Cover your Machinery and Livestock with Farm Insurance
Farm and ranch insurance is a hybrid form of coverage meant to protect you both personally and commercially. Like a standard homeowners policy, farm insurance will cover your home, possessions and personal liability. Beyond that, it also includes coverage for your machinery and livestock (though not for your crops).
What does a farm insurance policy cover?
Farm and ranch insurance also covers personal property directly related to the farming or ranch operation. This portion of the coverage can typically be broken down into three categories: farm machinery and equipment, livestock, and farm products such as seed, silage, animal feed, fertilizers and pesticides. Most farm insurance policies allow policyholders to choose broad coverages over the categories or to schedule individual items (these options work similarly to endorsements and floaters). You choose which is best for you when you speak to your agent and purchase the policy. Whether you choose to broadly cover categories or individually schedule items, we’ve broken down coverages under this portion of a farm insurance policy.
Similar to a standard home insurance policy, farm and ranch insurance also provides liability protection. Liability coverage is not an option and part of every farm insurance policy because of the risks at hand. It covers bodily injury, medical expenses and property damage if necessary. Perhaps just as important, it covers attorney’s fees associated with covered incidents as well.
Even under the most strenuous precautions, accidents can occur. Farmers with years of experience operating machinery can misstep and hurt themselves. Something could startle an animal and cause it to injure a senior handler. Or for example, say an animal manages to escape, wander into a roadway and cause an accident. Even though that incident didn’t occur on your property, you as the animal’s owner would be liable.