Whether you are a small, family-run operation or a big commercial farmer, insurance coverage is critical to the safety and reliability of your business. Farmers and ranchers have unique insurance needs that often require broader, more flexible coverage options. If you rent, you still need ample coverage for your crops and livestock. Typical insurance lacks the complexity to cover things such as farm equipment, workers and even silos.
What to Look for When Reviewing a Farm Insurance Quote
As you start shopping for farm insurance, the first thing you will look for is quoted prices from local insurers. It is important that you compare those quotes correctly and know just what included and what is not. Some things to consider and check for carefully:
- Dwelling Coverage – If you live on your home, you need to protect that house as well as the belongings inside it from natural disasters, fires, windstorms, hail and other accidental losses.
- Liability Coverage – Do not risk your farm and your livelihood. With the right level of liability coverage, you will have the protection you need from bodily injury, medical costs, property damage, etc. that you are legally responsible for.
- Personal Property Coverage – Your farm will have plenty of personal property, from animals to machinery to feed. All of these contribute to the farm’s success; therefore, they must be protected through your farm insurance policy. This blanket coverage option can protect personal property up to a specific limit.
- Outbuilding Coverage – Most farm insurance policies do not cover outbuildings, which include barns, detached garages, silos and sheds. If these are destroyed, you may find that repairing or replacing them comes from your own pocket. Outbuilding coverage offers protection from the unexpected circumstances that endanger these other structures on your farm.
- Grain Farms – There are special policies out there designed to protect grain farmers. These policies can be tailored to offer protection against crop loss and replacement costs, irrigation system failures, etc.
- Medical Payments – If you have workers on-site contributing to your farm, you need extra coverage such as medical payments to others. This ensures that visitors and workers are adequately covered if an injury does occur.
To explore your options for farm insurance coverage or to receive farm insurance quotes, contact the commercial insurance team at TSG Insurance today. Contact us online to get started or call us toll-free at 800-830-9423.