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Everything You Need To Know About Farm Insurance

Updated: Nov 5

Working your own land is always a pleasure and incredibly peaceful. No matter if you do it as a hobby or if it's your main occupation, you want to ensure that you know a bit about farm insurance. While we won't go through technical jargon, it's important that you understand what farm insurance is and why you need it.

Everything You Need To Know About Farm Insurance

#1: Some Farming Activities Are Covered By Your Standard Homeowners Policy:

If you just like to keep your garden or farm looking great and you enjoy spending your free time doing so, you're not actually looking for a profit. So, you'll b glad to know that your standard homeowners policy includes some farming activities already. Nevertheless, it usually doesn't cover farm outbuildings, farm equipment, among others.

#2: When Farming For A Profit:

In case farming is your main occupation, this means that you're doing it for a profit. So, you need to keep in mind that you may need a different type of policy.

If you just started selling some of your farm products, you want to make sure that you are fully protected. Many people prefer to work with an insurance company with a good reputation like Ellerhorst Russell Insurance Agency.

#3: Get A Farm Owner Policy If Farming Is Your Full-Time Occupation:

If farming is your full-time occupation, you need farm owner’s insurance coverage. Just to give you an overall idea, the most basic farm owner’s policy includes property coverage, liability coverage, and more. However, it is always important to determine what you really need which depends on your farm needs as well.

#4: There Is No Standard Insurance Coverage:

One of the things that many people don't know is that there is no standard insurance coverage. The truth is that farm insurance policies have many different aspects that there just can't be a standard policy.

Simply put, each farm operates differently and when you are looking for farm insurance near me, you should look for one that suits your needs as a farmer.

#5: Look For Limitations On Commercial Structures:

One of the main differences between the coverage of some farming activities of your standard homeowners policy and farm insurance is that the first one usually has some coverage limits on commercial structures.

#6: When You Have Animals On Your Farm:

If you have animals on your farm, you should keep in mind that you need special coverage for livestock. Notice that you have two different options in this case:

Individual Coverage (Scheduled):

  • If you have higher-valued animals and you want to cover them up to a specific dollar amount, this is the best option for you.

Blanket coverage (Unscheduled):

  • With this option, all your farm property will be covered in one lump sum amount. The coverage includes structures, equipment, livestock, among others.

Contact Ellerhorst Russell Insurance Agency LLC To Ensure You Have The Coverage You Need

At Ellerhorst Russell Insurance Agency, you can find the best farm insurance for your needs. Just get in touch and see what we have to offer.

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