When it comes to reviewing farm insurance quotes, you must know the essentials, so you can ensure you are completely protected with adequate coverage. This is because a typical home insurance policy does not cover the land used for farming operations, farming-related structures, and tools and equipment. Choosing a comprehensive farm insurance policy can not only protect your business but also help you avoid overpaying. Read on to learn about standard farm insurance coverage so you can make an informed choice.
Coverage Offered by Standard Farm Insurance Quotes
- Residential Dwellings
You may often get some of your farm-related work done in your home office. This is why a general farm insurance policy covers the residential space on your farmland against explosions, fire, lightning, and more. Additional coverage is also available to safeguard against damage caused by bad weather, vandalism, sudden collapses, glass breakage, falling objects, and more.
- Farm Structures
Since many things could go wrong with the outbuildings on your farming land, farm insurance quotes typically include clauses to protect them in the event of damage due to lightning, fire, and explosions. You may opt for additional coverage to safeguard them against glass breakage, vandalism, sudden collapses, adverse weather conditions, falling objects, and more.
- Farm Tools and Equipment
In the event your equipment is damaged due to an explosion, fire, or lightning, standard farm insurance quotes offer coverage for the cost of repairing your damaged property. Also, you may purchase additional coverage for protection against other kinds of damages as well.
Machinery breakdowns can cost a significant amount of money while you wait for it to get fixed. In case one of your machines is damaged due to an explosion, fire, or lightning, having standard farm insurance can help cover the cost of repairs. You can also add additional coverage to reimburse you for lost days of work under such circumstances.
Having livestock insurance protects your farm animals, including sheep, horses, goats, cows, pigs, and more. Although you may need additional insurance coverage to protect them against losses due to unexpected health concerns, standard farm insurance policies can help cover losses because of fire, lightning, flood, earthquakes, vandalism, theft, drowning, and more.
- Hay and Feed
Insuring your hay and feed and stored products against fire and natural disasters ensures that you are adequately protected. This helps to prevent financial losses and safeguards your profits.
Since liability exposures are higher when dealing with farms, it is essential to have general liability or farm liability policy, depending on the coverage you may require. It can protect your financial interests if someone hurts themselves while on your property and safeguard you against expensive lawsuits.
Get Accurate Farm Insurance Quotes with Us
At Orr & Associates, we have insurance experts who can provide reliable advice for farm insurance in Canada. Our brokers are available to help you understand the terms of farming insurance. We will understand your needs and help you choose an adequate coverage as unique and comprehensive as your operation.