Farming is a risky business. From the ups & downs of the market to the potential for disease and natural disasters, farmers have to have some risk management tools to safeguard their investments. Insurance is one of the most common risk management tools farmers & agriculture business owners take advantage of.
Basically, farm insurance is an amalgamation of multiple common liability & property protections pooled into one comprehensive package.
What does farm insurance cover?
No two farms are the same, so fortunately you’ve the liberty to customize your coverage as per your needs. The main forms of coverage in any farm insurance policy are:
• Farm liability coverage: Safeguards you from losing the farm in the event of liability claims such as bodily injury to another person, damage to another’s property, medical expenses, and legal defense bills.
• Barn/Outbuilding coverage: Safeguards the buildings on your property that cater a purpose for your home or business. It includes everything from barns to outhouses and beyond.
• Livestock coverage: Safeguards your livestock in the event of disastrous death caused by things like tornadoes & wildfires. All animals can be protected under a blanket policy for one value or scheduled individually, or as a combo of the two.
• Crop coverage: Protects perhaps the most precious asset on your farm, besides your family… your crops. So if bad weather ruins your entire season’s work, you’ll be protected.
• Loss of business income coverage: Protects you if there is some sort of business disruption, replacing lost income & providing operating expenses to keep you grinding away.
• Workers' compensation coverage: Protects your workers and employees from sickness, injury, or worse as the result of a job-related accident.
Get your Farm Insurance in Ontario, Ca now from NOVINGER INSURANCE TEAM. Get in touch with one of our expert advisers now if you have any queries regarding farm instance.
