Understanding Farm Insurance Coverage Options

Farms form the backbone of the food supply chain for American homes and families. However, as essential as these businesses may be, they can be risky and perilous. The agricultural sector consistently ranks as one of the most dangerous among U.S. employers, and farm owners must manage many prominent risks and exposures, including working with animals, heavy machinery and sharp tools. Furthermore, even slight delays or untimely incidents can derail a farm’s finances. With these stakes in mind, securing adequate insurance must be a top priority.

What Is Farm Insurance?

Farm insurance is a specialized type of commercial insurance that may include many industry-specific coverage options and features. Given the varied nature of farm operations, your own coverage needs are likely unique. That’s why enlisting the assistance of a qualified insurance professional, such as those at MANN & GRAY Insurance Associates, is advisable. By doing so, your farm can accurately assess and adequately address its coverage needs, assembling an ideal package capable of securing your financial interests.

What Does Farm Insurance Cover?

While the ideal makeup of your farm insurance portfolio is determined by unique characteristics, including coverage needs, risk tolerance and operational details, several types of policies may be advisable. When putting together your risk management and loss control measures, consider looking into the following types of insurance:

• Farm structures insurance—This critical component of an insurance package can help pay for repair or rebuild costs involving your buildings on your farm, including barns, silos and sheds.
• Farm residence insurance—If your property includes a farmhouse or other residence, this feature may function similarly to homeowners insurance by covering its structural elements and contents.
• Tools and equipment insurance—This coverage can financially protect machinery and other devices used on your farm.
• General liability insurance—This insurance type may assist with third-party losses if your farm is at fault for incidents, such as bodily injuries and property damage.
• Workers’ compensation insurance—Required by law in many cases, this type of policy can ensure farm workers have access to funds and resources needed to recover from work-related injuries and illnesses.
• Livestock insurance—If your farm raises animals, this type of insurance can offset losses from various incidents, including fires, floods, diseases and accidents.
• Crop insurance—This aspect of farm coverage can assist with losses involving your crops, including if they are destroyed, or those arising from low-yield harvests or decreased market prices.
• Commercial auto insurance—This coverage can mitigate out-of-pocket losses and expenses from incidents involving your farm’s vehicles.
• Product liability insurance—If a customer accuses your farm of providing goods or products that were spoiled, contaminated or otherwise inadequate, this coverage can render financial aid.

How to Get Farm Insurance Near Me

At MANN & GRAY Insurance Associates, we’ve proudly served farms and families in the Fruitland area and throughout Maryland, Delaware, and Virginia since 1979. Contact us today to learn more about insurance.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.