• The first step in determining the proper farm insurance coverage can determine whether your property is a home or a ranch. The distinction matters because somethings may be covered in one policy and not in another. A standard farm insurance policy is a combination of the standard coverage you receive from a personal homeowners’ insurance policy and pair with commercial property and liability coverage. The beauty of a farm insurance policy is the ability of every insurer to customize their coverage to best suit their situation.

    Need help to determine whether you need a standard homeowner’s policy or a farm policy? Does the following apply to your property?

    • Aside from a pool house and a garage, are there other structures on your property, such as a stable, barn, or equipment facility?
    • What kinds of animals are on the property and who has ownership?
    • Do you have horses?
    • Do you have employees working on your property, such as caring for livestock, feeding horses, maintenance, etc.?
  • The answers to the above questions should give you a general idea of whether a standard homeowners policy will be enough coverage for your property, or if you need a farm insurance policy, too. A typical homeowner's coverage allows for limited incidental business-coverage, with particular limits set according to policy conditions. However, if your building is exceeding those limits, then your property can be viewed as a commercial building and may not be covered under a standard homeowner’s policy.

  • For more information or if you have questions about the right insurance coverage for your property, contact one of our insurance agents today!

  • Insuring Horses

    If you have horses on your property, be aware that the State of Illinois has equine liability laws, requiring state-specific signs that warn visitors that horses are dangerous, and if you visit the property, you assume the risk of a participant, not a spectator. These signs are generally posted throughout the stables and riding areas.

  • An equine liability release waiver is a useful risk management tool that offers the property owner protection when someone chooses to ride or board horses on your property. You should have an attorney review this waiver every year, due to state laws changing from year to year. A waiver should incorporate safety regulations, necessary gear, and prohibit children from entering the area without a parent or guardian present.

  • Fencing

    A significant distinction between a farm insurance policy and homeowner’s policy – standard farm policies don’t cover fencing. Many people choose not to insure fencing due to the cost of coverage for a rare incident. Tornados are about the only incident that could accrue that much damage. However, electronic gates are relatively more expensive, and owners may want to insure them.

  • Barns and Additional Buildings

    Having your insurance agency survey your grounds of all structures and activities that are present on your property is the best way to ensure your coverage is ideal. If they can’t physically see the property, consider drawing them a detailed diagram. Remember, your insurance agent is the expert – the more information they know, the better your coverage can be.

  • An important reminder, farm property contents such as a tractor, aren’t insured under farm and ranch policies, the way a homeowner’s insurance policy works. For example, a homeowner’s policy covers the lawnmower and tools in your shed, but a farm policy won’t cover your John Deere tractor…unless it is notated explicitly in your coverage. When it comes to a farm insurance policy, if a structure isn’t listed on your policy, then it isn’t covered. The building AND its contents need to be listed on your farm policy to ensure it is protected.

  • What a Farm Insurance Policy Covers

  • Protect your personal property that is directly involved in your farming operation with the right farm and ranch insurance coverage. A farm insurance policy can be separated into three categories: farm machinery/equipment, livestock, and farm products. Most commonly, farm insurance coverage allows for policyholders to select broad coverages throughout the three categories, and schedule individual terms, choosing the best coverage that works for you and your property.

  • Farm Machinery and Equipment

    Farm machinery and equipment coverage protect you from property damage that happens to your machinery and other equipment and any financial loss that occurs as a result. Tractors, planters, hay rakers, cotton pickers, combines, and virtually every other piece of machinery falls under this coverage. If you utilize a truck to transport your crops, equipment, etc. bundling a commercial auto insurance policy could help save you money with your overall premium! Also, portable irrigation equipment and portable structures can be covered, as well.

  • Livestock

    A standard farm insurance policy offers broad coverage of livestock in case of an injury, or worse as a result of an event that is covered. However, you can buy specialized coverage to enhance the protection of your animals for things like an accidental shooting, hit by a vehicle or train. Some coverage options also include protection from attacks from wild animals, flooding, and earthquakes.

  • Farm Products

    Farm insurance helps protect your farm products such as feed, grain, seed, and other similar items. However, these products are only covered while they are stored. When they are planted in the fields, a commercial insurance policy has to assume coverage for your planted crops.

  • Farm Liability Coverage

    Like a homeowner’s insurance policy, farm and ranch coverage provides liability protection. Liability protection is mandatory for every farm insurance policy due to the potential risks at hand. Liability coverage protects you from costs of bodily injury, medical expenses, and property damage. It also covers attorney’s fees.

  • Accidents can occur at any time and are unpredictable. Even farmers who have years of experience can hurt themselves operating machinery. An animal could get startled and injure a handler. Furthermore, if you have an animal that escapes and causes an accident – as the animal’s owner, you are liable.