If you run a business in a rural area, you are most likely taking extra precautions in order to protect your operations. Not unlike most other insurance options available, farming and agricultural insurance products grant you additional peace of mind. The best part? No matter the magnitude of your enterprise, you will most likely find coverage applicable to you.
Some insurance products are, however, more popular than others. This can be due to a myriad of factors, but mostly resides in the fact that they are more required than other available options. For your agricultural needs, these are some of those popular insurance products, described in more detail.
1. Agriculture Machinery Coverage
Farming and agricultural-based vehicles are pivotal for any rural business. From combines, to seeders, to tractors, you will undoubtedly require their usage at some point. As such, you’ll want to make sure that they are not only running at their best, but are protected in the event of an accident.
Getting your hands on a farm machinery and tractor insurance product will provide you with that extra sense of security. For the most part, you won’t have to worry about what type of vehicle you have; most of them fall under most product policies. If damage occurs at any juncture, you will be entitled to monetary compensation.
2. Livestock Insurance
Insurance products that cover your livestock is just as important as farming machinery. Livestock are the basis of most of your operations, and each play their role respectively. Since you will most likely have multiple variations on your fields, such as cattle or sheep, you’ll want to get an insurance product that is all-encompassing.
Fortunately, many agricultural insurance products provide coverage for a long list of livestock. In addition, some products may even come in different formats, covering more risks to your livestock than basic options. Speaking with a local agent can help provide you with a more holistic view of which of your livestock most need to be insured.
3. Farm Produce Protection
Rounding out the trifecta of most important factors relating to rural-based operations is produce. Grain is the most popular item to fall under produce, and, subsequently, is the most requested for coverage. However, other types of produce, such as agricultural soil products or fruits and vegetables, are just as viable as well.
In the event of disaster or dangerous climate conditions, getting your hands on this type of insurance product is crucial. You may also choose to extend your coverage to insure areas such as dwellings that contain the produce itself. Running a business on agricultural grounds is difficult enough; getting the necessary protection for your produce doesn’t have to be.
4. Dwelling Insurance
Similar in vein to home insurance, this popular variation of agricultural insurance provides coverage for the various dwellings on your land. Specifically, it mostly grants you protection for your abodes such as your ranches or silos. Purchasing this type of insurance product is vital for a number of reasons.
First, it fully protects all commercial activities on your field. In addition, if you choose to house your farming vehicles inside these dwellings, you may opt to purchase an extension on this insurance product. This will give you further protection for all elements inside the dwelling itself!
5. Poultry Insurance
Despite being considered as initially part of a livestock insurance product, poultry-related insurance products are different. This is because some agricultural businesses are primarily poultry-focused; therefore, it warrants its own respective type of insurance. Thankfully, there are many types of choices available.
Depending on the size of your enterprise, you may decide to go with either a basic or elite version of poultry insurance. Inclement weather can prove to be catastrophic in certain scenarios. Protecting your flock, therefore, is paramount, and demands added safeguarding.
6. Pollution Liability
Even though some may consider this type of insurance product to be unnecessary, it still remains as popular as ever. It mainly comes down to the liability that pollution presents to farmers or agriculturalists. When farmers, for example, are transporting manure beyond their site, it must be done in a safe and delicate manner.
In the off chance that manure spills into local waterways, or through ruptured pipes, ensuring your land is protected is key. Purchasing a pollution liability insurance product covers your bases, in the event that a small leak, for example, becomes a bigger problem. Take a look at where your land is based, so you can determine what variation of this product you require.
Business owners on rural land know all too well of the potential for disaster to occur. That is why some of the most popular insurance products also prove to be the most vital. If you ever feel unsure on what you lack, always reach out to a representative for further information!