Purchased A New Farm? What Farm Insurance Do You Need?
If you just purchased a new farm, you know that it takes a lot of time and work to get everything up and running. One thing you need to do is purchase farm insurance immediately. This will cover things to help save you a lot of money. Keep reading for different types of farm insurance available to you.
Insure Your Home
If your home is on the same land as your farm, you will need to purchase separate insurance for it in most cases. When choosing an insurance package consider what you want to be covered. For example, you may want to add fire or flood protection to the policy. Your home may be damaged if you have a hailstorm or windstorm.
Because running a farm is a business, you likely have a home office inside your home. If so, insurance will cover the equipment you may have if there is damage due to things not under your control. This may include your computer, laptop, tablet, phone system, and much more.
If you have employees that work with you on your farm, you need to have liability insurance. This will cover instances if you have an employee get injured while on your farm. If an employee is injured badly, they may not be able to work for some time. If so, you will need to pay for their time off, as well as cover their medical bills, rehabilitation, etc. This will also cover hospital fees if your employee has to go to the hospital due to their injuries.
Liability insurance can save you a lot of money because you may have an employee sue you if you do not cover these things. A lawsuit can get expensive, and you may even lose your farm if this happens.
Insure Farm Equipment
If you use farm equipment on your farm you know how expensive some of this equipment is. Because of this, purchase insurance to cover your farm equipment. This covers your farm equipment, as well as any supplies you may use and other types of machinery on your farm.
Even if you only use one tractor, it may cost you thousands of dollars to replace it. If the tractor is damaged due to high winds, a fire, hailstorms, etc., you could have the tractor replaced quickly so you can continue working on your farm. This goes for other farm equipment, such as plows, balers, seeders, and ATVs (all-terrain vehicles) or UTVs (utility task vehicles).
Visit a farm insurance website, such as http://www.wrg-ins.com/, to learn more.