Saltillo, Nebraska
655 Chestnut St.
Hickman, NE 68372
(402) 791-5030

5 Important Reasons You Need to Buy Farm Insurance July 17, 2018

Saltillo, Lancaster
5 Important Reasons You Need to Buy Farm Insurance, Saltillo, Nebraska

Buying farm and crop insurance is one of the most important ways to protect yourself if your livelihood depends on the harvest. If you are not currently covered, First State Insurance Agency in David City, NE, offers some compelling reasons why you should be. The following information should help you understand why farm insurance is essential for anyone who owns farmland.

5 Reasons You Need Farm Insurance

1. Protect Your Home & Personal Property

Farm insurance usually contains a dwelling coverage component that protects your home. For example, if your dwelling suffers damage due to fire, storm, vandalism, or other named hazards, your policy covers the cost of repairs. In addition to the structure of your home, farm insurance also covers the loss of its contents. This includes electronics, clothing, appliances, furniture, and other personal property. You can also customize your policy to cover other structures such as barns, sheds, grain silos, and even fences as needed. 

2. Protect Your Farm Equipment

Farm personal property—which is distinct from household property—is also covered. You can purchase broad coverage for grain, tools, and other items used in your agribusiness. For the utmost protection, you should purchase individual riders for your high-cost equipment like plows, tillers, and cultivators. This ensures that you receive full value if they sustain damage.

3. Guard Against Liability

Farm insuranceFarming can be dangerous, so farm insurance pays for medical treatment and repairs if you or a member of your household should accidentally injure someone or damage their property. For instance, if you should injure someone while operating a harvester, your farm insurance policy pays the doctor's bill. If an animal escapes, crosses a road, and causes an accident, insurance will protect you from paying out-of-pocket for damages. Your policy also pays for any legal fees arising out of these incidents.

4. Protect Your Crops

Crop insurance pays out if your crops are damaged by fire, insects, weather, or drought. It also covers unexpected drops in market price. So if prices drop just before harvest, your insurance will bridge the gap to protect your financial security.

5. Protect Your Livestock

The simplest way to protect livestock is with a policy that covers your entire herd based on the market price for each animal. For high-end animals like a prize bull or thoroughbred horse, you can purchase individual coverage to ensure you receive full value for any loss.

Farm insurance is an essential risk management tool. To discuss your coverage options with an experienced professional, contact First State Insurance Agency. For your convenience, they maintain locations in Beatrice, Hickman, and David City, NE. They also specialize in home, life, business, and auto insurance, so they are effectively a one-stop shop for all your coverage needs. Call their all-agency number (402) 979-7585 to request an insurance quote, and visit them online to view a list of their insurance products.

Other Announcements, Events and Deals from First State Insurance Agency
3 Aspects to Consider When Comparing Insurance Quotes, Saltillo, Nebraska
Your home insurance policy protects your most valuable asset, while also extending an umbrella of coverage over every aspect of your life. Whether you’re buying a home or it’s time t...read more
Frequently Asked Questions About Homeowners Insurance, Saltillo, Nebraska
Your house is likely one of your most valuable assets. Protect it with homeowners insurance. If you are unsure what that entails, the guide below offers a closer look at wh...read more
How to Estimate Homeowners Insurance Costs Before Buying a House, Saltillo, Nebraska
When buying a home, it’s important to understand that the listing price is not the only cost to think about. You will need to budget for a variety of expenses, including homeowners i...read more
How Crop Insurance Protects You, Saltillo, Nebraska
As a farmer,  your livelihood depends on your harvest at the end of the season. If your crops aren’t what you expected or if market prices have decreased, you might be unable to...read more
What to Do After Being Involved in a Car Accident, Saltillo, Nebraska
Being involved in a car accident, whether it’s a fender bender or major collision, is often stressful and traumatic. The experience can leave you shaken, making it difficult to think...read more