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Farm Insurance: 4 Things You Might Not Know About It

Whether farming is your hobby or a full-time occupation, you will tend to agree that there’s nothing more peaceful than working your own land. On the off chance you are thinking about selling produce from your farm to the local farmers or want to make farming your full-time job, it is important to make sure that you understand the basics of farm insurance coverage first. Listed below are four things that you might not already know about farm insurance policies.

Standard Homeowners Policy Covers Some Farming Activities: Many individuals treat their small farm or large garden as a hobby and have no plan of making money from it. On the off chance that you fall into this category, it is very much possible that your standard homeowners’ insurance policy will cover some of these farming activities.

But, do remember that homeowners’ insurance policies mostly exclude things like farm equipment and farm outbuildings. Make sure to speak with your insurance agent to find out precisely what coverage your farm insurance policy provides.

Farming for a Profit? – You May Need a Different Type of Policy: Hobby farming for a profit typically requires different coverage than your standard homeowners’ policy. If you start selling farmed goods at a local farmers market – you’ll need to consider a hobby farm policy.

Is Farming Your Full-Time Occupation? – You Will Need a Farm Owner’s Policy: If you want to take your farming activity to an upper level and start it as a full-time occupation, you’ll need farm owner’s insurance policy. Your basic farm owner’s policy generally includes property coverage, liability coverage, and more.

Farm Insurance Coverage is Not a Standard Policy: A common misbelief about farm insurance policy is that a policy is one big package of predetermined coverage. In reality, farm insurance policies have so many different aspects that there is no standard policy.

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