As a farm owner, your work is likely never complete. Along with daily chores and tasks necessary to keep your farm running, you must also make decisions regarding insurance coverage. Farm insurance is a must, as it protects your property, crops, and livestock if a covered loss occurs.

Main Components of Farm Insurance

While insurance policies vary from company to company, virtually all farm insurance contains dwelling and liability coverage. Dwelling insurance is typical to home policies that address covered perils like wind, rain, and storm damage. It also offers protection against fires and crime, such as theft and vandalism.

Liability coverage protects you as an individual when facing particular legal issues. This insurance is also similar to the liability portion of home insurance because it covers medical costs for any injuries incurred by third parties while on your farm. It also protects against third party property damage and legal fees.

Optional Policies to Enhance Coverage

If you’re like most farmers, you’ll need additional coverage to ensure you’re fully protected. For example, livestock coverage is crucial when you have pigs, chickens, horses, or other animals on your farm. Livestock can be insured individually, or you can receive a blanket policy that covers all animals equally. 

You can also safeguard crops against poor weather and other threats with farm insurance. If you have staff on your farm, consider workers’ compensation. You can also choose business interruption insurance, business vehicle coverage, and policies to protect farm equipment like tractors.

Finding the right farm insurance is challenging with so many options. The team at Pearson & Barnes Insurance strives to make the process easier for their clients, which is why they explain different policies and what they cover. Agents offer more than two decades of combined experience, which is beneficial when looking for complex insurance products. They also provide home, life, and auto coverage to clients in Somerset, KY. Call (606) 679-1450 to learn more or visit them online for the full listing of business insurance services.