What it does
FL 04 50 adds as insureds the persons or organizations scheduled in categories: those from whom the insured leases land, lessors or real estate managers of premises leased to the insured, independently contracting operator-managers of a farm the insured owns or leases, and those from whom the insured leases equipment, each for the described location or equipment.
Who needs it
Farmers who rent ground or buildings, whose leases require the landowner to be named; landowners who use operator-managers; farms leasing equipment.
Quoting and selling notes
Collect each landlord's name and the land or premises leased. ISO also has FL 20 75 (lessor of leased equipment) in carrier filings. Wording reviewed: 10 06 edition.
How it fits the farm liability policy
A farm liability endorsement changes only the coverages it names (Coverage H bodily injury and property damage, Coverage I personal and advertising injury, Coverage J medical payments, or a coverage it adds). The rest of FL 00 20, including the definitions of "farming", "custom farming" and "insured location", continues to apply. When presenting a quote, list each farm liability endorsement and its schedule entries so the insured sees how the base form was broadened or narrowed.
