Farm Insurance

So maybe you have big dreams of turning that 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 find you the right insurance for your farm. They’ll pull together top policy options to help protect you, your farm, and your harvesting dreams.

What Is Farm Insurance?

Basically, farm insurance is a combination of multiple common liability and property protections pooled into one comprehensive package. It’s got some of this, some of that, and you can always add more to it 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 number of other exciting add-ons, too.

What Does Farm Insurance Cover?

No two farms are alike, so thankfully you have the freedom to tailor your coverage to your needs. And 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 theft.
• Farm liability coverage: Protects you from losing the 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 for your home or business. It includes everything from barns to outhouses and beyond..
• 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 probably selling for a profit. And as a business owner, you should consider coverages like:

• 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 the big rigs, transport trucks, and trailers that you have to run your business.

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 unexpected accident, your farm and your future can be ruined in a heartbeat. 

Even if you sell just one juicy, red strawberry to someone at a roadside stand and they somehow get 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 on how much farm you have. 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 independent insurance agents. 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 like:

• The size of your property and its use and location
• Current revenue
• Inventory—animals, crops, equipment, etc.
• Home size, location and info on the structure
• A list of all your farm structures

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. Maybe you had a barn-raising in spring. Or maybe you’ve expanded your farming operation to new locations. In that case, you’ll probably need to adjust your policy to protect yourself. 

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.