Operating a farm is not just a job, it’s a lifestyle. It’s a job and lifestyle in which natural disasters, crop failure and sick livestock can be a serious threat to your success and livelihood. The key to being a successful farming operation is to identify risks and plan for any worst case scenarios with a strategic and ample insurance coverage.
Do you have enough property and liability insurance if your barn roof collapses? What about disability insurance for workers who might get injured while fixing a tractor?
When you have the right farm insurance, you can focus on your farm knowing these will be taken care of if necessary.
Here are 4 types of farmers insurance to consider:
- Dwelling or home protections coverage covers your home in the event of major disasters, such as windstorms, hail and fires, plus accidents, theft or vandalism to your home.
- Farm liability protection protects you from losing your farm due to any liability issues, and covers bodily injury to another person, medical payments associated with their injury and damage to their property. It also provides for legal defense and payment of claims for which you are legally responsible.
- Barn insurance and other outbuilding coverage farms insure outbuildings including barns, sheds, garages and other structures that store your equipment or livestock.
- Farm equipment coverage covers your farm equipment, supplies and other machinery. This includes items like combines, irrigation systems and feed.You can cover the whole of the equipment under a blanket policy at a certain dollar limit or list the separate high cost items you want to cover on a scheduled policy.
Start Protecting Your Farm Today
As you can see, the proper farm insurance coverage is really just a plan to cover any risk.
That’s why it is a good idea to work with an insurance agent who can help you find the policies that are perfect for your farming business. Buying the right insurance is an investment into your business and can make a huge difference in your financial stability if something were to happen to your home, farming equipment or to an employee.