If you’re anywhere in between your early twenties and retirement, you probably have multiple types of insurance to keep track of. If you own a vehicle, you probably have auto insurance, which protects you against financial loss in case of an accident. If you have decided to protect your assets and want to give your family peace of mind in the event that you die, you might also have life insurance. If you own a home or a business, you most likely have homeowner’s insurance and business insurance, both of which cover incidental losses and damages. And if you live in the United States, you make monthly or weekly health insurance payments.
For any of these assets, you surely wouldn’t chance anything happening that might destroy them or lesson their value. Why wouldn’t you take the same precautions when it comes to what, for many people in the United States, is their business and their home?
If you happen to own any farmland, you have yet another insurance company to deal with: farmers insurance. Insuring your farmland is vital if agriculture is your livelihood. Good farmers insurance provides coverage that protects against structural damage to barns, silos, fencing, pens, dairy facilities, and other buildings or structures on the land. Some insurance companies even offer multiple kinds of insurances, and can give you health insurance quotes and car insurance quotes. Look for one that offers farm or ranch coverage as well, or ask for a referral.
You’ll also want to invest in a farm or ranch insurance policy which includes liability coverage. Not every policy has it, because it is risky for insurance companies, but it is smart to find a policy that tailors to all your needs as a farm owner. This coverage is similar to that included in health insurance quotes–it covers bodily injury and medical expenses that may arise from those injuries.
In the United States, the average farm is 442 acres, and statistically, there are about 2.06 million farms in the United States covering more than 911 million acres. Imagine if these farmers whose animals and land are their business and their home, didn’t acquire adequate insurance. Not only would their physical land suffer, but so might their equipment, livestock, crops, and any employed laborers. More shockingly, it could take years to repair the damage to what farmers and ranchers work so hard to build–those millions of combined acres of land. If you want to preserve your livelihood, your best bet is to seek out a policy that protects you, your land, and everything on it.
Ninety-nine percent of America’s 2 million farms are family farms, and they also contribute to 89% of all agricultural production in the country, according to the USDA. With so much riding on the health, safety, and wellbeing of farms and farmers and their families who depend on them, it is important to research which insurance company can offer you the best coverage at the right rates. Like auto, home, and health insurance quotes, you may have to compare rates and shop around to find the one that’s right for you.