Processor
Woodmizer LT Super 70 and LT35 sawmill, KD250 kiln, BMS 250 sharpener and setter
Riehl Edger
Woodmaster 725 and 4000 planner and moulder
Enough cows to ensure there is no spare time.
White Oak Meadows

terrifictimbersllc

I have my sawmill insured for damage/loss through Liberty Mutual. A local independent agent arranged this. Full replacement value is about $74000 (includes my state sales tax) costs about $1100 per year.
DJ Hoover, Terrific Timbers LLC,  Mystic CT Woodmizer Million Board Foot Club member. 2019 LT70 Super Wide 55 Yanmar,  LogRite fetching arch, WM BMS250 sharpener/BMT250 setter.  2001 F350 7.3L PSD 6 spd manual ZF 4x4 Crew Cab Long Bed

WV Sawmiller

   I think this may be another FF one hit wonder where someone logs in, posts a question, then rides off into the sunset never to be heard from again. ::) I see that pretty often and bet Jeff has a long list of them somewhere.
Howard Green
WM LT35HDG25(2015) , 2011 4WD F150 Ford Lariat PU, Kawasaki 650 ATV, Stihl 440 Chainsaw, homemade logging arch (w/custom built rear log dolly), JD 750 w/4' wide Bushhog brand FEL

Dad always said "You can shear a sheep a bunch of times but you can only skin him once

armyturner

I found insurance through a USAA underwriter for about $300/yr. Thanks for the responses.

Southside

Dang - I am a  USAA member as well and last time I checked they would not touch anything business related.  What steps did you take to get there? 
Franklin buncher and skidder
JD Processor
Woodmizer LT Super 70 and LT35 sawmill, KD250 kiln, BMS 250 sharpener and setter
Riehl Edger
Woodmaster 725 and 4000 planner and moulder
Enough cows to ensure there is no spare time.
White Oak Meadows

WV Sawmiller

   I will echo Southside's observation. I have checked with USAA in the past and they refused to insure any of my business concerns. Its a shame as they have been great for my home and auto needs.
Howard Green
WM LT35HDG25(2015) , 2011 4WD F150 Ford Lariat PU, Kawasaki 650 ATV, Stihl 440 Chainsaw, homemade logging arch (w/custom built rear log dolly), JD 750 w/4' wide Bushhog brand FEL

Dad always said "You can shear a sheep a bunch of times but you can only skin him once

TimW

I have Farm Bureau covering fire and theft on my LT40Wide.  Around $60 a month.  They wouldn't add it to my tractor and trailer's inland marine policy.
hugs,   Brandi
Mahindra 6520 4WD with loader/backhoe and a Caterpiller E70 Excavator.  My mill is a Woodmizer LT40HD Wide 35hp Yanmar Diesel. An old Lull 644D-34 called Bull

moodnacreek

Shopping for insurance for anything odd can leave you thinking it can't be done. I once faced eviction for lack of insurance [garage liability and fire legal liability] . I called many agents and waited only to be turned down. I was in trouble. Then somebody said, call this guy and then every thing fell in place. I never even tried to insure the sawmill until one day I was in and old machine shop and heard the owner talking to an agent about a policy. He sold me one to.

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