Forward Bank
Whew! Old MacDonald Had Insurance on His Farm
June 7, 2022
From crops to cattle, from tractors to tourists, agricultural businesses vary greatly in their insurance risks and needs. Some coverage types are basic for any farm, while others are more specific to the type of business for which the farm is used.
Following are farm insurance coverage options:
Property insurance
This type of policy is a basic for any farm. It protects your property against lightning, fire, and explosion.
Liability insurance
Because you are running a business, you need liability insurance, no matter what type of farm you own. This provides protection if someone is harmed on your property or if someone’s property is damaged due to your farming operations. It covers medical and legal costs.
Additional or specific liability
These types of coverage depend on your business and may be a good option for you:
Animal shows/fairs
This covers your livestock when it is taken to 4-H shows or fairs.
Building construction liability
This provides coverage for employee injuries for farmers who are adding new structures or repairing old buildings on the property.
Farmers market liability
If a customer is injured at your market or has an allergic reaction to your product, this coverage protects you as a vendor.
Hay rides, sleigh rides, and other activities usually involve risk to patrons.
This insurance covers the tourist-related aspects of your farm.
Crop insurance
Crop insurance comes in two types:
- Crop-hail. This is provided by private insurers and protects against crop value loss due to hail damage.
- Multiple peril. Offering protection against all types of natural disasters, this type of coverage is provided by both the private sector and the federal government. Coverage includes damages due to drought and excessive moisture.
Pollution insurance
Many farming operations include the risk of chemical spills, fuel spills, or other pollution incidents. This policy covers cleanup, damages, and bodily injury related to pollution episodes. This option may be included as part of a general farm liability policy.
Contact your insurance agent to see which policies are the best fit for your farm in order to get the protection you need.
View Farm Insurance at Forward Insurance
Get a Quote from Forward Insurance
The content is developed from sources believed to be providing accurate information. This article is intended for general informational purposes only and should not be construed as legal, financial or medical advice. However, we will not be responsible at any time for any errors or omissions or any damages, howsoever caused, that result from its use. Please consult professional advice and/or legal counsel for specific information regarding your individual situation. Copyright 2022 Ready to Go Newsletters.