1. Forms
2. FP
3. FP-DS-31

What the Form Is

The FP DS 31 is an advisory declarations page developed by ISO for the Farm Program. It is specifically designed to be used in conjunction with the FP 00 30 Mobile Agricultural Machinery and Equipment Coverage Form. While designated as 'advisory,' the information detailed on this declarations page is mandatory and integral to the coverage provided under the FP 00 30. It serves to list and describe the mobile agricultural machinery and equipment being insured, specify applicable limits of insurance (which can be on a blanket or scheduled basis), outline deductibles, and provide other essential information that the main coverage form refers to.

Classes of Business It Applies To

This form is essential for any agricultural or farming operation that requires coverage for its mobile machinery and equipment. This includes, but is not limited to:

• Farms of all sizes (family farms, commercial agricultural enterprises)
• Operations utilizing equipment such as tractors, combines, harvesters, plows, balers, sprayers, and other mobile agricultural implements.
• Businesses whose primary operations involve the use of such specialized mobile equipment in an agricultural context.

For example, a corn and soybean farm would use this declarations page to list its tractors, combine, planters, and other mobile equipment, specifying values and desired coverage limits, which would then integrate with the FP 00 30 to define their insurance protection.

Special Considerations

• Accuracy is Paramount: Any errors or omissions on the FP DS 31 can have significant negative consequences at the time of a claim. It is crucial that all information is accurate and up-to-date.
• Insured's Review: The insured party should meticulously review the declarations page and promptly notify the insurance company in writing of any necessary changes or corrections.
• Mandatory Information: Despite being an 'advisory' form, the details it contains (e.g., limits, covered items) are binding for the policy.
• Company Modifications: Insurance companies often adapt ISO forms to their specific underwriting and policy administration needs. While the core information generally remains consistent, variations may exist.
• Companion Forms: The FP DS 31 is typically used alongside the FP DS 30 (Advisory General Information Declarations) which provides overall policy information, and the FP 00 30 (Mobile Agricultural Machinery and Equipment Coverage Form) which contains the actual coverage terms and conditions.
• Potential for Duplication: Care should be taken if coverage for mobile agricultural equipment might also fall under other forms like the FP 00 13 (Farm Property–Farm Personal Property Coverage). The FP 00 30 (and by extension, the FP DS 31 declarations) is typically primary in such situations.

Key Information for Agents and Underwriters

• Risk Assessment: This form provides a snapshot of the specific mobile agricultural equipment being insured, including its type, value, and how it's covered (blanket vs. scheduled). This is fundamental for assessing the exposure.
• Pricing and Premium Calculation: The limits of insurance and deductibles specified on the FP DS 31 are direct inputs for determining the premium for the mobile agricultural machinery and equipment coverage.
• Coverage Clarity: Ensures both the insurer and insured have a clear, written record of what equipment is covered and for how much, minimizing misunderstandings.
• Underwriting Guidelines: Underwriters will use the detailed schedule or blanket limit information to evaluate the concentration of risk, the types and values of equipment, and to apply relevant underwriting criteria. They will also verify that the information aligns with the farm's operations.
• Deductible Application: The form will specify the deductible that applies per occurrence, which is a key factor in claim scenarios.
• Blanket vs. Scheduled Limits: Understanding whether coverage is blanket (an aggregate limit for all items) or scheduled (specific limits for itemized equipment) is crucial for loss adjustment and ensuring adequate coverage.