Most people are aware that protecting their belongings and property is important. After all, 93% of American homeowners have at least basic homeowners insurance. But what if your home is also your business? For many agribusinesses, finding the right farm insurance can be a challenge. You need a plan that will cover not just your home, but your farm and business as well. Here are just a few ways that farm insurance can protect you better than standard homeowners insurance.
Protects Your Home and Belongings
As is the case with most home insurance policies, your home and belongings are protected under most farm insurance plans. This generally includes both your home and the belongings inside, though plans can and do vary on what is covered. However, unlike standard homeowners insurance, most agribusiness insurance policies are much more customized and detailed. There are often more options available to pick and choose what is specifically covered under your plan because every farming business will have different needs.
Safeguards Possessions Related to Farming
In addition to your own personal belongings and home, your farming equipment and tools will also be covered. This can include anything directly related to your farming business, such as tractors, combines, planters, and other types of field equipment. Coverage will vary, but this way you’ll be able to have some peace of mind regarding the safety of your equipment. Because these expensive pieces of machinery are often necessary items for farmers to earn a living, it’s important that they’re covered by your insurance.
Keeps Your Crops Safe
What happens if your crops or livestock are harmed? With the right farm or ranch insurance, your hard work and investments will be covered as well. Coverage levels vary, but in the case of an emergency, you should be able to have some degree of compensation if your crops or livestock are damaged. This can help farmers get back on their feet after an unexpected turn of bad luck.
The right farm insurance offers many benefits that standard homeowners insurance can’t. If you want to ensure that your crops and farm equipment are protected, it’s essential to look for farm insurance instead of just homeowners insurance.