Farm Owners Insurance 2021: Take Note of These Important Coverages

​Farm owner’s insurance is a comprehensive policy designed to protect your farming assets. It includes coverage for your machinery, buildings, livestock, and other farm equipment for your operation. In this article, learn how a farm owner’s policy can secure your assets by taking the right coverages. 

Property
This type of farm owner’s policy is designed to cover damage to your multiple properties and assets that include household property, buildings, dwellings, or farm property. It can also include other structures such as fences, pens, corrals, feed racks, silos, and other building materials. Moreover, it can also provide particular coverage limits depending on your unique and valuable items.

Liability
Liability coverage will ensure coverage for the medical, death, or legal expenses of a bodily injury or property damage if you’re held liable for the incident. It includes peril for accidents that occurred within your premises and aimed to protect you for your legal defense. A bodily injury or property damage coverage may consist of the following depending on the agreement with your insurer:

• Personal liability
• Personal injury
• Advertising injury
• Medical payment for the injured

Additional Living Expenses
Even in the most careful effort, your property may be unlivable at some point in case of a fire, natural disaster, and other covered perils. If that’s the case, additional living expenses will kick in to help you reimburse for the fees you’ll be dealing with as you temporarily live away from home. The coverage is proven helpful for those who earn through rental income as you benefit from claiming reimbursement.

Medical Payments
This farm owner’s policy type would allow you to pay for reasonable medical expenses if someone sustained injury inside your property. Furthermore, medical payment coverage can also include activities that result in a mishap that involves workers and employees. Note that this coverage will not work for injuries sustained by you or family members who live on the property.

Emergency Removal of Property
In case something happens to your covered property, such as damage to equipment, while removal due to emergency, emergency removal of a property will cover the expenses.

Conclusion
In getting farm owner’s insurance, you get a wide array of coverage options to sustain your farm operations. We hope that the article gave you essential and necessary details to learn about its different coverages with these considerations. If you’re planning to get a farm owner’s policy, it’s best to consult an insurance agent to evaluate what you need for your farm program.

At Insurance Agency Network, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (425) 681-0996 or Click Here to request a free quote.