Farm Insurance
Farm Insurance Quote Forms
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Farm Insurance Information
Farms are a core pillar of the agricultural industry and act as a critical component of the world’s food supply chain. In addition, these businesses may double as residences while providing rewarding experiences and lucrative earnings. However, these many purposes and inherent importance also translate to significant risks and exposures that must be accounted for by versatile loss control measures. Fortunately, the dedicated staff at Cole Hixon Insurance Inc. can help you financially protect your farm and future.
What Is Farm Insurance?
As its name suggests, farm insurance may act as a critical financial safeguard. Like other types of insurance, coverage for your farm is typically maintained by paying regular (e.g., monthly, biannual or annual) premiums. In exchange for these payments, your insurance company agrees to provide financial assistance in response to covered incidents.
What Does Farm Insurance Cover?
Your farm must account for many risks and exposures daily. Potential losses may arise from many incidents and could adversely affect various parts of your farm’s operations. Farm insurance may include coverage for the following:
- Fire
- Lightning
- Hail
- Windstorm
- Theft
- Vandalism
- Liability
- Lost income
Types of Farm Insurance
Farm insurance typically does not refer to a single policy. Rather, adequate coverage for your farm may require combining several types of insurance. Although the exact contents of a farm insurance portfolio may vary, the following are frequently advisable:
- General liability insurance may financially protect your farm from incidents affecting third parties, such as bodily injuries and property damage.
- Commercial property insurance may provide financial assistance following incidents that damage your physical assets, such as structures, equipment, tools and inventory.
- Crop insurance may compensate you for losses involving your crops, including lower-than-average yield and drops in market price.
- Livestock insurance may help pay for the financial consequences of incidents affecting your farm’s animals.
- Workers’ compensation insurance may render financial aid if your farm’s employees are injured on the job or develop work-related illnesses.
- Business interruption insurance may compensate your farm for financial losses and ongoing expenses following a disruption of normal operations.
- Products liability insurance may provide financial assistance if a third party, such as a customer or client, alleges that you provided goods that were spoiled, contaminated or otherwise inadequate.
Your farm should also consider additional insurance needs depending on the specifics of your operations. For example, commercial auto insurance may be necessary if you regularly use motor vehicles for business purposes.
Get the Right Coverage
If you own or operate a farm in the Athens or Watkinsville areas, contact Cole Hixon Insurance Inc. today to learn more about your coverage options or receive a personalized quote.
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