A farmer’s livelihood is directly tied to how functional their machinery is. You can’t work the land without the right resources, which is why farm machinery insurance is essential. With the right policy, you’ll be able to repair or replace any equipment that gets damaged to keep operations running.  

What to Know About Farm Machinery Insurance

What types of damage usually affect farm equpment?

Many farm machinery claims come from collisions with other vehicles, pieces of equipment, or buildings. Storm damage also accounts for a lot of claims—from high-speed winds to impacts from hailstones. Other sources include fire, smoke, theft, and vandalism.

What types of coverage are available for farm machinery?

“Scheduled” coverage applies to specific pieces of farm equipment that you identify in your policy. This allows you to protect the tools you rely on the most. However, for some added cost, you can get a blanket policy that insures all of your personal farm property—paying for repair or replacement costs up to a predetermined limit. 

What’s the difference between farm machinery & farm vehicle insurance?

If you earn a full-time farming income, any passenger trucks you own are legally considered farm vehicles. Farm trucks need to be licensed for use on public roads. Luckily, farm vehicle insurance tends to be cheaper than regular auto insurance and can be applied even when you are using the truck for non-farming purposes.

Farm equipment that isn’t intended for the roads, like planters and combines, are farm machinery and require the corresponding coverage. 

What are some insurance customization recommendations?

While basic farm machinery insurance protects you from natural disasters and outside harm, confirm that it also pays for malfunctions. If not, ask your agent about a rider that will allow you to file a claim for these kinds of damages so that a breakdown doesn't halt operations. Additionally, floods are sometimes excluded events in policies. Therefore, if your air is especially prone to this phenomenon, consider expanding coverage.

When you need farm machinery insurance, turn to Kirk Insurance Agency. They have over 20 years of experience serving residents and farmers of Spearman and Perryton, TX, as well as the surrounding areas. To learn more about their products, visit them online. Call (806) 659-2794 today with questions.