When your farm or ranch is both your home and your business, insurance can seem like a complicated topic. In fact, it’s an opportunity to get a single policy that meets all your needs. The key is being certain what you want from a farm insurance policy and making sure your insurer provides it.
The starting point is protecting your property and contents against damage such as fire, theft, flooding and other disasters. Some policies will cover everything, while others will specifically protect either your personal dwelling and possessions, or the equipment and buildings used in your agricultural business. In the latter case, make certain you check the definitions and exclusions.
Also consider insurance for livestock, harvested grains and so on. Ask how the replacement costs are calculated; specifically, whether lost profits are part of the calculations.
As with any business, you’ll also need to look into workers’ compensation for employees, liability insurance for visitors to your premises and specialty coverage for any vehicles you use for work rather than just for personal driving.
To take the next step in protecting your livelihood, contact us today.