What is Livestock Insurance?

5 Dec 2019 Insurance Products

Understanding what livestock insurance is and how it can protect your animals will help you determine if it is something that you need for your farm. At Mountainview Insurance, they understand how important it is to properly protect your assets. That is why they offer a range of insurance products, including livestock insurance.

What is Livestock Insurance?

Livestock insurance is designed to help cover any losses to animals, whether they are on the farm or in transit. While this type of insurance policy is most often used to insure farm animals like horses, cattle, and poultry, it can also be used to protect exotic or aquatic animals. Livestock insurance will help to replace animals that die, have to be put down, or are stolen.

Types of Livestock Insurance

Since livestock often face mortality risks caused by accidents, sickness, and disease, it is important to ensure that you have the right amount of coverage to help replace any animals that are lost. Livestock insurance can be used to protect a wide range of different farm animals, such as cattle, goats, pigs, hogs, chickens, and emus. Some of the different types of livestock insurance that you can choose from include:

Individual Coverage

If you have a higher-value animal that you are looking to insure, individual coverage might be the best insurance option for your specific needs. For this type of livestock insurance, animals can be identified in whatever manner you use on the farm or ranch, such as ear tag numbers, names, or unique descriptions.

Blanket Coverage

Blanket coverage insurance can be used to insure all of your farm property, including livestock, equipment, and structures, under one lump sum amount. When using this type of farm insurance, it is important to ensure that you have the right amount of coverage, as being underinsured may cause you to receive a lower claim payment than you need or expect.

Herd Coverage

The most common type of livestock insurance is herd coverage. This type of livestock insurance allows you insure a specific number of animals, such as 100 head of cattle or 500 goats, in the event of a death or mishap.

If you would like to learn more about what livestock insurance is or what type of livestock insurance will work best for your particular needs, get in touch with Mountainview Insurance at 604-557-0255 or by filling out a contact form on their website today.