Farm Insurance

Why Purchase Farm Insurance?

Farm insurance covers farmers and ranchers who grow food and raise cattle or other livestock for profit. They are covered for the supplies that they use to grow food and feed their animals. They’re covered for the different types of complex machinery and equipment that they use regularly. Coverage is needed for disasters that could happen on the farm from the loss of crops to severe bodily injuries.

Different Types of Coverage

Farm liability insurance is necessary to protect farmers who employ one or more workers. Farm equipment is extremely dangerous to operate and could result in loss of limb or life. The matter is even worse for young or inexperienced people who work on the farm and don’t understand the dangers. However, some of the most damaging accidents happen on the farm. Paying for one person’s medical bills and lost wages could put a small farmer out of business. Liability insurance covers the costs of lawsuits filed by injured workers or the family members of deceased workers.

Farm property insurance protects your farm properties in a similar way as homeowners insurance. Your farmhouse, barns, horse stables, cow sheds or chicken coops are protected from man-made or natural damages. These buildings are safe from accidents that are caused by reckless employees or absent minded visitors.

Peril farm insurance is necessary on a farm that faces all kinds of risks. Unpredictable weather could flood out the main barn or pour hail down onto the crops. Trespassers could steal supplies or machinery from unlocked sheds. Farm animals could get sick or run away. Peril insurance covers you from massive losses of products, equipment and profits.

Crop insurance is designed for farmers who grow crops and constantly worry about crop failure. It’s not always possible to predict the weather or to stop its destructive effects. If a flood wipes out all of your crops, you need financial compensation that covers the costs. You at least need to buy replacement crops that cover you until the next season. The insurance company sets the premium rate based on the profits that you expect to earn from your crops.