1. General Liability
Farm liability coverage is an important component of any farm insurance policy. It protects you from claims of property damage, bodily injury, and legal defense if you are sued for causing an accident on your farm business.
This coverage pays for medical expenses, as well as loss of income if you’re unable to work because of an accident that occurs on your property. It also covers the cost of replacing your property if it’s damaged or destroyed.
The best way to ensure your general liability coverage is adequate for your farm is to maintain good communication with your agent. That means keeping in touch with them when you purchase new animals, buy new equipment, or make changes to your structure.
For example, if your livestock will be used at 4-H shows, plowing matches, fall fairs, and other agricultural events, you need to inform your agent about the costs associated with these events.
It’s also important to know about coverage exclusions. For instance, your general liability policy might not cover you if you spray a restricted use pesticide without the appropriate training and certification.
2. Property Coverage
Property insurance is a critical part of any farm insurance policy. It provides protection against a variety of perils, including fire, windstorm and hail, to your property and any structures on your property.
This insurance can also protect you from liability claims if someone gets hurt on your farm, even if it’s not in your care or control. This includes people visiting your farm to do business, like salespeople or truck drivers, or trespassers who come onto your property uninvited.
Another important piece of property coverage is crop insurance, which helps cover losses from certain weather conditions, such as hail and windstorms, that can damage crops. Crop coverage is often included in a general farm insurance policy, but it can be purchased separately to meet your specific needs.
You can also get personal property coverage, which provides protection for your belongings inside and outside of your home, porch or deck. This coverage is similar to a typical homeowners policy in that it sets limits on a percentage of the replacement cost for your property.
