Farmers play an essential role in the food industry. They raise a variety of livestock and tend to crops that end up in grocery stores all over the United States. However, farmers are not immune to risk and are vulnerable to the same issues that other businesses face. This is where farming insurance comes into play.
If your farm employs workers, workers comp for farming businesses is a must-have. If one of your workers is injured while working on your farm, you are liable and will be responsible for their medical bills. Workers’ compensation insurance can pick up these costs for you.
Animal Mortality Coverage
Chances are, you raise livestock on your farm. Livestock is vulnerable to a variety of things including predatory animals, extreme weather, fire, and illness. Because of this, having animal mortality coverage is extremely important and could potentially save you from going out of business if the unexpected occurs.
Farm Machinery And Equipment Coverage
Most farms utilize specialized machinery to help them get their work done. This equipment can be extremely expensive to repair or replace and is constantly at risk of being damaged or lost. Some of the threats to your machinery are theft/vandalism, extreme weather, and fire. It is vital that you have good machinery/equipment coverage.
Running a farm can be a great way to make a living but is not risk-free. Good insurance can make a huge difference.