What is the outcome if an insured farmer only has partial insurance against their property?

When an insured farmer has only partial insurance coverage against their property, the outcome significantly hinges on the terms outlined in their insurance policy. Under partial insurance, the insured is typically only covered for a portion of the value of the property or risk being insured. If a loss occurs, the compensation provided will likely reflect the proportion of coverage relative to the total value of the property lost or damaged.

The principle of indemnity in insurance dictates that compensation aims to restore the insured to their pre-loss financial position without unjust enrichment. Therefore, since the farmer is insured for only a part of the property's total value, any claim made will be adjusted based on the extent of the coverage. This means that if the total loss exceeds the insured value, they would not receive full compensation for their losses, leading to a reduction in the claim payout.

In this context, the other options do not accurately reflect the insurance principles involved with partial insurance. Full compensation regardless of coverage would contradict the nature of partial insurance. Automatic disqualification from claims is not applicable unless specific policy conditions warrant it. Lastly, while additional premiums could be necessary for increasing coverage limits, they are not directly a consequence of having partial insurance in relation to claims.