What Insurance Do You Need When Starting a Farm?
Agriculture provides a huge source of opportunity to farmers and their employees. If you plan on starting an enterprise, you will need the right resources and a lot of hard work. One important resource is insurance. Insurance can help protect your investment in case of an accident or natural disaster, but not all farm insurance policies are created equal. You will need a policy tailored specifically for your needs.
What is Farm Insurance?
Farm insurance
is a type of business insurance geared to specifically cover the unique risks faced by farms and everyone involved with them from owners to farmhands to visitors.
How you tailor this insurance should depend on the type of farm you have and what your specialty is.
Important coverage options often available under home insurance include:
Farm Liability
Farm liability is a type of general liability insurance that covers claims against your farm concerning bodily injury, property damage and personal or advertising injury. If a visitor is injured on your farm by a piece of equipment or an animal, liability insurance can help pay for the medical bills and protect you from a related lawsuit.
Farm Dwelling Insurance
Farm dwelling insurance protects buildings you live in that may be on the farm’s property along with attached structures, such as a farmhouse and rental properties. This insurance covers you against loss or damage to your livable structures caused by fire, wind, hail, lightning, smoke, theft, vandalism and more. 
Crop Insurance
Does your farm
rely heavily on crops for income during certain months out of the year? Damage to or loss of these crops and cause significant financial damage to your farm’s income. Crop insurance offers compensation for crops that are lost or damaged due to floods, hail, drought and other extreme weather.
Farm Equipment Insurance
Farms operate primarily with the use of expensive equipment such as tractors and ploughs. Farm equipment insurance can step in and provide compensation for repairs or replacement if your expensive farm equipment stops working due to sudden breakdowns, fire, bad weather and more.
Livestock Insurance
If you have livestock on your farm, you will need to insure them, as well. Livestock such as pigs, cows and buffalo can be incredibly expensive. If your livestock passes away due to a collision with a vehicle or other accident, livestock insurance can provide compensation.
Farm Auto Insurance
The majority of farms use trucks and other vehicles to transport equipment and products. Farm auto insurance is a form of commercial auto insurance that provides coverage such as comprehensive, collision, liability, medical payments and uninsured/underinsured motorist.
Be sure to speak with an insurance agent about finding the right farm insurance
at the right price to protect your new farm.
OTHER POSTS
Renters insurance isn’t always something people seek out. It seems like an expense you may not want to have. However, there are some key benefits to having this type of insurance in place. The most obvious reason is that your landlord’s insurance isn’t going to cover your own property in the event of a fire […]
One never wishes for a car accident, but even the best driver can get distracted or find themselves unable to avoid another person’s poor decision. Note some of the most common accident scenarios so if you are ever in a similar situation, you can remind yourself to stay alert and watch out for other drivers. […]
There is nothing more heart-wrenching than seeing the resilience of young souls battling against the cruel grip of cancer. Even in the midst of this heartache, there's a beacon of light. In the face of childhood cancer, hope finds a home in the remarkable efforts of CancerFree Kids. At Wilber-Price Insurance, we're deeply inspired by their incredible effort as they strive to eradicate this devastating disease. Through groundbreaking research, compassionate support, and resources, they offer hope to the smallest fighters and their families, reminding us of the power of collective compassion and determination. We invite you to stand with us and support CancerFree Kids. For every friend or family member you refer to us for an insurance quote, we will donate $10 in your name to this extraordinary organization. Your referral not only secures the future for your loved ones but also contributes to CancerFree Kids' tireless mission, helping create a world where every child can dream, play, and grow without the shadow of cancer. Let's be the light that guides these young souls toward a brighter, cancer-free tomorrow.
Your family has finally arrived at the time in your lives where you have a teenage driver in the home. Your teen has passed the tests, logged their practice hours and is now ready to drive solo. While you may be ready to panic at the thought, comprehensive auto insurance coverage can set your mind […]
Homeownership comes with various responsibilities, and one of the most critical aspects is protecting your investment through insurance. Home insurance is designed to provide financial security in case of unforeseen events, but understanding the extent of your coverage is crucial. One common issue that homeowners may encounter is sewage backup. What Is Sewage Backup? Before […]
You might have heard that the best way to insure your household’s vehicles is to buy a multi-vehicle policy. This allows you the convenience of being able to insure every vehicle you own within a single plan, which does have its cost benefits. However, is this really the best choice for you? Some vehicles are […]
With rapid medical advancements, people are living longer than ever before—often well into their 80s or 90s. However, as people age, some will need more care than others. About 40 percent of retired adults are likely to spend time in a nursing home, or make use of another form of assisted living. It’s wonderful that […]
Buying a home for the first time is a very exciting step, but it can also be a confusing process. We’ve put together some information to help you plan each piece of the home-buying experience. To-Do List before Home Hunting Plan your budget: When figuring out how much you can feasibly spend on a house, […]
Perhaps you’ve put off the purchase of life insurance for some time now. You’re young and you don’t plan to be at risk of death anytime soon. Many people make the same decision, but that does not mean it’s the smartest decision to make. It is essentially risky to live without life insurance if you […]
According to the CDC, about 82% of children and about 61% of adults go to the dentist each year. Why the difference? Is it because adults don’t have problems with their teeth? Probably not. Maybe they are just busy or don’t like going to the dentist, or maybe they are afraid of the costs. If […]