United Fire Group (UFG) has launched a new equipment sales and rental (ESR) product for agricultural; lawn and garden; industrial, construction or material handling equipment dealers. Using an AAIS product as its foundation, UFG developed several coverage enhancements, including:
- GAP protection for leased agricultural equipment, which covers the gap between the unpaid loan amount and the adjusted value at the time of a loss
- Rock ingestion, which provides reimbursement for damage done to leased agricultural equipment if a rock is taken into the machinery
- Errors and omissions package, which combines dealer errors and omissions coverage under a single form
This is the first of three new products UFG will be releasing before the end of the year. Coverage and more information about the equipment sales and rental coverage is available through UFG agents.
United Fire Group, Inc., founded in 1946 as United Fire & Casualty Co., writes property & casualty insurance, life insurance, as well as sells annuities, through its insurance company subsidiaries. It is licensed in 43 states, plus the District of Columbia, and is represented by 1,200 independent agencies.