The Best Options for Farm and Crop Insurance

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If you are one of the individuals that operate a farm then you are living a life of great serenity and good, honest labor. Running a farm can be very rewarding and enriching to you and your family. However, as you know, when you own a farm it is not all playing with cute animals —and I am not even talking about all the physical demands and hard work a farm takes. I am talking about making sure that your farm and crops are protected properly in the event of a disaster or peril that leaves your crops in disarray and your livestock injured or dead. With the use of an excellent farm and crop insurance plan, you can protect yourself.

How a Farm and Crop Insurance Plan Will Benefit You

Having any insurance plan is a great benefit to anyone; whether they own a home or run a business. When you run a farm these two things are one in the same, your farm is your business and your home all located in one location. Though this provides many great benefits, it can still be rather dangerous to have your shelter and sources of income so near each other. This is why it is so important to have insurance for your farm. Having proper insurance will make certain that your business and personal needs are met in the case of a disaster or peril.

Crop Insurance: Making sure that your Crops are Well-protected

Getting adequate crop insurance is one of the most important things you can do when looking for insurance for your home. Your crops are essential for the running of your farm; these are what you use to sell to make a profit. You can get insurance for your crops for two different things: the loss of your crops due to a disaster like droughts and floods (this is covered by crop-yield insurance) and also a financial insurance for the loss of income due to a decrease in the agricultural commodities (this is covered by crop-revenue insurance). More specifically crop-yield insurance will either protect you against multiple perils in one umbrella policy, or you can gain a specific policy meant just for hail. Hail has its own policy because it is an isolated occurrence and can cause great damage the farming economy. Crop-revenue insurance is what will protect you from a loss of income due to a discrepancy between the crop-yield and crop-price. All of these different insurance types are important for you to consider because they will help you properly protect your crops and by extension your farm and your own business and private expenses.

Livestock Insurance: Taking Care of All Your Animals on your Farm

The other main important type of insurance you can get for your farm is a livestock insurance policy. When your farms deals with the up keep of any type of livestock, it is important to make sure that their deaths and mortalities are properly insured. In order for you to be able to gain insurance on your livestock, they must be classified as farm animals. This means that you are raising them for profit and are so using some or all of them for a purpose such as their meat, their wool or fur, and/or their milk or eggs (dairy products). Another way to have your livestock be eligible to be insured is if you are using them to benefit the up keep of your land, such as using their manure for fertilizer, having them graze on your land to ensure its proper growth, and/or using certain animals for physical labor like plowing. If your livestock meets any of these criteria then you will be able to be covered with an insurance plan. Livestock insurance will provide you with a financial subsidy in the event that the animal dies suddenly due to an accident or disaster and also an ailment or sickness. Certain policies will even cover you in the circumstance of government interference, like the forcing of vacating of property.

 

To learn more about crop insurance contact David Hirth at 507-359-8989