Just like a standard homeowner's insurance policy, farm insurance covers your home, personal property, liability, and additional living expenses. In fact, farm insurance can almost be considered a hybrid of homeowner's and business insurance, offering elements from both. This is because farm insurance works to cover both personal and financial losses.
While farms come in a wide range of shapes and sizes, every type of farm can benefit from the use of farm insurance. Since no two farms are exactly the same, farm insurance policies tend to be highly customized in order to provide the best coverage options for both property and liability. Since the individual nature of each farm is different, it is important to work closely with your insurance broker in order to ensure that the farm and investments are fully covered.
Some of the different types of farminsurance available include:
Dwelling insurance is similar to home insurance as it works to protect the dwelling and its contents from fires, storms, theft, vandalism, and other similar events. This type of insurance also covers attached structures, such as garages.
Liability insurance works to protect you from a lawsuit in the event that an employee or a visitor is hurt while on the farm. This type of policy also works to cover accidental bodily injury, medical expenses, and property damage.
Other building insurance is designed to protect other buildings on the farm that are not attached to the house. This can include protecting structures such as barns, stables, silos, corrals, and any other building or structure on the farm.
Livestock insurance policies are designed to cover financial losses in the event that some of the farms livestock is accidentally shot, drowned, or died due to a loss of electricity. This type of insurance policy is available in individual coverage for insuring animals separately, herd insurance for large groups of animals, and blanket insurance, which also covers equipment and structures.
Crop insurance is available in both crop-hail insurance and multi-peril insurance. Crop-hail insurance works to protect your crops specifically from damage caused by hail, while multi-crop insurance works to protect crops against hail, fire, floods, insects, and other natural disasters. This type of farm insurance can be the most confusing, so it is important to speak with an insurance agent before purchasing crop insurance.
If you own a farm in Abbotsford and are looking to purchase farm insurance, Mountainview Insurance offers a wide range of farm insurance policies. No matter what type of farm you own, please stop by our Abbotsford office, or contact us at 604-557-0255 or by filling out a contact form on our website. Our team of professional farm insurance experts can help you find the perfect policy for your specific farm.
We’re ready to understand your insurance needs and to work for you to get the coverage you need.