Farming is a very challenging business. Today’s farmers need more assets to operate than ever before, with more expensive equipment, hands on deck, and dedication required. These farms also have much more potential for liability. From trucks and tractors to devastating weather conditions, there are potentials for huge losses for your farm if something goes wrong. Fortunately,farm insurance in Copake, NYis there to help.
As a tool for risk management, as well as bringing valuable peace of mind, farm insurance allows you to insure against losses that may occur due to unexpected events. Farmers have a unique job, so a standard business insurance policy simply won’t do. Instead, farmer’s need to craft coverage to their farm to protect their livelihood. As expected, it is important to have an agent familiar with this insurance so they understand the different challenges.
Similar to a standard home insurance policy, farmer’s insurance provides basic liability protection. It covers bodily injury, medical expenses, and property damage, should anyone get injured or their property damaged while on the premises. It’s important to remember that even under the most strenuous precautions, accidents can occur.
This portion of the coverage can typically be broken down into three categories: farm machinery and equipment, livestock, and farm products such as seed, silage, animal feed, fertilizers, and pesticides. You can choose to scheduled individual items under a separate endorsement.
Coverage protects the policyholder from financial loss or damage of their machinery and equipment due to covered perils, such as fire or theft. From trackers, combines, planters, hay rakers, and more, your equipment is likely to be needed every day – so it is well worth protecting it. For high-value items, such as top-of-the-line tractors, they may need to be scheduled for separate coverage.
Feed, grain, seed, and similar products are covered by farmer’s insurance while they are stored. Crops growing on the property and seed that has been planted are not generally covered.
We understand the unique insurance needs of farm owners. Your farmer’s insurance in Copake, NY needs to not only protect your home but your livelihood as well. Allow our farm owners insurance specialists to guide you in safeguarding your most important investment.