Operating a farm or ranch has many inherent risks and uncertainties, necessitating a robust insurance policy to protect these valuable assets. Farmers and ranch owners need to understand the importance of insurance. 

What Is Farm Insurance? 

Farm insurance is a type of insurance designed to protect farmers from potential financial losses that may occur due to risks related to farming operations. It covers various aspects of farming operations, such as farm buildings, equipment, crops, livestock and liability coverage for accidents and injuries that may occur on the farm. 

What Types of Coverage Are Included in a Typical Farm Insurance Policy? 

Farm and ranch insurance typically covers the following: 

• General liability insurance can help pay for a farm’s legal liability for third-party injuries and property damage. 
• Farm dwelling coverage can provide protection for the primary residence on the farm or ranch, including the home itself and attached structures, such as a garage or barn. It can help repair or replace these structures in case of covered perils like fire, windstorm or vandalism.
• Farm property coverage can cover the physical property associated with the farming or ranching operation, including barns, silos, sheds and other outbuildings. 
• Farm equipment insurance can help repair or replace farming equipment and machinery in case of damage or theft.
• Livestock coverage can provide protection for livestock, including cattle, horses, poultry and other animals, in case of perils like disease, theft or death due to accidents.
• Crop insurance can offer coverage for crops, helping to mitigate financial losses in case of crop damage due to natural disasters, pests or disease. Crop insurance often includes options for different types of crops and different coverage levels. 

What Factors Affect the Cost of Farm Insurance? 

Farm and ranch insurance policy premiums depend on multiple factors, including: 

• The types of coverages you choose
• Your policy limits and deductibles
• Your claims history
• Your property value 
• Your location 

 

Contact Stewart Kriese Insurance Agency to discuss your farm and ranch insurance needs. We can provide a quote for coverage of your specific operations.