Farm Insurance

Farmers and ranchers deal in high-risk commodities, and the people who run these operations need specialized insurance coverage to help provide financial protection from events outside their control. Having appropriate farm insurance can help a farm or ranch progress toward its financial goals.

Contact Eckenrode Financial Services for a personalized quote for farm insurance today.

What Is a Farm Insurance Policy?

A farm insurance policy is a collection of coverages and endorsements tailored to meet the needs of an individual farm or ranch. Your agent will work closely with you to determine which coverages are appropriate to help protect your operation.

Depending on your operation’s risks and exposures, your agent may recommend that you purchase the following:

·        Livestock insurance helps pay to replace your livestock if lost due to a covered event.

·        Supplies insurance helps pay to replace or repair your farm’s tools, silage, feed, pesticides, grain and more if damaged or lost due to a covered event.

·        Farm equipment and machinery insurance helps pay to replace or repair your organization’s combines, irrigation systems and other specialized equipment.

Your agent may also recommend that you purchase crop insurance. Insurance providers work closely with the U.S. government to offer several types of crop insurance, including:

·        Multiple peril crop insurance (MPCI) helps protect farmers against potential revenue losses and lower yields caused by various natural events, including destructive weather, fire, drought, insect damage or disease.

o   Crop-hail insurance is an endorsement that farmers may choose to add to their MPCI policy to help provide financial protection in case their crops are negatively affected by hail damage.

·        Crop revenue insurance helps farmers by providing reimbursement if prices are low or crops have a low yield.

Your agent may recommend that you tailor your farm insurance coverages further to include:

·        Commercial auto insurance

·        Farm liability insurance

·        Umbrella insurance

·        Workers’ compensation insurance

·        Farm dwelling insurance

·        Farm structures insurance

What Is Hobby Farm Insurance?

Hobby farm insurance is a customized insurance plan designed to provide basic liability and property coverage in addition to your homeowners insurance policy.

Like farm or ranch insurance, hobby farm insurance is typically customized to meet the needs of your operation. Your homeowners insurance doesn’t cover farming activities, so it’s crucial to work with your agent to get the appropriate coverage to potentially help protect against farm-related liabilities, loss of income, theft, storm damage and fire.

How to Insure a Farm

Properly insuring your farm is crucial to the future financial well-being of your organization. Farm and ranch insurance helps provide financial protection from various problems not within a farmer or rancher’s control.

When considering farm insurance, it’s crucial to work with an agent who has a great deal of experience in this area. Together, you can build a farm insurance plan to help provide peace of mind and support your farm’s future growth.

How to Get Farm Insurance

Contact the farm insurance experts at Eckenrode Financial Services in Martinsburg, West Virginia to learn more about your farm insurance options.