Farm Insurance

Farms contain numerous valuable assets. Insurance coverage can safeguard a farm and prevent potential financial hardship from dangers that put operations at risk. 

What Is Farm Insurance?  

Staying operational is critical to a farm’s revenue stream. Farm insurance can protect your equipment, buildings, and even lost income if you should experience an unforeseen disruption. At the Ed Weeren Insurance Agency, our team can explore the various types of coverage you may need based on your farm’s unique risks. 

What Coverage Do I Need? 

Farm insurance is not a single type of insurance but rather a combination of policies that can protect your operational assets. Although farms need the standard insurance that other businesses need, such as property insurance and general liability coverage, they also need insurance coverage related to their business.  

Many farmers use a combination of these coverages for protection:   

• Crop insurance—Many farms make a lot of their profits through their crops. When a disaster strikes, such as a tornado, wildfire or flood, crops can be destroyed, and this coverage can reimburse farmers for their losses. Before buying crop insurance, it’s vital that farmers accurately represent the planted acreage they have per unit. They may not be reimbursed for all losses they could realistically experience should they underreport.
• Livestock insurance—This multifaceted type of coverage has several policy options. For instance, farm owners can buy coverage for specific activities, such as their livestock’s transit or auction market coverage. They can also purchase coverage for particular animals, such as poultry coverage or pasture and dairy cattle coverage. They can also choose to buy mortality insurance for animals with an exceptionally high value to the farm, such as a stud.
• Farm equipment insurance—Various machinery is vital to a farm’s operations, from tractors to irrigation equipment, trailers to combines. This coverage allows farmers to be reimbursed for certain losses and damages and can help their farms operate.
• Workers’ compensation insurance—Farms that employ people should consider workers’ compensation coverage. Without this protection, farmers must pay their injured employees’ medical expenses and lost wages out of pocket.
• General liability insurance—This coverage gives farms needed protection from any claims, including bodily injury, property damage, personal injury and others that result from a farm’s operations. 

What Are Other Supplemental Coverages Available? 

Depending on the scope of their operations, farmers may choose to add additional insurance for further protection. These may include: 

• Equine insurance. Horses are often valuable for farm operations, and a single loss might be expensive. This coverage may insure your horses against death, injuries and other hazards. 
• Farm auto insurance. If you use or own vehicles or tractors for your farm’s operations, you may need coverage to protect these items against damage or other losses. 
• Farm dwelling insurance. If you live on your farm, this policy may provide coverage for your home. 
• Farm liability insurance. Your operations might cause bodily injuries or property damage to various people, including your clients. This coverage may help you repay them for their losses. 
• Farm structures insurance. This coverage may provide coverage for structures on your farm, including barns, grain silos and other property. 
• Umbrella insurance. An umbrella insurance policy may help protect against liability claims exceeding the limits set on your other liability policies.  

How Much Does Farm Coverage Cost?  

The cost of your farm’s insurance depends on which policies you choose, as well as other factors, including the size of your operations, number of employees and nature of your business. We can explore your options to ensure you get the coverage you need for the best protection. 

How We Can Help 

Since 1899, Ed Weeren Insurance Agency Inc. has helped residents in the Austin, Texas, area with their insurance needs. Call us today at 512-454-5266 to get started on your farm’s insurance or to modify your current policy.