Are you looking for personal or commercial insurance coverage? If so, read on to gain more details about insurance policies Farm and Ranch offer to millions of customers out there. Be it as it may, before I proceed, I would point out that this post covers all there is that you need to know about Farm and Ranch Insurance Company. As a result, it makes sense to say that Farm & Ranch offers;
Take, for instance, the standard homeowners’ policy – this coverage protects the home, possessions, and personal liability. More so, it also includes coverage for your machinery and livestock.
That said, insurance policies by Farm and Ranch are completely customizable. In that, you can choose what you want to be covered. In other words, you choose what your most needs are.
Having said that, let’s delve into what Farm Insurance Company does best.
What does a Farm Insurance Policy Cover?
To begin with, in the above paragraphs, I did mention that Farm $ Ranch offers an insurance plan that covers personal and commercial policy coverage. To be precise, their policy covers properties that deal with Farm and Ranch operation. Suffice me to say that these policies are offered in categories. Namely;
- Farm machinery and equipment.
2. Livestock.
3. Farm products.
Farm Machinery and Equipment
In the event that you want to cover your farm machinery and equipment, you can always turn to Farm & Ranch insurance policy. As they offer good coverage that protects your farm machinery and equipment from loss or damage. More so, why you did choose Farm and Ranch insurance policy for machinery and equipment coverage is that this category covers almost every farm machinery and equipment you can think of.
List of Farm Machinery and Equipment Covered
- First, Tractors.
- Combines.
- Cotton pickers.
- Planters.
- Field equipment.
- Last on the list but not all they cover is Hay rakers and lots more.
In addition, if you use a truck for farm work, you may be able to add a commercial auto insurance policy and add it to your overall farm insurance package. There also exists an option to add Portable irrigation equipment and portable structures. It makes sense to say you’re your farm fences are covered in like manner.
Livestock
To start with, you talk about Livestock coverage because your livestock needs to be protected from injury or any sort. Aside, injury, you can also access coverage that insures other perils that farm animals get cut up with. To make it clearer, here goes a list of all the Livestock policy covers;
- First, the death of animals by accidental shooting or if they are struck by a train or vehicle.
- Second, attacks on livestock by dogs and wild animals.
- Third, loss of livestock as a result of flood and earthquake.
- Fourth, animal mortality coverage for houses – it covers death due to a good number of perils. Theft included. More so, it covers death due to sickness and disease.
- Finally, other livestock options for horses include major medical expenses, surgical expenses, and loss of use coverage.
Farm products
Indeed, it’s a worrisome burden for so many farms that are looking for insurance coverage that covers their farm products. Permit to say that farm insurance has taken care of that burden. In that the company ensures farm produce like;
- First, seed.
- Silage.
- Animal feed.
- Fertilizers.
- Finally, pesticides.
However, it makes sense to inform that while this farm produced mentioned is under coverage during storage, it’s not covered while growing on the farm. So, to get coverage on growing farm products, you will need to opt-in for a commercial insurance policy. But that will be if the sale proceeds exceed your policy’s incidental income limit.
Farm liability coverage
Let’s delve into the most ignored coverage people feels they don’t need – Farm & Ranch Liability Coverage. But I can assure you that you sure need the liability protection in other to keep up with unforeseen risks and damages. The Liability coverage helps protect your farm, animals and workers should any precaution actions go wrong.
To be practical, I have come across many cases where workers carefully observed all the precautionary measures. Yet accidents still occurred. We all are still human. So we still make mistakes. To which some originate from external factors who have no control over. Added to the fact that in this scenario the farmer is dealing with animals, which in most cases can miss-act against the farmer’s expectation.
In other words, farmers with years of experience operating machinery can misstep and hurt themselves. Moreover, something could startle an animal and cause it to injure a senior handler. In some other cases, if an animal manages to escape, wander into a roadway, and cause an accident. As a result, even though that incident didn’t occur on your property, you as the animal’s owner would be liable for damages and injuries if any.
The liability protection covers things like;
- Bodily injury.
- Medical expenses
- Property damage
- Attorney’s fees.
What you should know about Farms & Ranch Insurance Policy
Before I tie up this post, I would like to talk about the things which aren’t the way you may think there are. Most of these things are things that on a normal you would expect to be as thought out. But because of the varying needs of different people, those things are out of normal expectations. To start with;
Fencing Coverage
At this point, I would like to inform you that Farms & Ranch insurance fencing coverage isn’t automatically part of the policy. Why? Because not all farms would want to cover their fences, and not all farms are fenced.
More so, the reason fencing isn’t automatically added is also partly because many farms have a lot of fencing. And that’s exactly why standard farm policies don’t cover it. Some farms might not have any fencing, while others might have miles of fencing. There are many types of fencing too, which could impact the cost to insure it.
In sum, the choice for the fencing coverage is left for the insurance holder to make. Meaning that you can choose to add coverage for fencing or not.
Machinery and Farm Equipment Coverage
Bear it in mind that farm machinery and equipment are only protected by damages that are clearly listed in your policy. More so, equipment that is not well maintained will not be covered and technical malfunctions are not covered as well. Like many things, farm equipment is getting increasingly technically advance and unless you purchase a specific extension, it might not be covered.
Home and Building Coverage against Fire
Talking about farm coverage against fire. In general, homes, buildings, or farms are usually covered if any fire breakout happens. Although, there may be some exceptions. First, in cases where the road that leads to the house or building or farm isn’t good enough for trucks that extinguish first outbreaks to pass through.
Though, there still exist cases where your agent takes care of that. In that light, some carriers require there to be paved or solid gravel roads to buildings covered by the policy. As a result, without such a road leading to your farm or building, if any fire outbreak occurs, the damages might be high. And that is why some carriers exclude fire coverage for farms without a good headway to the farm.
Farm And Ranch Insurance Policy – Which should you go for?
The question is, should you buy a farm or ranch insurance? To answer you, you would need to put certain factors in view. However, your decision will be heavily dependent on your farm insurance needs.
That said, I will help you analyze three factors. Namely, extra structures outside your farm building, livestock that earns income, and the number of farmworkers you have or employees.
To start with, if there is an additional building erected on your farmland like a barn or stable or even garage. I’m sure you need specific coverage from farm insurance. If you have animals that earn income a normal standard insurance policy may not cover incidental income. As such, you might need more comprehensive coverage that protects your earnings from any damages that might occur.
Finally, in the case of employees, you will need to have an insurance policy that covers potential liability damages. And workers’ compensation claims. In some states, you made to buy a workers’ comp policy, but that is if you have two workers or more.