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Protecting Your Ranch: Insurance Insights with Julie Davidson [episode 66]

Updated: Oct 21


header graphic Protecting Your Ranch: Insurance Insights with Julie Davidson [episode 66]

Listen to Protecting Your Ranch: Insurance Insights with Julie Davidson on: Apple Podcasts | Spotify | Your platform of choice  



Julie Davidson, an experienced insurance professional, joins host John Haskell on the podcast today to share her farm and ranch insurance insights and considerations for how to protect your ranch. Key insights include the importance of regular policy reviews, the pitfalls of outdated coverage, and the critical role of insurance scores in setting premiums. Julie also emphasizes the need for adequate liability insurance, including liability umbrella and premises policies, and explains the impact of claim frequency on insurance ratings.


In this episode, Protecting Your Ranch: Insurance Insights with Julie Davidson, we cover: 

  • The role of an insurance adjuster and their involvement during claims

  • Challenges farmers face when switching agents or inheriting policies from previous generations

  • Basic livestock insurance options, such as coverage for death loss on the road, and why you shouldn't rely solely on blanket coverage

  • The necessity of maintaining adequate liability coverage to prevent severe financial consequences from lawsuits

  • Several elements that influence insurance scores, such as claim frequency, credit score, and the frequency of changing insurance providers


Meet Julie Davidson:

Julie has over 20 years of experience in the insurance industry, including many years as a Claims Specialist, where she handled complex liability, farm/ranch, commercial, and property casualty claims. For the last several years, she has worked as a producer, licensed in four states, specializing in farm and ranch coverage. She has also spent most of her adult life immersed in the world of Ag, including many years on the leadership team of a large implement dealership group, many years handling the books and business aspects for a large cow/calf operation, and, of course, the best part, general labor in the great outdoors, processing, feeding, etc. She has three children, two are grown and living in TX, and the youngest is about to start his senior year. They all love spending time hiking, fishing, and exploring the Bighorn Mountains.

  

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More about the Ranchonomics podcast:  

Welcome to Ranchonomics, where we empower you to build a better ranch and transform your operation into a thriving business. This podcast is brought to you by Ranch Right LLC, and together we will look at essential strategies, mindsets, and processes needed to take command of your financials and master the business metrics that make all the difference. If you are ready to start winning at ranching, then you are in the right spot. 


With each episode of Ranchonomics, you will hear inspiring success stories, gain simple yet powerful financial literacy tips, and listen to insightful interviews with industry experts and real-life practitioners. 


Whether you are a seasoned rancher or just starting out, we believe that managing a ranch shouldn't mean drowning in paperwork or missing out on valuable opportunities. Our mission is to help you see the link between your daily ranching operations and your financials that allow you to go from chaos to clarity and achieve your goals. 


Join us as we explore the intersection of ranching and finance, helping you understand your numbers and make informed decisions that propel your business forward. 

Subscribe now and start your path to a more profitable, less stressful ranching experience with Ranchonomics. It's time to harness the full potential of your operation. 

 

Make sure to hit subscribe/follow so you never miss an episode! 

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