It’s easy to overlook insurance when purchasing and maintaining farm equipment. While this machinery often costs significantly more than your vehicle, you don’t place it in situations where there’s a risk of accidents or damage. When your tractor or combine is out in the field or your barn, it can seem like insurance isn’t a necessity. However, just because your implements are typically out of harm’s way doesn’t mean it shouldn’t be covered. Whether you’re a multi-generational farmer or new to the trade, here are some of the biggest reasons why you should insure your farm equipment.

3 Reasons to Purchase Insurance for Your Farm Equipment 

1. To Cover Repairs 

If any machinery is damaged during a covered event, your insurer will pay for all necessary repairs. Covered events include fires, lightning strikes, windstorms, hailstorm, vandalism, and theft. Since farm implements are highly specialized and utilize specific parts, repairs can be costly and could place your bottom line in jeopardy if they were significant enough. If you cannot afford to repair a vital piece of equipment, you will not be able to perform the tasks, like bailing hay, that provides you with income.

2. To Replace the Equipment

A unique aspect of farm equipment insurance is that is covers theft. While the thought of someone stealing such massive machinery seems unlikely, it does happen. By purchasing a policy, you’ll have peace of mind knowing you’re covered, regardless of the circumstances.

3. To Protect Your Assets 

Farming can be dangerous, and most insurance policies will include personal liability insurance if someone gets hurt by your equipment. Regardless of whether you or the injured party were operating the machinery at the time of the accident, you could face a personal injury suit in the wake of the incident. If you don’t have insurance, you could be forced to liquidate various assets to compensate the claimant for the resulting damages. If the person is a trusted employee, then you will know that you can help cover medical costs and provide them with a safety net while they recover.

For an affordable policy that covers your farm equipment, turn to Texas County Mutual Insurance in Licking, MO. Founded in 1904, they have the resources of a large firm but remain committed to providing the personalized attention you would expect from a small-town agency. They will help you choose a policy that protects your interests and ensures that events outside of your control will not compromise your livelihood. To request farm insurance quotes for all your equipment, reach out on their website or call (573) 674-3125.