As a farmer, you face many risks each day. There is always the potential for something to go wrong, whether it’s an unexpected storm or an animal attack. That’s why farm insurance is so important – it provides you with protection against all sorts of risks, both big and small. In this article, we will discuss the many benefits that farm insurance provides to farmers. So if you are thinking about buying farm insurance, or if you just want to learn more about it, keep reading!
Covers Your Livestock
If you raise livestock, then you know that they are vulnerable to many risks. Disease, lightning, fire, and accidental shootings can all lead to financial losses for a farm. In the event that something does happen to your livestock, farm insurance can help you to cover the cost of replacement or vet bills.
Protects Your Farm Equipment
Your farm equipment is essential to your livelihood, and if something were to happen to it, it could be very costly to replace. Farm insurance can help you cover the cost of repairs or replacement if your farm equipment is ever damaged, destroyed or if it suddenly and accidentally breaks. It also covers the peril of artificial power surges.
Produce Coverage
If you have a produce farm, you want to make sure you are covered if something ever happens to your harvested grain, hay, fertilizer and seed. With farm insurance, you can rest assured knowing that your product is protected against loss or damage.
Provides Financial Assistance After a Disaster
No matter how well you plan, disasters can still happen. If your farm is hit by a natural disaster, farm insurance can provide you with the financial assistance you need to get back on your feet. This coverage can help you cover the cost of repairs, replacement equipment, and lost income.
Farm Structures Coverage
One of the most important aspects of farm insurance is coverage for your farm structures. This includes any buildings or structures on your farm, such as your home, barn, garage, shed, and more. Every building that is used for farming needs to be insured under a farm policy.
If any of these structures are damaged or destroyed by a covered event (like a fire or severe weather), farm insurance will help pay to repair or replace them. This coverage can save you thousands of dollars in the event of damage to your farm structures.
Business Interruption
Another important benefit of farm insurance is business interruption. If you are unable to work due to an injury or illness, farm insurance can help replace a portion of your lost income. This coverage can be especially useful if you have employees who rely on your farm for their livelihood. In the event that you are unable to work, farm insurance will help ensure that your employees can still be paid. This type of coverage can be extended for twelve, eighteen or twenty-four months. Farmers with chicken or milk quotas absolutely need business interruption but are not limited to grain handling facilities.
Liability
Farm insurance also provides liability protection. This coverage is for property damage and bodily injury that happens on your premises(owned, rented), products (what you make), operations (while you work), and completed operations (what work you have done). For example, if someone is injured while visiting your farm, farm insurance would cover the medical expenses and any other damages that they incurred. This coverage is essential for any farmer, as it can help protect you from financial ruin in the event of an accident.
Need Farm Insurance? Contact Will Marshall Insurance Brokers Today!
Farm insurance is an essential investment for any farmer. It provides protection against many different risks, both big and small. If you are interested in buying farm insurance, or if you just want to learn more about it, contact Will Marshall Insurance Brokers today! We would be happy to answer any of your questions and help you find the perfect policy for your needs.