What Is Farm Insurance?
Farm insurance is intended to provide coverage for equipment, structures, activities, and liability associated with commercial farming operations.
While some coverage can be extended from ordinary homeowner or property insurance to limited farming activities, anything that results in significant income, includes larger resources and land, or comes with the associated risk of specialized equipment, buildings, livestock, crops, or farming activities, requires dedicated farm insurance.
This also includes cases where you are not engaged in any farming activities yourself but are leasing land to a farmer.
Without such insurance you could have to pay for damages to your own property, pay for damages to others, or suffer from loss of income.
Getting Farm Insurance
As mentioned, dedicated farm insurance is separate from normal property and homeowner insurance. Even if you do own, work, and live on a farm, you will likely already have this insurance. Farm insurance can be bundled with your home and property insurance, but its specific coverage will have to be separate. This is because farm insurance policies are highly specific and customized to the specific activities and facilities of the farm in question.
While a standard farm policy will cover property, liability, and associated costs - just like standard property and home insurance - they will also include endorsements, which can be tailored to the risks that your farm faces.
Types of Farm Insurance
Farm insurance can vary with the type of farm, including hobby farms, wineries, dairy farms, poultry and cattle, horse farms, and crop farms.
For example, for cattle farms, their livestock is important and subject to the risk of loss. This makes them candidates for insurance. This insurance can be individual for high-value animals, or blanket for all animals and associated equipment.
Other things which can be insured include:
- Structures and farm related property - These can include barns, silos, storage sheds, and pens.
- Equipment - Trucks, tractors, harvesters, irrigation, feed systems and more.
- Crops and produce - Insuring against loss of crops to pests, drought, animals, theft, and so on.
Every farm will also need liability insurance. This covers you in the case that someone is injured on your farm or because of your farming activities. This could be a visitor, employee, or someone quite unrelated to your farm (if, say, an animal gets loose and damages someone else’s property).
Furthermore, many farms require pollution liability plans. Farming activities don’t always stay within the bounds of the farm itself, and others could take exception to infringement on their property and operations. This is where coverage like pollution liability comes in.
The types of coverage listed above may not apply in certain special cases. For example, if the subject of coverage falls under another policy, if you don’t take sufficient care to forestall a slow-moving and foreseeable risk, or you are engaged in illicit or unreasonably risky activities.
What Does Haldimand Insurance Cover?
Haldimand Insurance is committed to covering many aspects of your farming business and operations. We provide insurance for:
- Farm Buildings
- Antique Farm Equipment
- Livestock Mortality
- Rural Homes
- Farm Equipment
Every farm is different, and every farm comes with a unique profile of risks that need to be assessed for an accurate and suitable policy.
- Does your farm regularly host guests and visitors?
- Do you perform any agri-tourism activities?
- Do guests and visitors have access to or regularly interact with animals?
- Does some of your farm machinery, equipment, or vehicles ever leave the farm?
- Do you perform farming activities or services for other farms?
- Do you care for the animals of others?
- Do you lease out or rent equipment or land?
- Do you conduct business at other locations, like fairs or farmers markets?
We Are Here To Help
Whichever type of property insurance you need, contact us for a free, no pressure quote
. We work with you to recognize discounts and coverage possibilities to create the best protection plan available. We work hard to bring you the best insurance at the best value.
* Special thank you to Dave Erauw Photography
for use of his red barn photo taken in York, ON