Farm and Ranching Insurance

Farming and Ranching are not a “job” it is a way of life. Without these hard working families across the country we would all be naked and hungry. These families are some of the hardest working, most considerate people you will ever meet. But, this lifestyle comes with its own kind of risk and if the proper coverage is not in place that lifestyle can be lost in an instant. Farming and ranching policies work to combine multiple coverages into one unique policy. These coverages include:

Dwelling:

Included within your Farm Insurance policy is coverage for the primary dwelling. This is where the most important people in your life spend time together. While the majority of your day is spent fixing fences, feeding livestock and managing crops, knowing you have a place to go to rest at the end of the day is extremely important. This coverage works similar to a standard home insurance policy.

Farm personal property coverage:

Farm personal property coverage helps protect the things you need to operate as efficiently and effectively as possible. These items include farm machinery and equipment, Livestock, Feed, Grain, tools and supplies. Farm personal property coverage kicks in, in the event of a covered loss. This coverage is activated after a weather related loss, fire or explosion, criminal acts of others, and loss of livestock.

Farm outbuilding coverage:

Your Farm Insurance Policy includes coverage for farm outbuildings and structures. This coverage is separate from your dwelling coverage. These buildings are used to store and protect livestock and equipment such as barns, sheds, stables, cold storage structures, water pumps, and other outdoor equipment used for the operations of the building.

Farm Liability Protection:

Farm liability protection is by far the most important coverage within your Farm Insurance Policy. This coverage is designed to protect your farm and assets against loss and garnishments. This coverage protects you in the event of a covered accident in which you and the farm operation could be found liable for the personal injury or property damage. For an example: A gate is accidently left open and a couple of your prized black angus cattle wander out onto the road during the night. A vehicle strikes one of these cattle causing extensive damage to the vehicle and personal injury to the driver. Your farm liability protection will help protect your farm and assets by paying for the individual’s personal injury and property damage up to the amount of per accident policy limits on the farm insurance policy.

In addition to these coverages you have the option to add additional coverages to your farm insurance policy based on your specific needs. These coverages may include:

Farm equipment breakdown coverage:

Your equipment working properly is critical to your livelihood. If your machines go down it can be really expensive. The profit margins on this year’s crops can go down the drain really quickly. Equipment breakdown covers those perils that are excluded perils in the underlying coverage forms. Under a standard equipment coverage wear and tear are specifically excluded. By adding equipment breakdown coverage you can fill in the gaps between your insurance coverage and your wallet.

Farm income protection:

Farm income protection is an additional coverage that some carriers allow to be endorsed on to your Farm Insurance Policy. This additional coverage will help reimburse you for any expected income that is lost due to a covered loss. This could be a wild fire that destroys your crops, or an issue in which the wrong herbicide or pesticide is being sprayed on a crop and causing a reduced production or burn down of crops. This coverage could be vital to maintaining regular operations in the event of a covered loss. This coverage also works to protect in the event of theft and death of livestock caused by certain perils. A lot of times the death of the cattle may be limited to known causes of death such as wildfire, lightning strikes and flooding.

Irrigation systems coverage:

Irrigation systems coverage is another optional coverage provided by many farm insurance carriers. Your irrigation system is vital to maintaining a healthy crop especially during those dry summer months. Without regular rainfall, the need to have a well maintained irrigation system is extremely important. If your irrigation system goes down so do your crops. With Irrigation systems coverage you can get that system up and running properly in a shorter amount of time. Allowing you to mitigate the effects of prolonged drought.

Increased limits for borrowed machinery:

Increased limits for borrowed machinery may allow for additional loss settlement evaluations to allow for claims for loss of income made by the lessor against the lessee for damages to the equipment being leased or borrowed.

Your custom Farm and Ranch owners policy also comes with supplemental coverages already built in for you. These supplemental coverages can include Fire Department surcharges, debris removal and coverage for signs and fences. In the event of a major storm in which trees, barns and other structures are destroyed and ripped from the earth these coverages allow to cover the expense associated with the removal of that debris.

With Insure918, Inc. you will receive prompt and courteous service before and after you become a part of the Insure918 family. After our initial insurance review and consultation, I will obtain the necessary information and shop multiple carriers to make sure we are able to find the right coverage for the best price available.