Farm Insurance

While farms need the standard types of insurance policies that other businesses need, such as property insurance and general liability coverage, they also need insurance that is specifically related to the business they run.

Crop Insurance

Some farms make all or most of their profits through the crops that they grow. When a disaster, such as a tornado, wildfire or flood strikes and the crops they depend on are devastated, crop insurance can reimburse them for the losses they face. Before buying crop insurance, it's vital that farmers submit an accurate representation of the planted acreage they have per unit. Should they underreport, they may not be reimbursed for all losses they could realistically experience.

Livestock Insurance

Livestock insurance is a multifaceted type of coverage with several different policy options. For example, farm owners can buy coverage for specific activities such as their livestock's transit or for auction market coverage; they may buy coverage for specific animals such as poultry coverage or pasture and dairy cattle coverage; or they may buy mortality insurance for animals with an especially high value to the farm such as a stud.

Farm Equipment Insurance

It takes a lot of specialized equipment to run a farm. From tractors to irrigation equipment, trailers to combines, these complicated expensive machines are fundamental to a farm’s ability to operate properly, efficiently and successfully. Equipment insurance for the vehicles and machines on the farm will allow for reimbursement for certain losses and damages and can help keep you operational.

Workers Compensation Insurance

Farms that employ people should also look at workers compensation coverage. Without this protection, they will be responsible for paying the medical expenses and lost wages of employees who are injured at work.

Common Farm Insurance Questions:

What Is Farm Insurance? 
Farm insurance consists of various types of policies that may cover your operations. It may also contain personal coverages because farmers often live on the property. Your agent can help you secure the proper insurance for your situation. Available coverages include, but are not limited to: 

What Are the Benefits of Farm Insurance? 
Farm insurance can provide financial coverage in the event of a loss. This can reduce your out-of-pocket burden and the impact the event has on your operations. Having the right insurance in place can also give you peace of mind in knowing that you are covered. The agents at Cole Hixon Insurance Inc. can help you secure the policy that is best for you. Contact us today to get started.