What Is Farmowners Insurance?

​Farm insurance, commonly referred to as farm owners insurance, is a unique type of insurance that provides homeowners, commercial property, and commercial liability coverage. Commercial and personal coverages are essential since it is typical for farms to have both residential and commercial characteristics.

What Does Farmowners Insurance Cover?

Property Coverage
Farmowners' insurance covers personal property directly related to the farming or ranch operation. Here are some of the coverage features a farmowners' insurance policy may include but are not limited to:

Family farms or ranches
Farmowners' insurance commonly pertains to family and individually-operated farms, not large retail or corporate farming operations. 

Farm machinery and equipment
This coverage may protect you from financial loss or damage to your machinery and equipment due to covered hazards. Some types of machinery that are covered are:

• Tractors
• Planters
• Field equipment
• Hay rakers and other machinery

Livestock
If livestock got killed, injured, escaped, or damaged someone else's property, most farmowners' insurance policies cover these losses. Some policies might cover attacks on livestock by wild animals, as well as floods and earthquakes.

Farm Products
Farmowners' insurance also covers farm products like fertilizers, pesticides, feed, grain, seed, and other similar items stored on the property. However, feed, grain, or other crops planted and growing inside the property are not covered.

Farm Liability
It covers physical injury, medical fees, and property damage if necessary. Farms are generally wide areas of land. However, properties like these may still sustain damage. If an accident occurred on your property and someone was injured, or if a storm caused damage to your property, farm owners insurance could protect you against the damages and losses.

Conclusion
Most farmers are older, and being insured would give them an advantage in case mishaps happen on their land. You might want to consider getting insured to free yourself from the stress casualties may bring. Having farmowners' insurance may ensure the longevity of your farm business.

Additionally, it has its benefits not only to you but to others that depend on the products a farm can produce.

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. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!