What you need to know about having the right farm insurance.
Farmers are the back bone of our nation, and with a number of very important assets in their possession, they need the right farm insurance to make sure that they have the protection they need so they can maintain their farm for many more years to come.
Why is farm insurance so important?
Farming is wholly dependent on the weather, and if something goes wrong where there’s not enough rain or the temperature randomly drops, an entire year’s worth of crops can be ruined. This is just one of the major risks that farmers face, and without the right insurance, a disaster could lead to a farm losing everything. Family-owned farms have worked their entire lives for what they have and having the right farm insurance policies help them stay that way.
If you are looking for farm insurance, you’re probably wondering what exactly needs to be protected. On the personal side, you probably have insurance policies for your home, car, and your life.
Your farm is both your business and your personal livelihood, and there are several policies that have been created to keep the important assets on your farm protected all year long. We’ll go through a few of the top farm insurance policies that most should have.
Does My Farm Equipment Need an Insurance Policy?
Your farm equipment is one of the most important parts of your farm, and your ability to get work done, which is why every piece of machinery needs protection. In fact, farm tractor insurance and farm equipment insurance function a lot like an auto insurance policy, and you’ll want to make sure that you have a great policy in place before you take it out in the field.
Like most things farm equipment can also be dangerous. Just like when you get into a car, you want to make sure you’re protected so that in the event something happens to you, your tractor, combine, skid steer loader, chopper or self-propelled hay equipment, a trailer or even someone on one of the machines, that you don’t end up with the responsibility of all the bills and ruin everything you’ve built your entire life.
Depending on the size of your farm, you will want to adjust your farm tractor or equipment insurance to make sure that it fits what you need. The bigger your farm operation is, the more insurance coverage you need. For example, your equipment insurance might be part of your larger farm insurance plan, or if your farm is small enough, it might only be necessary to add on to your homeowner’s insurance policy.
You will also want to think about having liability with your tractor and equipment insurance. You can add a tractor liability or farm equipment liability insurance policy to your farm insurance plan to ensure you have the right coverage.
Is Your Livestock Protected?
From cows and sheep to pigs and chickens, all your livestock on your farm needs to be covered so that your farm does not face financial losses in the event of disease, death, accidents, or livestock getting out of their pens. This is the root of what livestock insurance is for, and it can be added to your larger farm insurance policy.
Livestock insurance usually can cover livestock and poultry, and you can get specific coverage for other groups of animals like cattle, pigs, hogs, and chickens. You will want to make sure you have a policy that matches the number of livestock you have on your farm. For example, if you have an entire herd of cattle, an individual coverage plan for each cow or steer just will not cut it.
Is My House on the Farm Protected in a loss?
If you and your family live directly on your farm, insuring your home is key to making sure your farm is fully protected. Farm home insurance is different than farm liability insurance because it protects the buildings and structure instead of the farm.
Your farm home insurance policy should be part of your overall farm insurance policy if you live on the property since it will protect the contents of your home and other structures that are part of your home. This policy will also protect additional structures that are on your property like outbuildings and the equipment you use to maintain those buildings.
If a natural disaster strikes your farm, it is not just your crops or your livestock that will be affected. You do not want to leave your home out of the equation, especially if you live in an area that is prone to serious weather.
When it comes to farm insurance, you should not leave anything up in the air. You will not be able to tell if the coming year will bring a profitable crop or if a hailstorm will destroy half your fields. With a great farm insurance policy and a great agent who understands your risks and how to properly insure them you will be ready for whatever comes your way and be able to run your farm for many generations to come.
At Bickle Insurance we have a great team of agents who are experienced in the field. That is why we have a special team of agents that know farms and how to insure them because they are farmers themselves. Bickle Farm Solutions is here for you every step of the way and we will come to your farm and walk through each item you to be sure everything you have is covered so you don’t have to ever worry about losing all you have worked hard for.
Call us today for more information to speak with one of our farm insurance agents.