Farmers Package Insurance
We will help you protect your most valuable asset...your farm! The farmowners policy is designed for farmers who own acreage and engage in some degree of farming or own livestock. This is a package policy offering property coverage for your farmhouse and its contents, barns, storage buildings, other buildings and their contents, machinery and equipment, stored crops, plus personal liability protection. Help us design the right coverage for your needs at the right price!
If you are farming on a rented property, we can provide property protection for your owned equipment and livestock plus personal liability protection. Just because you do not own the farm doesn't mean you have less to lose or a lower probability of loss. Protect yourself and your property with the right farm tenant insurance protection.
Commercial Auto Insurance
Most farmers use pickup trucks in their daily operation. Sometimes, those pickups can be covered under personal auto policy. However, if the farmer owns larger vehicles or specialized trucks (cattle trucks, grain haulers, etc.), we can insure those vehicles on a farm commercial auto policy. Commercial auto rates, in part, are affected by:
- the size of the vehicle
- the operating radius
- the driver and his record
State law requires Workers Compensation (WC) coverage for all of your employees. Employers should cover any and all employees. While North Carolina Law says you must provide Workers Compensation coverage with 3 or more employees, employers with only one employee are still liable for that worker's injuries. Whether part-time or or full-time, employees are covered on the job for work-related injuries and lost time from work.
WC rates are affected by:
- Job classification
- Total payroll for each class
If you board, breed, race, train, give riding instruction or conduct any kind of business related equine activity you need a Commercial Equine Liability policy. Commercial liability insurance pays the the damages for liability imposed upon you or your business by the law. It also pays the cost of defending you when a claim is made against your policy.
Equine Liability Laws may help you provide a defense in the event of an equine incident but they will not prevent you from being sued. Homeowners and Farmowners policies exclude commercial equine activities. Without adequate liability coverage you will have to pay damages and defense costs yourself. If these damages and costs are high enough you may suffer financial hardship or bankruptcy.
Coverage available for valuable animals, including cattle, club calves, horses, 4H or FFA animals.
This term insurance for your livestock will pay the agreed of your animal if it dies from any accidental or natural causes. Includes Emergency Colic Surgery Expense at no additional charge on horses. It even pays this benefit if your pet is stolen.
Crop and Hail Insurance
To learn more about our Crop and Hail Insurance Policy, call us today for your free quote!
Life Insurance provides financial protection for you and your family. It is used to cover debt obligations (mortgages, home equity loans, car loans, credit card debts, etc.) and provide cash flow in the case of an unexpected and premature death of one or more of the family breadwinners. Life Insurance comes in several forms and can also be used for estate planning and purposes. Forms of life insurance:
- Variable universal
- lower initial cost
- protection for a specific time period
- covers a specific need
- option to include income stream
- option to convert to permanent life insurance
- flexible premiums
- flexible coverage amounts
- flexible term
- guaranteed interest rates in a tax-deferred vehicle
- opportunity to accumulate cash value
- access to cash value
- same benefits as universal
- investment subaccounts (mutual funds) to accumulate cash value
- policy guarantees
- protection for your entire life
- access to cash values
- higher initial premium
- tax-deferred vehicle with guaranteed interest rate
Health insurance provides financial protection against a catastrophic medical expense. you can tailor a program of comprehensive major medical coverage to include networks (PPO's) or traditional (any provider) plans. You select your deductible, coinsurance, and options for yourself and family include maternity, prescription drug card, dental accidental medical expense, and a Medical Savings Account (MSA) for the self-employed. Group plans are available for two or more employees.
Disability insurance replaces lost wages due to a long-term health condition that prevents you from working and earning wages. Provide for your family with the disability insurance needed to continue paying your everyday living expenses. Select your level of income, deductible period, term of benefits and options.
Long-Term Care Insurance
Long term care insurance can encompass nursing home and home health care protection. With the cost of nursing home care exceeding $40,000 annually, life-long savings can be depleted in short order. Nursing home and home health care insurance can supplement one's income to pay the full costs associated with a nursing home or home care stay. You can tailor a package of care to provide for a nursing care and/or home health care protection. Choose from many options including daily benefits ($30-$250), length of coverage (1, 2, 3, 4, 5, 6 years, or lifetime), elimination/deductible period (0, 7, 20, 30, 50, 60, 90, 100, 180 or 365 days), inflation protection (5% simple or 5% compound increase), and home health care benefits.
Individual Retirement Accounts (IRA's)
Individual Retirement Accounts (IRA's) are available to any employed or self-employed person who receives earned income or compensation. Contributions to an IRA may reduce your taxable income and earnings may accumulate tax-deferred. The principal and interest of your IRA are not taxable income until they are withdrawn, usually upon retirement or mandated by the IRS after age 70 1/2. Early withdrawals (prior to age 59 1/2) may incur a 10% penalty.
Annuities are insurance company products. They are an investment vehicle used to provide an income stream at some future date. You may make a lump-sum contribution or periodic contributions over time to the annuity. You select the future date when the annuity's principal and interest are repaid to you. Annuities are popular investment vehicles for IRA's, allowing income to be paid in the future over several years, thus reducing the tax impact.
Call us Today!
Mon: 9:00 am - 5:00 pm
Tues: 9:00 am - 5:00 pm
Weds: 9:00 am - 2:00 pm
Thurs: 9:00 am - 5:00 pm
Fri: 9:00 am - 5:00 pm
Iris Fox Insurance
103 Carbon City Road
Morganton, NC 28655