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Why You Need Insurance for Your New Farm

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Are you looking to do a little farming or perhaps a lot of farming in the near future? Whether you are building a hobby farm or something much more substantial, you need to make sure your investment is protected. To that end, here are some considerations to keep in mind when thinking about farm insurance for the first time.

Your Homeowners' Policy Likely Does Not Cover You

It's one thing if you are just putting down a few plants in a backyard garden. But if you are building out a serious hobby farm, it's likely that your current homeowners' insurance does not provide you with the coverage you need. Some policies specifically exclude farming from coverage. You will want to read the fine print on your current policy and then likely reach out to a local expert on farm insurance for assistance.

If Your New Farm Will Be a Significant Source of Income, Make Sure You Are Protected No Matter What

You might have already done the math on how much money your new farm will bring in every year based on the amount of crops you think you can grow and the price those crops will fetch at market. In the best case scenario, things will work out exactly as you planned. But sometimes Mother Nature or just the world in general does not want to cooperate. Maybe a natural disaster destroyed a large swath of crops. Maybe your farm was raided by local thieves and you are left picking up the pieces. A farm insurance policy typically will have an option to provide a payout if an unforeseen disaster leads to a significant reduction in revenue. Such a policy or rider will ensure that your family's income is not significantly affected when something does go wrong.

Your Farm Vehicles and Employees Need Coverage Too

You have insurance on your car, so why wouldn't you make sure you have a similar policy on your tractor? Whether it's your farm's vehicles or the farm employees that you hire, it's likely you don't have a current policy anywhere that will cover you if something happens to your equipment or your personnel. Farm insurance policies typically can offer specific coverage for things like liability protection and vehicle coverage.

Protect your new farm no matter its size by reaching out to a local provider of farm insurance today. Visit a site like to learn more about your insurance options.