Farm Insurance

The Quick and Dirty on: Farm Insurance

(For those who take counting sheep to a whole new level)

Andrew Bowsher | July 19, 2018
Midwest farm with spring corn crop and red barn

You have big dreams to turn that little ol’ hobby farm of yours into a full-blown cash crop. Or maybe you’ve just inherited the keys to an agricultural kingdom. Either way, before you go buttoning up your overalls, there’s a lot of prep work to be done.

Our independent insurance agents know the ins and outs and will dig deep to round up the right farm insurance. They’ll find top policy options to help protect you, your farm and your harvesting dreams.

Insurance for Everyone.

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What is Farm Insurance?

Basically, farm insurance is like a combo platter you’d order at your neighborhood bar and grill. It’s got some of this, some of that and you can always add a bit more for an additional charge. 

Since farms typically include your family’s home, farm insurance policies were created to protect both your home AND your business. With a whole lotta other exciting add-ons to fill up on, too.

What Does Farm Insurance Cover?

Like snowflakes, no two farms are alike. But no matter what your farm’s got going on, there’s a coverage for it. 

The main forms of coverage in any farm insurance policy are:

  • Dwelling coverage: Protects your home in the event of weather disasters like tornadoes, hail, lightning or fires. It also protects you from vandalism.
  • Farm liability coverage: Protects you from losing your farm in the event of liability claims like bodily injury to another person, damage to another’s property, medical expenses and legal defense bills.

From there, your independent insurance agent can help tailor a farm insurance policy to your needs with additional protection like: 

  • Barn/Outbuilding coverage: Protects the buildings on your property that serve a purpose to your home or business. It includes everything from barns to even outhouses.
  • Crop coverage: Protects perhaps the most valuable asset on your farm, besides your family… your crops. So if severe weather ruins your entire season’s work, you’ll be protected.
  • Livestock coverage: Protects your livestock in the event of catastrophic death caused by things like tornadoes and wildfires. All animals can be protected under a blanket policy for one value or scheduled individually. Or as a combo of the two. Example: Your prized state fair hog can be scheduled separately from all the other so-so swine under your blanket coverage.
  • Equipment coverage: Protects all your tractors, harvesters, refrigeration units and such to help minimize the burden of being without them. After all, crops are money.

Then there’s the business side. Unless your farm produces just enough for your family to eat, you’re likely selling for a profit. And as a business owner, you should consider coverages like these:

  • Loss of business income coverage: Protects you if there’s some sort of business interruption, replacing lost income and providing operating expenses to keep you grinding away.
  • Workers compensation coverage: Protects your workers and employees from sickness, injury or worse as the result of a job-related accident. WARNING: Every state has different guidelines and requirements, so talk to your agent about the requirements in your state.
  • Commercial vehicle coverage: Protects your big rigs, transporter trucks and trailers that you have to run your business.
  • Errors and omissions: Protects you if you make any sort of operational oopsies that causes financial loss to others.

Insurance for Everyone.

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Why Should I Buy Farm Insurance?

Simply because you love what you do. And the things you love deserve to be protected. The world changes every single day and whether it’s the driest summer you can remember or an accident, your farm and your future can be ruined in a heartbeat. 

Even if you sell one juicy, red strawberry to someone at a roadside stand and they somehow got sick, your farm could face a massive load of medical and legal bills. Without proper liability coverage, that could put a serious dent in your farming fun.

How Much Does Farm Insurance Cost?

Depends, how much farm ya got? As was mentioned earlier, no two farms are alike. And with a ton of extra endorsements and add-on coverages, it would be impossible to give a number that would even relate to your needs. Talk to one of our insurance agents and once they have the whole picture in front of them, they can get you the quotes you’re looking for.

To get a farm insurance quote, you’ll need to compile info that includes:

  • The size of your property, the use and location
  • Current revenue
  • Inventory—animals, crops, equipment, etc.
  • Home size, location and info on the structure
  • Proximity to fire hydrant

Your agent may require more information based on your coverage needs, but it’s definitely a good starting point to help you show up prepared.

What If My Farm Insurance Coverage Needs to Change?

Your farm coverage will most likely need to change. And often too. Maybe you had a barn-raising in spring. Or maybe you’ve decided to open up your apple orchards to the public. In that case, you’re definitely gonna need some more liability coverage in case anyone gets hurt. 

It’s a good idea to talk to your independent insurance agent every year about what has happened and what you want to happen. They can help make adjustments to your policy to get your coverage right where it needs to be. 

Comparing Farm Insurance Policies

Our agents will review your needs and help you evaluate which type of farm insurance makes the most sense for you. They'll also compare policies and quotes from multiple insurance carriers to make sure you have the right protection in place. For you and your family.

Sweet Benefits of an Independent Insurance Agent 

Insurance policies can be complex and searching through options can be confusing, time consuming and frustrating. An independent agent's role is to simplify the process.

They’ll make sure you get the right coverage that meets your unique needs. Not only that, they’ll break down all the jargon and explain the nitty gritty bits, so you understand exactly what you're getting. Article | Reviewed by Tracy Cotton

Now, who's ready to get their insurance problems solved?