The agriculture, forestry, fishing and hunting industry is one of the most prolific in the United States. However, it is a business that is largely dependent on ideal weather conditions. With the severe weather this country has seen over the past few years, many businesses in this industry suffered losses in production. Fortunately, when protected by a commercial insurance policy specifically designed for operations within the agriculture, forestry, fishing and hunting industry, many business owners were able to weather the storm.
What Businesses Fall within the Agriculture, Forestry, Fishing and Hunting Sector?
There are currently 531,731 U.S. businesses categorized within the National American Industry Classification System's (NAICS) Agriculture, Forestry, Fishing and Hunting Sector. The NAICS is used to categorize businesses for the purpose of data collection, analysis and reporting. The NAICS includes the following business types under this industry umbrella:
- Crop Farming Businesses, including:
- Crop farming, such as soybeans, grains, fruits, vegetables and tobacco
- Orchard farming, for the production of fruits and nuts
- Mushroom production
- Soil preparation, planting and cultivating
- Crop harvesting
- Post-harvest crop activities
- Cotton ginning
- Floriculture production
- Animal Farming Businesses, including
- Beef cattle ranching and farming
- Dairy cattle and milk production
- Hog and pig farming
- Chicken egg production
- Chicken, turkey and other poultry production for meat products
- Sheep and goat farming
- Fur-bearing animal and rabbit production
- Horses and other equine production
- Cattle feedlots
- Other Farming-Related Business, including:
- Farm labor contractors and crew leaders
- Farm management services
- Support activities for animal production
- Fishing Businesses, including
- Finfish, shellfish and other aquaculture farming and fishing
- Finfish hatcheries
- Forestry Businesses, including:
- Timber tract operations
- Nursery and tree production
- Forest nurseries and gathering of forest products
- Support activities for forestry
- Hunting and Trapping Businesses
Insurance for the Agriculture, Forestry, Fishing and Hunting Industry is Vital
Like any industry, this one is not without its hazards. If a drought dries up your crops or a tornado kills your supply of livestock, for example, you can find yourself facing financial hardships that could potentially ruin your business. Fortunately, there are business insurance plans geared specifically toward those who operate within the agriculture, forestry, fishing and hunting sector.
These plans will include a number of different coverage options, many of which you would not find with a standard business insurance plan. Of course, even within this sector, coverage needs can vary greatly from one business to another, so it is important to build a policy that is suited specifically for your operation.
Some examples of coverage options you might want to consider are:
- Commercial vehicle and ATV insurance: There are a number of different vehicles you may use regularly with your business. These can range from ATVs to quickly get around large amounts of unpaved acreage, to trucks used to transport harvested goods or livestock. You will want to ensure that they are properly insured.
- Buildings and building contents insurance: This can be tailored to cover everything from silos to greenhouses to poultry pens. It also covers permanent equipment kept inside your business structures.
- Farm personal property insurance: This is designed to cover livestock, crops, farm machinery, supplies and tools in the event that they are lost or damaged by a covered event.
Let an Independent Insurance Agent Help You Build the Right Business Policy
For help building a suitable business insurance policy for your agriculture, forestry, fishing or hunting endeavor, contact an independent insurance agent in the Trusted Choice® network. These agents can answer your insurance-related questions and help you understand your many coverage options. They can also work with a number of different insurance providers to help you build a business policy that is well-suited to your specific company.
Contact a Trusted Choice agent near you to learn more and you can start comparing quotes for insurance for the agriculture, forestry, fishing and hunting industry today.