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Insurance Guarantees the Future


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Insurance Guarantees the Future

Have you ever taken a step back to think about what you're really doing when you buy insurance? If so, you may have realized that when you buy insurance, you are guaranteeing the future. For instance, if you insure your car, you are guaranteeing that if something happens to your car in the future, you will have the money to repair it or replace it. If you insure your home, you're guaranteeing that if the roof caves in after a big storm, you won't have to pay for repairs. This is just one way to think about insurance, of course. You can learn more about the field — and other ways to think of it — here on this blog.

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Different Types Of Farm Insurance You Might Need To Protect Your Small Farm

When you think about farm insurance, you might think about it being a requirement for bigger farming operations. Even if you only run a smaller farm, however, you should still have insurance. In fact, there are a few different types of insurance policies that you will probably need to purchase if you haven't already. An insurance agent who is familiar with farm insurance should be able to help you making insurance choices that are best for your specific business and property, but these are a few examples of the insurance types that you might need.

Vehicle Insurance

First of all, you might have pickup trucks and other vehicles that are used when running your farm, and you'll need to make sure they're insured. A traditional auto insurance policy might not cover vehicles that are used for farming purposes. Instead, you may be required to purchase a different type of vehicle insurance policy to ensure that your vehicles are properly covered. Then, you won't have to worry about not being covered if you're involved in a vehicle accident or if one of your farm vehicles is damaged due to a natural disaster.

General Liability Insurance

Accidents can still happen on small farms, and there is the possibility that someone who is visiting your farm could be injured in some way. General liability insurance can help you ensure that you and others are covered when people visit your farm.

Workers' Compensation Insurance

Typically, general liability insurance does not cover employees if they are injured while working on your farm. For this type of coverage, you will need to have workers' compensation insurance. Depending on where your farm is based, you might be required by law to have this coverage if you have any paid employees who work for you, even if they are seasonal or part-time workers.

Product Liability Insurance

If your farm sells items to the general public — such as if you sell produce — then you might need product liability insurance. This protects you if someone gets injured or ill because of one of the products that your business sells, such as if someone gets sick from eating your produce.

Farm Equipment Insurance

You might have spent a lot of money on tractors and other farm insurance, and you'll want to make sure your equipment is covered. This is what farm equipment insurance is designed for.

Farm Structure Insurance

You might have barns and other structures on your property. If you want to protect your structures from fires, storms, and more, you'll need farm structure insurance.

Crop Insurance

If you grow crops on your small farm, you might worry about what will happen if all of your crops are destroyed, which could happen because of the weather or because of a wildfire. Crop insurance helps protect you if your crops are damaged or destroyed.

Livestock Insurance

Even small farms often have livestock, and some of your livestock might be valuable. You can protect your investment with livestock insurance.