If you’re a farmer then you know just how much work goes into keeping up your farm. But did you know that you need a specific form of farm insurance protection to keep your property and products protected? If you’re not a farm insurance expert, then check out these 3 things you should know about farm insurance coverage:
Hobby farms and farming for profit require different forms of farm insurance coverage.
If you’re not farming for profit, then you may need hobby farm insurance. However, there are specific guidelines that hobby farmers must follow for hobby farm insurance, these include:
- Coverage for a single location
- Less than 500 acres
- No employees
- Annual farm receipts limited to less than $10,000
- Minimum home insurance coverage of 125k for the main dwelling
If you have livestock, you need a specific form of livestock coverage.
Not all farm insurance coverage is right for every farmer. If you have a ranch or other important livestock on your farm, then you need to ensure that your farm insurance policy provides coverage for your livestock.
There are certain types of home insurance that provide coverage for your hobby farm.
If you’re a hobby farmer, then you may not need farm insurance coverage at all. Hobby farmers may find that their large garden and/or small-scale farms are protected under their standard home insurance coverage. However, if you farm for profit, you need specific forms of farm insurance coverage.
At Beck Insurance Agency we’re an independent insurance agency that severs farmers in Defiance, OH, Whitehouse, OH, Archbold, OH, Montpelier, OH, Wauseon, OH, Perrysburg, and the surrounding areas with farm insurance coverage. Understanding that your unique needs differ from other farmers in the area, our agents work with you to find the right carrier and the right policy that fits your unique needs.
With a history of serving our community dating back to 1948, we’ve upheld a legacy of excellence and unmatched customer service that outweighs our competitors. Contact us today to get a quote and learn more about farm insurance for your Ohio farm.
