Farm Insurance in Alberta
Farmers play an important role in Alberta’s economy and face a number of unique challenges. Beyond the inherent difficulties and hazards that come with working on a farm, producers have to deal with fluctuating crop prices, unpredictable weather patterns and uncertain markets. This is why they need insurers who can truly understand the realities of modern farming.
Thankfully, Thomson Schindle Green Insurance & Financial Services Ltd. has established itself as a top brokerage for securing commercial insurance in Alberta, and serving our province’s farmers is one of the things we do best. Here’s how we can help you.
Made-to-order farm insurance
No two farms are the same, and it takes an experienced broker to help you get the coverage you need. In today’s climate, many producers are diversifying, which means that the risks and liabilities they face have become a lot more complicated. This is why TSG Insurance is an ideal company to turn to when looking for the best insurance for your farm. As an independent brokerage, we’re not tied to a single provider and can offer our clients flexible, tailor-made policies that truly meet their needs.
Home insurance coverage
If your personal dwelling sits within close proximity to your place of work, the risks that affect one will typically affect the other. We can help you secure comprehensive coverage for your dwelling as well as its personal contents.
Barn and building coverage
In addition to providing shelter for animals, farm buildings often house expensive equipment. This is why protecting them is key. However, not every producer has the same coverage needs. Fortunately, by working with TSG Insurance’s knowledgeable brokers, you can be sure to get the coverage required for your buildings and their contents.
Equipment insurance coverage
Making sure your machinery, equipment and tools are insured is crucial to protecting your business. Replacing or repairing even a single piece of broken equipment could lead to substantial expenses. In today’s climate, not every farm operator can afford this. Equipment coverage will ensure that you have enough funds to pay for replacements or repairs without having to eat into your profits or go in debt.
Feed, fertilizer and pesticide coverage
These products are both crucial to your operations and expensive, which is why having them insured is a good idea. Some policies will cover issues like theft, but others may also provide protection for any losses that occur during transport. When getting barn and building coverage, make sure the contents, including these products, are included in the policy.
Farm vehicle coverage
Comprehensive insurance for your farm should include the vehicles you use. If farm vehicles are damaged, workers will struggle to take care of your farm as effectively as you need them to. Knowing that you’re covered in case of an accident or breakdown is imperative.
Mortality and accident coverage for horses, cattle, pigs, sheep and poultry is standard. Coverage for more exotic livestock such as elk, deer and alpaca can also be added. In addition, since many canola and alfalfa producers rely on leaf cutter bees to pollinate their fields, TSG Insurance can help you access livestock coverage policies to protect these flying swarms.
More and more farmers are diversifying their operations to reduce risk and to meet the demands of local markets. Produce can be insured against a variety of hazards, and different policies will cover different crops, although some are typically excluded. Whether you focus on a single crop and want to diversify or are already producing many different crops, there’s a policy for you.
Custom farming coverage
It’s common practice for owners to have someone operate their farm using equipment and resources they pay for in exchange for a fixed fee. However, since this is different from the more traditional leasing model, it requires a special type of insurance policy. Custom farming is a great option for owners who don’t want to or who can’t operate their farm. However, since they still own the property, they need to take steps to limit their liability exposure.
In keeping with the strong historical and family-oriented aspects of farming, many operators hold on to their vintage equipment. Vintage tractors are especially popular, and they come with very different insurance requirements than their modern counterparts. From liability issues to replacement costs and more, problems with your antiques can end up costing you a lot of money, thereby making insurance a must.
Farming is dangerous work and accidents routinely happen. Securing comprehensive liability coverage will protect you from expensive claims made by any workers or visitors who become injured while on your property. It’s also important to keep in mind that if you live on the farm itself, personal liability claims can be made against you and your family for anything that happens on the property.
Many farmers worry about succession issues or what might happen to their farm should they get injured and become unable to work. These are common concerns, and TSG Insurance’s financial planning division can help you lay them to rest.
Find a farm insurance policy that works for you at TSG Insurance
TSG Insurance provides access to flexible and comprehensive insurance to thousands of residents and businesses in Alberta. From small hobby farms to large cattle ranches, rest assured that we can help you find the right policy for your needs. Contact us today or visit one of our offices to learn more.