Farm insurance policies are uniquely designed to provide coverage for every aspect of your farm. As no two farms are completely alike, no two insurance policies should be either. As leading providers of comprehensive farm insurance, Mountainview Insurance understands how important the right policy is for your farm. That is why their team has compiled some information on what farm insurance covers and what may not be covered. Knowing this information is important for ensuring that you are fully protected in the event of a disaster or accident.
Learn about the different types of farm insurance.
What is Covered by a Farm Insurance Policy?
To construct an insurance policy that fits your farm operation, insurers will typically break the coverage you require into various categories. These categories include, but are not limited to:
Buildings
Farms will often feature a variety of buildings that are required to perform their daily tasks. These buildings include barns, shops, hired worker dwellings, and storage buildings. The contents of these buildings should also be insured for optimal coverage.
Farm Equipment
Any equipment used during regular operations—tractors, combines, swathers, balers, stock trailers, mobile tools—are typically grouped into one category. Some of this equipment must be regularly maintained and in good working order to obtain coverage.
Livestock
Beef and dairy cattle, horses, sheep, goats, and pigs are typically covered under a livestock policy. While additional coverage may be required to protect against losses due to unexpected health problems, basic policies will cover losses that occur due to natural disasters, theft, and vandalism.
What is Not Covered by a Farm Insurance Policy?
Some items are not covered by a basic farm insurance policy. For these items to be insured and covered, additional coverage often needs to be purchased. Items that likely require additional coverage include:
Fencing
While fencing is a necessary part of nearly any farm, it is not included in most farm insurance policies. Additional coverage is available for fencing, but the price of this coverage will vary based on the size and type of fence used.
Pollution Insurance
If you frequently use pesticides and fuel on your farm, it is worth purchasing a pollution insurance policy to reduce your risk of liability for a variety of claims.
Crops
If you grow crops on your farm, we strongly recommend purchasing a crop insurance policy. Crop-hail and multi-peril insurance are two popular options for crop coverage. To determine which option is best for your needs, get in touch with our team.
For more information on farm insurance and other insurance products, reach out to the team at Mountainview Insurance. Their experts can be contacted by phone at 604-557-0255 and will be happy to answer any questions you may have.