Farm and Ranch Insurance

Your Quick Guide to Farm and Ranch Insurance

As a farmer or rancher, you have unique insurance needs. Your property is your home and your business at the same time. Farm and ranch insurance covers both aspects, making sure you, your family, your home, your livestock, your equipment, and the buildings on your property are protected. Our insurance agents at Kinder’s Insurance Agency will find the right policy for you.

What Does Farm Insurance Cover?

Your farm or ranch insurance must provide extensive property coverage and should include the following:

Main dwelling, farm buildings, and other structures on the property
Farm equipment and machinery
Livestock
Tillable land
Personal property

If a covered peril damages or destroys any of your buildings or possessions inside the buildings, your insurance will reimburse you. A covered peril could be a natural catastrophe such as a storm, but it can also include burst pipes, electrical power surges, or falling objects, like tree branches. If your livestock gets injured or dies as a result of a covered incident, your policy should cover that, too.

Insurance Protection Beyond Property & Liability Coverage

Depending on your situation, you may need additional coverage. For a hobby farm, basic property and liability insurance might be enough. But if you have employees, you need to carry worker’s compensation insurance. Any vehicles registered to your business must also be covered under a commercial auto policy, although you can sometimes list them on your personal auto insurance policy instead.
Here is a list of additional coverage you may need:

Flood insurance to cover flood damage to your buildings
Crop insurance (to cover things like flooding, hail, and insect infestations)
Commercial vehicle insurance
Workers’ compensation insurance if you have employees

If you depend on your ranch for a living, you probably want to consider crop and livestock insurance. As a farmer, you know better than anyone how easily things can go wrong. You may also need specialty coverages depending on the type of business operations taking place on your property.

The Importance of Liability Coverage

Liability insurance can cover medical bills for personal injuries, property damage, and attorney fees. It’s extremely important to ensure you have adequate liability protection. With farm equipment and livestock, the potential for property damage and injuries is higher than for a regular homeowner, and your policy must protect you from that added risk.

FAQs about Farm & Ranch Insurance

Who Needs Farm & Ranch Insurance?
If you run a homestead or operate a full farm or ranch, it’s important to secure adequate insurance coverage. Your homeowner’s insurance will not cover damage to your crops or your livestock if there are adverse weather events. You also need liability coverage to protect your assets in case someone makes a claim for bodily injury or property damage. A rogue animal or malfunctioning farm equipment can pose substantial risks.

What Are the Benefits of Farm Insurance?
Adequate farm insurance provides you with the peace of mind you need. You don’t want to risk losing everything you worked for if something bad happens, whether that’s a natural catastrophe or an accident on your property. If your farm is your livelihood, insurance can also help you weather the difficulties of a poor harvest.

What If My Farm & Ranch Insurance Needs to Change?
It’s important to keep your farm insurance up to date. If you’re adding or selling land, building new structures, or expanding your livestock, our insurance agents are ready to update your policy as needed. You also want to update us if you add or sell insured equipment, switch crops that are insured, or hire more employees.

Let’s Review Your Farm & Ranch Insurance Policy

We want to make sure your home and your business are properly insured. Your farm or ranch are more than just your livelihood for you, which is why we want to help you protect it. Call our team at Kinder’s Insurance Agency to review your farm and ranch insurance policy.

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