INSURANCE AGENCY NETWORK Blog
Some people are cultivating crops and raising livestock on their patch of land. Whether you are growing plants as an occupation or a hobby, it is essential to consider protecting your agricultural property. It is necessary to have coverage for risks associated with running a farm.
It is good to know that there is a policy that understands the needs of farmers. Farmowners Insurance is designed to provide financial coverage for farmers from various risks that can shut down a farming operation. It can help safeguard your livelihood source under challenging times like the pandemic for commercial farmers.
What Is Farmowners Insurance?
Farmowners insurance contains a broad range of coverages that are suited for the agricultural sector. The insurance protects many aspects of a farming business, such as buildings, farm machinery, equipment, produce, and livestock.
It can cover the damages or financial losses of machinery and equipment due to unforeseen events covered in the policy. The policy can also cover cotton pickers, tractors, field equipment, combines, planters, and other machinery. Most farm owner’s insurance policies offer protection for farm animals. Any mortality or injury to your livestock due to a covered risk is insured under the policy.
Things You Should know About Farmowners Insurance
There is no standard coverage for the farm owner’s Insurance. It is a bundle of different policies that protects a wide range of farming risks. Every farming operation is distinct; hence, you tailor fit your policy to your farming needs.
Special coverage is needed to safeguard your livestock. The types of farm animals you have might require you to get special coverage for them. If you have high-valued farm animals, you might consider having individual coverage. You can also choose blanket coverage, which insures all your livestock, farm equipment, and structures in a single amount.
If you are doing commercial farming, you should have the farm owner’s insurance coverage. Most of the time, commercial agriculture is a significant investment, so you need to protect your farm from different perils. You can customize your policy's content, depending on the most critical aspect of your farming operation. However, it is advisable to include liability and property coverages in your policy.
Commercial farming is not exempted from risks and liabilities that might shut down your agricultural business. It is better to safeguard your farm, especially if it is your primary source of livelihood. You can talk to a local insurance professional to assess the necessary coverages for your farm.
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) 681-0996. You can also request a free quote by CLICKING HERE.