If you have been looking for a farm and finally found one that you want to buy, there are some things you should do as soon as the sale is finished. One of these things is to ensure that you have the types of insurance that you need before you start your farming operations. Below are four types of insurance to consider to help you get started.
Working on a farm can be dangerous, and you never know when accidents will happen. To protect yourself if someone is injured while working on or visiting your farm, you should purchase liability insurance. This type of insurance protects you and your assets if you are sued. Not having this insurance could cause you to lose your farm or home. For example, someone could slip and fall on your farm, or get injured while running your machinery, such as a tractor.
If your crop is damaged by insects, floods, fire, hail, etc., crop insurance can cover this. There are different crop insurance policies that you can purchase. For example, there is crop insurance that protects your farm against insects, floods, fire, hail, etc. There is a less expensive hail crop insurance that protects your farm only from hail. This is especially beneficial if you live in an area that gets a lot of storms each spring. Another type of policy protects you if prices decline and you have a loss of income.
This type of insurance covers things like your machinery, sheds, and barn that you use for your farm. Even if you have homeowner's insurance, this policy may not cover barns and what is inside the barn if there is damage, such as if there is a flood or a fire that ruins the barn and its contents.
Farm property insurance also covers your farm tools, livestock, grain, farm machinery, and more, as long as you use these things for your farming operations.
Livestock insurance will cover your livestock from things like drowning, accidental shooting, or anything else that would cause animals to die. There is individual livestock insurance that you can purchase for separate animals. For example, you may have one cow but a lot of horses, so you would save money if you only cover the horses.
Contact an insurance agency like Cache Valley Insurance Inc if you have any questions about any of this insurance to ensure that you purchase the policies that you need.Share