You need farm insurance if you own a farm, have acreage that you rent to other farms, or have farm operations such as renting land from others and growing crops.
A standard homeowner's insurance policy does not provide proper coverage for a farm operation. A farm insurance policy includes coverage for your home and personal liability, as well as your farm and farm liability needs. A farm insurance expert will help you determine the coverages needed for your commercial farming operation.
A farm insurance policy covers farm buildings, bunkhouses, farm machinery, tools, equipment, livestock, produce, your home and primary residence (including personal contents and detached private structures), personal liability, and farm liability.
Primary Farm Residence Coverage
Protects your home, personal property, and personal legal liability.
Farm Liability Insurance
Protection if visitors are injured or others' property is damaged due to your farm operations.
Replacement Cost Coverage
For farm buildings such as barns, implement sheds, bunkhouses, corn and grain bins, dryers, Quonset buildings, horse stables, silos, greenhouses, and kilns where structures qualify. Builders Risk Insurance is also recommended while a building is under construction.
Waiver of Depreciation Coverage
For farm machinery and equipment purchased new, leased, or rented. Loss-of-use coverage is available for qualifying equipment during a claim.
Limited Farm Pollution Liability Coverage
Protects against third-party damages from an unexpected, unintentional pollution discharge from a structure or container on your property.
Hydro Poles Coverage
Physical damage to hydro poles, transmission lines, and transformers permanently installed and farmer-owned.
Livestock Coverage
Cattle, sheep, goats, poultry, rabbits, mink, and horses against fire, falling objects, and theft; optional heat prostration coverage available.
Produce Coverage
Harvested crops and agricultural products including seed, feed, fertilizers, herbicides, pesticides, milk, fruit, and vegetables; includes spoilage of refrigerated produce and packaging and advertising materials.
Ginseng Shades, Seed and Dried Root Coverage
Shade and posts, poles, and hardware; seed in storage; harvested root through transfer, curing, and storage.
Sudden and accidental physical damage to owned or leased boilers and mechanical or electrical equipment; can include loss of income from breakdown.
Loss of Income Coverage
Covers loss of income following a covered loss to a farm building or equipment until normal operations resume.
Farm Umbrella Liability coverage
Excess farm liability over the primary limit; can extend to excess automobile liability.
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What Are Some Common Farm Liability Risks?
Below are some common farm liability exposures farmers may want to discuss with a farm insurance expert.
How Many Acres Do You Need for Farm Insurance?
There is no minimum or maximum number of acres required for farm insurance. If you have farm operations – large or small – you need farm insurance. If you have multiple farm locations, each location needs to be listed on your farm insurance policy and liability extended to each.
What Is Farm Insurance?
Farm insurance is an insurance product with specialized coverage for farm owners or individuals who are farming. It protects a farm's assets, including farm buildings, farm machinery and equipment, livestock, produce, liability and more.
Why Do I Need Farm Insurance?
If you own a farm, having farm insurance is essential. Having the proper farm insurance coverage in place will give you peace of mind knowing your farm is properly protected in the event of a loss. If you didn't have farm insurance and experienced a loss, you could be left without the buildings or necessary equipment to operate your farm, you could be left to defend yourself against a lawsuit, or you could be left having to pay out-of-pocket expenses to get your farm back up and running. With the proper farm insurance policy, you could get back to operating as soon as possible after a loss to help minimize financial losses. It is also important to note that if you attend farmers markets to sell your farm products, the market may require proof of insurance.
What Kinds of Farm Insurance Does Morison Insurance Specialize In?
Morison Insurance specializes in a wide range of agriculture insurance, including:
