A farm is an area of land used for agricultural purposes. This could be thousands of acres used to grow grain or a few acres where you live with some livestock. Regardless of the type of farm you have, you should consider farm insurance. There are different options for this type of insurance. Each option is designed to work for your type of farm. Here are a few options you should definitely look to add, regardless of your farm type.
While you may think your homeowner's policy will protect you if someone is hurt on your property, it may not cover accidents that could be considered farm-related. This could include someone getting hurt when helping you harvest your grain, or perhaps getting injured when one of your goats escapes their fenced area. Make sure the policy also covers you if the escaped goat goes onto the neighbor's property and causes damage or goes in the road and causes an automobile accident.
Whether you have livestock for your pleasure, for eating, or you make money breeding and selling them, you should have coverage to protect you from an unexpected or accidental death. You may want coverage for each animal individually if they are worth considerable money, or you could get blanket coverage to cover all your animals equally. Of course, you can combine them and have the ones worth a lot insured individually and then blanket coverage for the rest.
If you depend on your crops for income, it can be devastating to lose them all due to flood, drought, or other weather conditions. While this type of coverage can be costly, and may not cover all your losses, it is best to get even a portion of your loss than nothing. Even if you simply sell the extra, you do not use for your home for food at a roadside stand, the loss of that income can cause hardship for the family. Do not forget to discuss coverage should the selling price of your crops drop significantly.
Owning and operating a farm takes a lot of time and money. Do not risk everything you have put into it because you fail to have adequate insurance coverage. An insurance agent can help you determine what type and how much coverage you need so you can enjoy your farm and not have to worry about accidents or Mother Nature causing you to lose it all.
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