Farm Insurance: From Hobby Farms to Commercial Farms

When it comes to insuring your farm, understanding your insurance provider’s policies are key to protecting your operation. At Mountainview Insurance, we know that the better your understanding of farm insurance is, the better choices you will be able to make down the road. That is why we have put together some information on farm insurance, from hobby farms to commercial farms, to help you choose the best insurance policy for your farm.

How to Know if You Need Farm Insurance

You might think that you do not need farm insurance if your farm is merely a hobby farm and you do not receive any income from it; however, not all homeowner’s insurance policies cover farming activities. Since farming can be a dangerous activity, it is important to know if you need farm insurance for your particular farm and how much farm insurance coverage you need. Answering “yes” to any of the following questions is a good indicator that you should invest in farm insurance:

• Do you grow and sell any crops?
• Do you have any animals on your farm?
• Do you have barns or other large outbuildings?
• Do you use farm machinery?
• Do you rent your land to a farmer?

Do you need livestock insurance?

The Different Types of Farm Insurance

When it comes to trying to figure out which type of farm insurance works best of your farm, you should always talk to your insurance provider about the specifics of each farm insurance option.

Some of the different types of farm insurance available include:

• Farm Homeowner – If you own and live on a farm, you will need to purchase a farm/ranch homeowner policy, which should cover your house, personal property, living expenses if your home is damaged, theft of personal and farm property, damage to farm equipment, outbuildings, farm assets, livestock losses, chemical drift, and liability and medical expenses for farm injuries.
• Farm Property – If you own a farm but do not live on it, you can get insurance that covers the same items as farm homeowner insurance, minus the house coverage.
• Farm Rental – This insurance is for people who rent and live on a farm property, and works to cover the same things as homeowner insurance.
• Farm Liability Insurance – While other farm insurance policies might include liability insurance, it might have a limit that is too small for your needs. You can always purchase additional farm liability insurance or umbrella.
• Product Liability Insurance – This covers all of your farm products (i.e. jam, cider, and cheese).
• Vehicles and Equipment – For expensive equipment, you can get equipment insurance to cover any damage or theft, and you can also purchase a collision insurance plan for any vehicles that you use for your farm.
• Agritourism – This type of insurance will cover you in the event that someone is injured or becomes ill from eating your products, while on your farm.

If you would like to learn more about farm insurance, or if you are interested in one of our products, please contact Mountainview Insurance at 604-557-0255 or by requesting a quote on our website.