The life of a rancher is not an easy one. The days are long, the nights are short. And it’s gotta be hard remembering all the names of every one of your animals, right? You have a lot on your plate when you’re trying to put food on the plates of others.
Our independent insurance agents search far and wide, rounding up the right ranch insurance policy options for you. And if that makes you want to name us honorary ranch hands, we’d be cool with that.
What Is Ranch Insurance?
Ranch insurance is a lot like farm insurance, because ranches are a lot like farms. The difference lies in what you’re growing. A farm specializes in crops, where a ranch focuses on livestock. But the goal of both is the same, to protect your property, family and livelihood from unexpected damage and loss.
What Does Ranch Insurance Cover?
Ranches are a unique situation in terms of coverage. Since a ranch most often includes both your home AND your business, it’ll need to be covered that way. Ranch insurance policies typically begin with the following:
- Dwelling coverage: Protects your home in the event of catastrophic weather-related damage from tornadoes and wildfires, as well as vandalism and theft.
- Liability coverage: Protects you and your ranch from big ol’ liability claims like bodily injury, damage to another’s property, medical expenses and nasty legal defense bills.
Then, it’s bonus time. Depending on your unique situation and your goals for the ranch, a few additional coverages worth considering are:
- Barn/Outbuilding coverage: Protects the buildings on your property that serve a purpose for your home or business. This includes structures like warehouses, hen houses and even outhouses.
- Livestock coverage: Protects your livestock in the event of catastrophic death caused by things like tornadoes and wildfires. You can even add animal mortality insurance to protect yourself from animal death due to accident, injury or disease.
- Equipment coverage: Protects your tractors, ventilation units and more, helping to replace the damaged equipment and minimize the burden of loss.
And to cover the business side of ranching, you may want to consider:
- 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 illness, 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 the big rigs, transport trucks and trailers that you have to run your business.
- Professional liability coverage: Protects you if you make any sort of operational oopsies that causes financial loss to others.
Why Should I Buy Ranch Insurance?
You’re a rancher because you love it. And it’s in your blood. While the rewards can be great, the risks are even greater. And when your ranch is your home, your business AND your family’s income, there’s an awful lot at stake.
Sit down with one of our independent insurance agents. They’d love to talk to you about your ranch and how to properly protect it. Once they’ve got a good, clear picture of your situation, they’ll be able to show you just how important the right coverage is for your ranch.
How Much Does Ranch Insurance Cost?
Well, what kind of ranch are we talking about here? A couple of grazing longhorns or an army of bison on thousands of acres? Your policy premiums depend entirely on the size of the ranch, what kind of home you need insured, barns, your inventory of livestock, and a lot more.
An agent can drum up a nice little estimate that will give you a more accurate forecast based on your ranch insurance needs. To get a quote, you’ll need info like:
- The size use, and location of your property
- Current revenue
- Equipment Inventory
- Animal inventory
- Home size, location and info on the structure
- Proximity to a 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 Ranch Insurance Coverage Needs to Change?
Your ranch insurance needs will no doubt change over the years, just as markets and technology will change any business. Maybe you'll decide to open up your ranch and offer special tours for city slickers to come and get their hands dirty.
Well, you’ll need to consider increasing your liability coverage to protect your ranch if someone gets injured. Stay in close contact with your insurance agent and maybe pencil them in on your calendar for a call every year or so. They’ll love hearing from you.
Comparing Ranch Insurance Policies
Our agents will review your needs and help you evaluate which type of ranch 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.
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, so you understand exactly what you're getting.