Protect your home and personal property with farm and ranch insurance. This policy type often includes elements of a standard homeowner’s insurance plan and specialized coverage for unique risks. For example, a farm and ranch may need excess liability coverage to help offset high-dollar claims. Livestock mortality coverage is also available to protect against losing valuable animals like prize bulls and stud horses.
Protect your assets
Whether you have livestock, crops or farm structures, they all need protection. Ranch insurance can offer a variety of coverage options, including physical damage coverage for barns, silos and other facilities, personal property floater coverage for valuable items like art or antiques and liability coverage. Many farms and ranches operate as both a home and a business, which presents unique insurance needs. If a batch of jam sold at the farmers market makes someone sick or an equine accident occurs on the premises, it can lead to expensive lawsuits not usually covered by homeowners insurance. A ranch policy can also include crime coverage to help offset the costs of lost or stolen items.
Protect your livelihood
Farms and ranches are more than just properties: they’re your livelihood. That’s why it’s important to protect them with farm and ranch insurance. This type of insurance offers a dual coverage plan that includes dwelling coverage (similar to a homeowner’s policy) and livestock and crop coverage. Depending on the nature of your business, this policy may also have liability coverage, which shields you from third-party claims for bodily injuries or property damage that occur on your property. According to the University of Missouri, this is particularly important in cases where you have employees working on your ranch. Finally, ranch insurance can include livestock protection for your most valuable assets. This may include scheduled or unscheduled coverage, allowing you to list individual animals or cover all your livestock under one limit.
Protect your family
Farm and ranch owners function as home and business, making them unique insurance candidates. This combination requires coverage beyond the personal property and liability protection available through a homeowner’s policy. A family-operated farm or ranch has a variety of real and personal property, including equipment, livestock and buildings that require coverage from risks like fire and windstorms. It also faces threats unique to farmers, such as the death of animals or the destruction of crops from hail. Ranchers must work with an experienced insurance agent who understands their unique challenges. A knowledgeable agent can assess the risk and provide a tailored policy that is an effective fit for your agribusiness. Bundling personal, farm and business property and liability policies often offer discounts.
Protect your property
Property coverage is a key component of most ranches’ insurance plans. Ranch insurance offers a variety of policy options to protect ranch owners from the many losses that can occur on their property, including livestock coverage, farm machinery insurance and even an excess liability option to provide additional protection beyond what’s offered by the standard policy. If expensive farm equipment is damaged or destroyed by a covered peril, ranch insurance can help to replace it quickly and affordably. Additionally, suppose your home or another structure on the ranch becomes uninhabitable due to a covered loss. In that case, you can count on your ranch insurance policy’s fair rental value coverage to help pay for lodging and other expenses while the repairs are underway.
Protect your future
A farm and ranch insurance policy protects farmers and ranchers from financial loss in accidents, natural disasters, or other events beyond their control. It can also cover expenses incurred in repairing or replacing costly machinery and crops. It can even include liability insurance to pay for legal costs associated with allegations of property damage, personal injury or wrongful death. Owning a ranch offers many benefits for families looking to immerse themselves in nature and lead a quieter lifestyle. Besides providing a source of income, farms offer recreational opportunities for families, such as horseback riding and fishing. This is a great way to stay active and reduce stress levels. Also, owning a ranch is an investment in a physical asset that can increase in value over time.