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Farming encompasses a wide variety of business operations. It can range from the small hobby farm with only a few acres to very large farms with thousands of acres. Farms are also specialized, with some focusing on livestock and others on grain operations. Additional specialty farms can include Dairy, Poultry and Hog, as well as commercial vegetable farms. Each type of farm operation has buildings, farm contents, and equipment unique to it. As a result, farm insurance policies need to be customized to address the individual exposures each operation has.
Generally, farm Insurance policies would be designed to cover the following:
This coverage would be similar to any owner occupied dwelling and would include a package that covers the dwelling, any personal use outbuildings (such as a detached private garage), personal contents and additional living expense – should an insured loss force you out of the home while repairs are being completed.
The types of buildings that need to be insured will vary with the type of farm operation, but could include barns, machine sheds, shops, greenhouses, granaries, corrals and fencing.
Any tools or equipment associated with the farm operations are not covered by the Personal Contents coverage under the Home. They would require their own coverage as part of the business operation. This can include Tack and spare equipment parts.
This coverage would include all farm mobile equipment and implements, irrigation equipment, fuel stands, and grain dryers. Dairy, Hog and Poultry farms would have specialized equipment that would need to be covered as well.
This coverage provides for death and destruction of livestock from certain named perils.
This can include crop inputs such as seed, fertilizer and chemicals as well as crop outputs (grain, produce, hay, straw, silage or feed).
The farm package will include liability coverage for both the personal liability and the business liability of the farm. This coverage will protect you, as the farm operator, if found legally responsible for property damage or bodily injury to others.
Forest Fire Fighting Expense
At Prairie Villa, we will work to help customize your farm policy to meet your specific needs.