Insurance Blog by Garrett

You have spent countless hours and poured thousands of dollars setting up your farm, but you might still question whether you are doing enough to protect it against life’s unexpected surprises. From natural disasters to animal illnesses, farm insurance can help you protect your investment.

You should consider obtaining a farm insurance policy if any of the following descriptors apply to you:

1. You Want to Protect Your Feed and Livestock

Farm insurance policies can be customized to cover a wide range of livestock, such as:

Pigs
Goats
Emu
Chickens
Horses
Cattle

You can obtain individual coverage on high-value animals (such as show horses), take out a blanket policy on your entire farm, or insure a specific herd. Naturally, the type and level of coverage you select will have a direct impact on premium costs, so you can scale back or ramp up your level of coverage to ensure that the policy fits your needs and your budget.

2. You Want to Protect Your Investment

Farm insurance doesn’t just cover your livestock: It can also ensure structures like barns or equipment such as tractors. In other words, you can take out a policy on just about any piece of equipment or asset related to your day-to-day farm work.

3. You Are a Full-Time Farmer

As is the case with any full-time job, you and your loved ones depend on the revenue you gain from your farm work, but despite your best efforts, plenty of things — natural disasters, inclement weather, or even just a simple run of bad luck — can put that source of income in jeopardy.

Farm insurance can help you make your farm more resilient to the whims of Mother Nature. You can cover equipment damage, livestock losses, and more, and depending on your provider, you may even be able to add supplemental income coverage.

4. You Are Starting a Hobby Farm

Aside from career farmers, hobby farmers serve to benefit from farm insurance as well. While you may not be fully dependent on your farm for income, you have undoubtedly poured time, money, and sweat into making it a reality.

When disaster strikes, a quality farm insurance policy can help you recoup your losses and start fresh. A comprehensive plan can also protect you from liability in the event a guest or passerby is injured by one of your animals.

5. You Need Liability Protection in the Event of an Injury

Liability protection is a must, especially if you engage in any agritourism and therefore allow visitors onto your property. Farm insurance with comprehensive liability protection can help you cover the costs of medical bills and legal fees. When choosing a policy for this particular purpose, ensure that the one you select provides an adequate level of coverage based on the size of your farm and how many guests you typically receive.

Finding the Perfect Policy

There are plenty of great reasons to obtain a farm insurance policy for your property, and it is great for operations of all sizes and specialties, from calf-cow businesses to hobbyists and everyone in between.

That said, not all farm insurance policies are created equal, so when searching for a plan for your farm, make sure to explore all add-on options, including liability and livestock protection, to properly obtain the exact coverage you need.