Disclaimer

The policy information given on this page is a summary containing basic information of home insurance packages and forms offered by Farmers Mutual Insurance Company of Nodaway County. These details are not exhaustive or comprehensive. Please consult your individual policy documents for a complete description of your coverage types, levels, and policy conditions. 

Fire and Extended Coverage Forms

The FL-1 form is the most basic coverage form offered here at Farmers Mutual of Nodaway County. The form includes coverage for basic perils such as fire, lightning, wind, explosion, hail, and some others. This form does not automatically include liability coverage, which must be added on separately. Dwellings that are typically written under an FL-1 form include lower quality homes, homes that are undergoing renovations and are unoccupied, and mobile homes that are not on a permanent foundation. Policies written on an FL-1 form also do not automatically include Coverage B or Coverage D, but they can be added onto the policy for an extra premium charge. All claims on a policy written with an FL-1 form are settled on an actual cash value basis

The FL-502 form is the next step up in coverage from an FL-1 form by covering basic and broad perils. Liability coverage is not automatically included in the form’s coverage, so it must be added on separately. Dwellings that are written on an FL-502 do not have to be owner-occupied. Dwellings that are typically written on an FL-502 include rental houses that are in good condition, homes in average condition, homes that are in good condition but don’t meet homeowner or package coverage criteria, farm dwellings that are not owner-occupied, mobile homes on a foundation, occupied homes that are undergoing renovations, or homes that are built in a manner similar to a shed or pole barn. Claims on a policy written with an FL-502 are settled on an actual cash value basis. An endorsement can be added to the form to add replacement cost coverage to the contents of a dwelling only.

Homeowners Coverage Forms

The HO-2 form provides broad coverage protection for newer and larger homes that are better quality than those that would be written on an FL-502. Like an FL-502, a HO-2 form covers both broad and basic perils. A policy written on a HO-2 expands coverage to include coverage against water and sewer backups from drains and sump pumps, adds replacement cost to some outdoor equipment and contents, and identity theft coverage, theft, and malicious mischief, among other additions. The main difference between a HO-2 policy and an FL-502 policy is that the HO-2 policy comes with personal liability attached, so it does not have to be added on separately. However, this means that an HO-2 policy can only be written on non-farm homes that are owner-occupied. For claims made on property covered under Coverage A, Coverage B, and Coverage C, the losses are paid under replacement cost terms. However, under Coverage C, losses are paid on an actual cash value basis for items like antiques, memorabilia, or other items that cannot be duplicated or have historical contribution to their value, unused or obsolete items, or items that are in poorly maintained condition. 

The HO-3 form provides special coverage for newer homes that are of excellent quality. Property covered under Coverage A and Coverage B on an HO-3 is insured on an open perils basis. This means that as long as the cause of loss is not specifically excluded in the policy, the loss will be covered. Property covered under Coverage C is insured under the broad perils. Like the HO-2 form, personal liability coverage is included in an HO-3 form. Dwellings covered under an HO-3 form must be owner-occupied and non-farm dwellings, as farm dwellings typically carry farm liability insurance with them. For claims made on property covered under Coverage A, Coverage B, and Coverage C, the losses are paid under replacement cost terms. However, under Coverage C, losses are paid on an actual cash value basis for items like antiques, memorabilia, or other items that cannot be duplicated or have historical contribution to their value, unused or obsolete items, or items that are in poorly maintained condition. 

Condominium Coverage Forms

The HO-6 form provides coverage for condominium units that are owner-occupied year-round. Our condo coverage includes Coverage A and Coverage D. While it is not automatically included, Coverage C can be added to a condo policy at an additional premium charge. These coverages are settled on replacement cost terms when insured on an HO-6 form. Personal liability coverage is included in a condo policy when written on an HO-6 form. However, a condo may also be written on an FL-2 form if personal liability coverage is not needed. Coverage is provided for the following perils:

  • Fire & Lightning
  • Wind & Hail
  • Explosion
  • Freezing
  • Water & Sewage Backup
  • Theft
  • Riot or Civil Commotion
  • Aircraft
  • Vehicle
  • Smoke
  • Collapse
  • Volcanic Eruption
  • Vandalism
  • Falling Objects
  • Weight of Ice, Sleet, or Snow
  • Artificially Generated Electrical Currents
  • Refrigerated Food Spoilage
  • Sudden Tearing, Cracking, Burning, or Bulging of Water, Air Conditioning, or Heating Systems
We also provide coverage options for condos that are only occupied seasonally. These condos are written on an FL-502 form, and their conditions differ slightly from condos that are occupied year-round. Seasonally occupied condos include the same coverage levels and protection from the same perils as those that are occupied year-round, but they mainly differ in their settlement terms. Seasonal condos have claims settled on an actual cash value basis for the dwelling itself, while any contents that are added are covered under replacement cost. 

Dwelling Packages

Dwelling packages offer more flexibility for policyholders whose needs may not be met by a form FL-1 or FL-502, but their homes do not meet the criteria of a Homeowners dwelling. Package policies offer more protection by providing different settlement terms depending on the property that is damaged. For each package policy, the dwelling itself is insured on an actual cash value basis. However, the dwelling’s roof is covered by replacement cost for wind and hail damage. The contents of a dwelling on a package policy are also covered by replacement cost. Package policies cover losses by the following perils:

  • Fire & Lightning
  • Windstorm & Hail
  • Theft
  • Smoke
  • Vandalism
  • Burglary Damage
  • Explosion
  • Vehicle
  • Collapse
  • Sinkhole
  • Falling Objects
  • Aircraft
  • Volcanic Action
  • Water Damage & Sewers
  • Weight of Ice, Sleet, or Snow
  • Refrigerated Food Spoilage
  • Riot or Civil Commotion
  • Artificially Generated Electrical Currents
All packages include Coverage ABC, and D. Limits for Coverage B and D for each package policy start at 10% of the Coverage A limit. The limit for Coverage B and C in each package can also be increased if more coverage is needed. All package policies except for the Elite Rented Dwelling must be on homes that are owner-occupied. 
  • Coverage level ranges from $50,000 to $170,000.
  • Dwelling must be in “good” condition.
  • The Coverage C limit starts at 30% of the Coverage A limit.
  • Coverage level ranges from $50,000 to $175,000.
  • Dwelling must be in “very good” condition.
  • The Coverage C limit starts at 30% of the Coverage A limit.
  • Choice dwelling packages are not available for customers located in Southeast Missouri.
  • Coverage level ranges from $50,000 to $200,000.
  • Dwelling must be in “excellent” condition.
  • The Coverage C limit starts at 40% of the Coverage A limit.
  • Preferred dwelling packages are not available for customers located in Southeast Missouri.
  • Dwelling is rented to others and not owner-occupied.
  • Coverage level ranges from $80,000 to $350,000.
  • Dwelling must meet homeowners requirements and be in “excellent” condition.
  • Coverage C not included. 
  • Coverage level ranges from $80,000 to $350,000.
  • Dwelling must be in “excellent” condition.
  • The Coverage C limit starts at 50% of the Coverage A limit.
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