INSURANCE AGENCY NETWORK Blog
Farmowners insurance is a customizable type of insurance that may secure your farms and ranches from damages and losses. This includes properties and liabilities that may occur within farm and ranch operations and personal properties. There are infrastructures, utilities, and situations that are specific to farming and ranching, to which this insurance may benefit you in the following ways:
Farmowners Insurance Coverage
Farm owners' insurance comprises these basic options that may be included in your insurance policy, which you can specify depending on what equipment, properties, livestock, and products your farm has.
The distinct feature of this type of insurance is that it can include both residential and commercial coverage. This insurance coverage may be suited for families living on farms and managing the farm business operations.
Farm Equipment, Machinery, and Household Properties
Farm properties that may be insured include farm equipment and machinery such as tractors, plows, harvesters, seeders, and other farm equipment that may be damaged or broken. This also includes household property, just in case you live on the farm. Barns, stables, ponds, pens, and other farm structures should also be covered.
Physical Injuries and Lawsuits
Farmers and other workers injured during their working hours or farming operations should be insured. They may be compensated for the work-related injuries and pay for the medical expenses. Lawsuits from filed complaints against your farm business may also arise, to which the insurance should be able to cover the legal defense fees.
Farm animals may encounter sickness and death caused by flu or other infections. They may also be affected by storms, earthquakes, floods, fire accidents, attacks from wild animals, and may be stolen. The insurance should cover the cost either in replacing the killed farm animals or in recovering the injured ones that come along with medical expenses.
Farm products like feeders, seeds, grains, fertilizers, pesticides, and other products that can be stored, may be insured. Products that are planted or growing are not going to be covered. They may be covered and be required to have a separate commercial insurance policy once they reach beyond the income limit of the policy.
Since farm insurance may offer a wide range of options, explicitly specifying the lists included in your insurance policy would lessen the problems to encounter later.
Fences may not be insured. This may be added as an extension policy. If your farm is prone to storms, getting the additional insurance may be best suited. Consider the coverages you would prioritize.
At Insurance Agency Network, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (425) 448-9190. You can also request a free quote by CLICKING HERE. Any coverage discussed is not guaranteed. Please contact us today to go over your policy to ensure your needs are met! We are here and happy to help.