Farm Insurance in Alberta

Agriculture is big business in Alberta. Thomson Schindle Green Insurance & Financial Services Ltd is proud to offer the farm and ranch industry specialized products with the broadest coverage at the most competitive rates that simplifies the purchasing of insurance.

According to Alberta Agriculture and Forestry there are several different definitions of a farm depending on who the owner(s) will be interacting with: To be considered a farm for the Alberta Farm Fuel benefit the farm business must have $10,000 or more of gross annual farm production; For the municipality they will need to have the property in agricultural production for it to be taxed at the farm property tax rate; For income tax purposes the Canada Revenue Agency you are a farmer if you claim income from farming activity, as example.

When it comes to insuring your farm, the consideration should be equally as broad. In Alberta, many family farms, ranches, dairies, and other small farm businesses make up a vibrant and significant part of the economy. Significant loss of equipment, structures, crops or livestock can devastate the business and end generations of investment.

Agriculture has many unique aspects, but the brokers at Thomson Schindle Green Insurance & Financial Services Ltd thoroughly understand the business and can guide you to appropriate coverage. Here are some items to consider.

By far, the biggest mistake made by farm owners is failing to identify all operations that will take place on the farm or planning in advance for operations – crops, livestock, employees, equipment, and sales to public or wholesalers. Then there needs to be a consideration of who access the property – workers, visitors, children, and other family. There are vehicles, how equipment is used, leased or owned, and land and building uses to consider. You need to understand your liability and manage the risk on your farm.

Only by identifying all operations can the farm be properly insured. Endorsements and riders for certain operations are very affordable and provide excellent coverage for the risk. In addition to the basic farm policy, other types of insurance may be necessary or considered.

  • If you have employees other than family members, you will need workers’ compensation insurance.
  • Many farms now offer tours, petting zoos, seasonal events or allow the public to pick their own fruit or vegetables that may require a separate business policy.
  • Crop and livestock insurance protects the farmer from a loss from a seasonal disaster.
  • Health, life, and disability insurance will help maintain quality employees and provide family health coverage.

Contact our Alberta Insurance Brokers

Thomson Schindle Green Insurance & Financial Services Ltd is here to answer important planning questions for your farm and ranch insurance solutions in order to ease your mind.

Contact our team to get started, at 1-800-830-9423 for more information or visit one of our offices brokers in Calgary, Medicine Hat, Brooks and Bassano.