Oct 12, 2026 · 15 min · 9 segments
From barn fires to severe weather, property damage can create costly challenges for farm families. Laramie Sandquist of Nationwide Agribusiness joins to discuss common property risks, practical steps…
Laramie SandquistGuest
Ryan MatthewsHost
From barn fires to severe weather, property damage can create significant financial challenges for our farm families.
Nationwide's claims data shows that property related risks account for 65% of farm claims, with fire, wind, and hail among those leading causes of loss.
Laramie Sandquist, Senior Associate Vice President of Risk Management for Nationwide Agribusiness, joins us to discuss common property risks facing farms, steps farm families can take to prevent costly damage, and how Nationwide's new property risk solutions program can help protect agricultural operations.
Always enjoy our conversations and just hearing about what Nationwide and Nationwide Agribusiness is up to to kind of help our farm families.
Um, when Nationwide looks at, at property claims across farm and agribusinesses, what are some of those most common risks that you guys are seeing?
We look at the data, of course, all the time to see, you know, where are we seeing these issues and, and you hit the some of the big ones.
If you look at the farm space, obviously fire being about 30, 30 to 40% of the claims that come through and, and, uh, wind/severe weather is another 44%, 45%.
So you look at in farm space, fire and weather account for about 75% of those property claims.
On the ag side area, the commercial agribusiness side, it's a little lower than that, but you're talking probably 50 to 60% are attributed to weather and fire.
And, uh, when you start looking at the, the cost of that stuff on the farm side, on average it's about $57,000 that, uh, you know, just to put something back up, and that doesn't include a lot of times the downtime and just, uh, you know, the inconvenience because a lot of times these things don't happen, you know, when you're not busy.
They happen when you're busy, right? When you're out there, you know, in, in production.
And on the commercial ag side, it's, it's upwards of 275,000 for a claim from a fire perspective.
So when we think about the common risks, of course, we, we start with just their operations, right? What are their operations? What are they doing? Uh, what type of equipment are they using? Are they making sure that the equipment is maintained in a proper manner and things like that? You start looking at electrical systems.
I think, uh, you know, we've always known over, over time electrical systems are the cause of a lot of fires.
Um, you know, whether that's the, the older wiring, whether that's temporary wiring, whether that's power strips, whether that's corroded wiring, whether that's weather exposed wiring, you know, things like that.
From barn fires to severe weather, property damage can create significant financial challenges for our farm families.
Nationwide's claims data shows that property related risks account for 65% of farm claims, with fire, wind, and hail among those leading causes of loss.
Laramie Sandquist, Senior Associate Vice President of Risk Management for Nationwide Agribusiness, joins us to discuss common property risks facing farms, steps farm families can take to prevent costly damage, and how Nationwide's new property risk solutions program can help protect agricultural operations.
Always enjoy our conversations and just hearing about what Nationwide and Nationwide Agribusiness is up to to kind of help our farm families.
Um, when Nationwide looks at, at property claims across farm and agribusinesses, what are some of those most common risks that you guys are seeing?
We look at the data, of course, all the time to see, you know, where are we seeing these issues and, and you hit the some of the big ones.
If you look at the farm space, obviously fire being about 30, 30 to 40% of the claims that come through and, and, uh, wind/severe weather is another 44%, 45%.
So you look at in farm space, fire and weather account for about 75% of those property claims.
On the ag side area, the commercial agribusiness side, it's a little lower than that, but you're talking probably 50 to 60% are attributed to weather and fire.
And, uh, when you start looking at the, the cost of that stuff on the farm side, on average it's about $57,000 that, uh, you know, just to put something back up, and that doesn't include a lot of times the downtime and just, uh, you know, the inconvenience because a lot of times these things don't happen, you know, when you're not busy.
They happen when you're busy, right? When you're out there, you know, in, in production.
And on the commercial ag side, it's, it's upwards of 275,000 for a claim from a fire perspective.
So when we think about the common risks, of course, we, we start with just their operations, right? What are their operations? What are they doing? Uh, what type of equipment are they using? Are they making sure that the equipment is maintained in a proper manner and things like that? You start looking at electrical systems.
I think, uh, you know, we've always known over, over time electrical systems are the cause of a lot of fires.
Um, you know, whether that's the, the older wiring, whether that's temporary wiring, whether that's power strips, whether that's corroded wiring, whether that's weather exposed wiring, you know, things like that.
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