What it does
FL 05 62 replaces definition 12, "insured contract", in FL 00 20 (and modifies the amendatory, basic farm premises and limited crop dusting forms). The definition lists the contracts for which assumed liability is covered, starting with leases of premises (excluding the fire damage portion) and sidetrack agreements.
Who needs it
Farms signing leases, easements and agreements with indemnity provisions, such as land leases, railroad sidetrack agreements and equipment leases.
Quoting and selling notes
Review contracts the farm signs; indemnity clauses outside the definition are not covered. 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.
