Hobby Farm Insurance

Your hobby farm isn't just your side business; it's also your home. That's why it's critical to equip it with the proper protection. But you may be wondering how to find the right coverage or how much you can expect to pay for hobby farm insurance.

An independent insurance agent in your area can help you find the right coverage at a great rate. They'll help you get matched to the ideal policy. But first, here's an overview of hobby farm insurance, who needs it, and how much it costs.

What Is Hobby Farm Insurance?

Simply put, a hobby farm insurance policy is just a special type of farm insurance designed to meet the needs of hobby farmers. While some people choose to start hobby farms purely for their own families' benefit, others also sell produce, meat, or other goods to the public. In such cases, a hobby farm is also a type of small business that needs special protection against liability risks and more.

Who Needs Hobby Farm Insurance?

It can be easy to answer this question when you consider one key factor. If your hobby farm earns any sort of profit, then it can qualify as a small business that needs insurance. However, if your hobby farm is used only for pleasure or to provide goods for your own family, you might not need an insurance policy.

It's also helpful to consider if your hobby farm has special tools, equipment, operations, livestock, etc., that aren't covered by your homeowners insurance policy. If your hobby farm is especially small, your home insurance may already provide the coverage you need for a garden and associated tools. But if you have livestock, large farm equipment, special farm buildings, etc., or you allow members of the public on your premises or sell goods to others, you'll want to talk to an independent insurance agent about a hobby farm insurance policy.

What Does Hobby Farm Insurance Cover?

Hobby farm insurance is designed to cover multiple facets of your hobby farm. These can include:

Farmhouses: Your hobby farm policy covers your personal items, like your farmhouse, and your side business items, like your tractor or livestock.
Livestock: Your livestock are covered for injury or death, if, for example, your goats got attacked by a coyote or got cut by a barbed wire fence.
Crops: Your crops are covered against bad weather and, in some cases, damage due to pests.
Equipment and machinery: You can add coverage for your tractors and farm equipment if you make sure to list them on your policy.
Barns and other structures: Your barns and other structures are covered against many different threats, including vandalism and fire damage.

An independent insurance agent can help you build the right hobby farm insurance policy for the job.

How Much Does Hobby Farm Insurance Cost?

Many hobby farmers pay between $50 and $100 per month, on average, for hobby farm insurance. However, every hobby farm has different operations, etc., which determine the amount of coverage necessary. There are some risk factors that may impact your policy's premiums to be aware of, though, such as:

Claims history: If you've filed any claims within the past few years, your premiums may be higher as a result.
Inventory: The more inventory your hobby farm has, and the more valuable or harder to replace it is, the more expensive your premiums may be.
Equipment and machinery: Similar to inventory, the more equipment and machinery your hobby farm requires, and the more expensive it would be to repair or replace, the higher your premiums may be.
Farmhouse: Larger, more valuable farmhouses may cost more to insure than others.
Pole barns and other structures: The more additional farm structures on your property, the higher the cost of your insurance may be.

Any of these factors may determine your hobby farm insurance pricing. Keep the specifics of your hobby farm in mind when working with an independent insurance agent to shop and compare policies and quotes.

Additional Hobby Farm Insurance Coverages Worth Considering

You may want additional coverage for your hobby farm. Consider the following options when working together with your agent to build a policy:

Windmill coverage
Silo coverage
Bee coverage

Business insurance coverages to consider:

Business interruption coverage: This protects you if there’s a business interruption by replacing lost income and providing continued coverage of operating expenses.
Commercial vehicle coverage: This protects your big rigs, transport trucks, and trailers against liability risks, accidents, and more.
Commercial general liability insurance: This protects you against third-party claims of bodily injury or personal property damage caused by your hobby farm.
Commercial umbrella coverage: This extends the coverage limits of liability claims beyond your standard hobby farm policy's limits. If you have a lot of visitors on your farm or your products end up at a farmers' market, it may be wise to increase your liability coverage with an umbrella policy.

An independent insurance agent can help you get set up with all the small business insurance coverage and other types of protection your hobby farm may require.

An Independent Insurance Agent Can Help You Get Hobby Farm Insurance

Independent insurance agents have access to multiple insurance companies, ultimately finding you the best coverage, accessibility, and competitive pricing while working for you. As your hobby farm grows and your needs change, they'll be there to help you adjust your coverage to make sure you're properly protected without overpaying. Your agent can also file claims for you as necessary.

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