Insurance for Irrigation Systems

Modern farmers rely on expensive and technologically advanced equipment to meet their income and production goals. For many farmers, irrigation systems are crucial to the success of the entire operation.

Insuring your farm against common perils and protecting your equipment with appropriate insurance is crucial. Contact Mann & Gray Insurance Associates in Fruitland, Maryland, today to learn more about how to get the right types of insurance for your farm.

Do Farmers Need Special Insurance for Irrigation Systems?

While farm equipment insurance is essential to the overall well-being of a farming operation, it may not cover complex irrigation systems.

Irrigation equipment insurance may provide coverage to help repair or replace damaged irrigation systems to facilitate reduced downtime. Irrigation system insurance covers a number of perils, including:

·        Wind damage

·        Lightning

·        Fire

·        Flood damage

·        Vandalism

·        Collision

What Other Insurance Policies Do Farmers Need?

Each farm has specific insurance needs. After reviewing your situation, your agent may recommend the following insurance policies to help protect your operation:

• Workers’ compensation insurance helps pay medical bills and wage replacement if one of your workers is injured or becomes ill in a work-related incident or accident.

·        Crop insurance reimburses you if your crops are damaged by fire, weather or other hazards.

• Farm livestock insurance provides a settlement if you experience the loss of livestock.

• Tractor insurance provides coverage for your farm vehicles and tractors not covered by your other farm insurance policies.
• Farm dwelling insurance helps pay to repair or replace your home after a covered incident if you live on your farm or ranch.
• Farm structures insurance helps pay to repair or replace your buildings and structures if they are damaged in a covered event.
• Commercial auto insurance provides liability coverage after a covered accident resulting in third-party property injuries or property damage. Your agent may also recommend comprehensive and collision coverage to help protect your property.  

• Farm and ranch liability insurance helps cover your financial liability if someone is injured on your property.
• Umbrella insurance helps pay claims that exceed the liability limits of your other insurance policies.  

When evaluating the options for any type of farm insurance, be sure to discuss the differences between actual cash value (ACV) coverage and replacement cost value (RCV) coverage.

·        ACV insurance pays the depreciated cost of repairing or replacing your damaged property.

·        RCV insurance pays the cost to repair or replace your property without deducting the item’s depreciation.

How To Get Insurance for Your Farm’s Irrigation System

Contact Mann & Gray Insurance Associates today to learn more about insuring your farm’s valuable irrigation system and get a quote.

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.