Covering Small to Mid-Sized Companies, Large Businesses, and Self-Employed.
Few people understand the complexities of the agricultural industry —the long hours, the big risks and sometimes bigger losses, the labor…
Tapped with the responsibility of feeding America and beyond, the California Central Valley farming industry is anything but small potatoes.
Located in Tulare, CA—home to the World Ag Expo—Tigner Insurance & Associates understands the challenges farmers, packers, dairymen, and other hard-working ag businesses face when it comes to protecting their equipment, workforce, and more.
And not just because it’s in our backyard. Tigner Insurance & Associates President Mark Tigner has specialized in insurance plans tailored to agricultural businesses since the company’s inception in 1992. A graduate of California State University Fresno in Agricultural Business, Mark has a deep understanding of the complexities of the agricultural industry—and the insurance protections necessary to safeguard the livelihoods of ag businesses large and small.
With decades of experience creating customized insurance plans for everyone from the small farmer looking to protect his loved ones and legacy, to the large-scale producer needing group insurance coverage for his hundreds of employees, Tigner Insurance & Associates has you covered.
If you’re in the agriculture business, Tigner Insurance & Associates can help.
Farming is not just a way of life but an essential part of our ecosystem and economy. While it’s a rewarding profession, it also comes with unique challenges and risks. Farm insurance is a critical consideration for those in the agricultural sector.
This blog post will outline the importance of farm insurance, how it works, and what you need to know about protecting your livelihood. Find insurance that suits your lifestyle, whether you have a hobby farm or a large agribusiness.
What is Farm Insurance?
Farm insurance, also known as agricultural insurance or farm liability insurance, is a type of insurance coverage specifically designed to protect the livelihoods of farmers and ranchers. This insurance policy covers the unique hazards that farms and ranches face, often not covered by a standard homeowners insurance policy.
This specialized insurance can cover your home, farm structures, machinery, equipment, livestock, and even the personal liability associated with farm and ranch operations. Farm insurance can protect you and your business, whether you have a commercial operation, a family farm or ranch, or an estate farm.
Why Get Agriculture Insurance?
If you own or operate a farm, your financial health is likely tied up in your farming operations. A loss, whether from natural disasters, illness among your livestock, or damage to your equipment, can have catastrophic consequences. Farm or ranch insurance provides a safety net against such losses.
You may need insurance protection beyond a standard homeowners policy when your home or livelihood is tied to farming or ranch operations. Farm insurance can protect you, your family, and any employees from physical damage to property or liability claims.
Protect Your Investment
Farmers invest significant capital in their farms, from buildings and machinery to livestock and equipment. Farm insurance can protect these investments, helping you recover financially from unexpected losses that could otherwise be devastating.
Manage Potential Liability
As a farmer, you can face liability issues from various sources, like injuries on your property, damage caused by your livestock, or even pollution caused by your farming activities. Farm insurance protects you from legal claims, giving you peace of mind.
What Does a Farm Insurance Policy Cover?
Farming is a venture fraught with risks. Many elements are outside of a farmer’s control, from the unpredictability of weather patterns to the susceptibility to disease among livestock. That’s where farm insurance comes in, providing a much-needed safety net. But what exactly does a farm and ranch policy cover? Let’s delve into the details.
Buildings and Structures
Farm insurance protects various buildings and structures associated with your farms, like barns, silos, sheds, and stables. The coverage options guard against numerous risks, such as fire, wind damage, and vandalism, aiding with repair or replacement costs in a disaster.
Farm Personal Property
Personal property coverage is integral to farm insurance, protecting the tools and assets vital to your operation. It covers a broad range of property, from farm machinery and equipment to livestock and everything in between. This coverage protects against damage, theft, accidents, and other perils that disrupt farming activities.
Farm Liability Coverage
Farm liability insurance provides a layer of financial protection if someone is injured on your farm, if your livestock damage other people’s property, or if there are issues with products sold from your farm. This helps safeguard you from legal claims, allowing you to maintain your farming operations without worry.
Additional Coverage
Farm or ranch insurance policies also offer a range of optional coverages tailored to your specific needs. These include business interruption coverage (for lost income due to a disaster), equipment breakdown coverage, and farm pollution liability. These additional protections can provide a comprehensive safety net for your farming operations, adding further peace of mind.
How Much is Farm Insurance?
The cost of farm and ranch insurance can vary greatly depending on several factors, including the size of your farm, the type of farming you do, the value of your scheduled farm equipment, the number of employees you have, and your location.
Purchasing an insurance policy for a hobby farm will generally be less expensive than a commercial grower and packer policy. It is possible to customize your policy according to the scale of your operations, whether big or small. Getting a quote from an insurance provider specializing in farm insurance is best to get an accurate cost.
Will My Homeowner’s Policy Cover My Estate Farm or Hobby Farm?
A homeowner’s policy might provide limited coverage for certain farm-related risks, but it is typically insufficient for a fully operational or hobby farm. A farm insurance policy is designed to cover the broad range of exposures associated with farming activities that a homeowner’s policy usually does not.
Do I Need a Farm Policy for a Few Chickens or 4H Animals?
Even a small-scale or hobby farm can have risks that a homeowner’s policy won’t cover. Consider a farm insurance policy if you’re raising animals, even on a small scale. Some companies offer policies specifically tailored for small or hobby farms.
Do I Need Farm Insurance to Lease or Rent My Property for Farm Operations?
If you lease or rent your property to others for farming, you should consider farm insurance. Your exposure to risk doesn’t end when you rent out your land. For example, you may still be held liable for injuries on the property or environmental damage resulting from farming activities.
Final Words
Farming is a demanding yet rewarding profession. While each day brings the satisfaction of hard work, it also brings the uncertainty of natural calamities, market fluctuations, and potential liabilities. You can protect your agricultural investments and livelihood with the right farm insurance policy.
Farm insurance is important in securing your farm’s and your family’s future. While we cannot prevent unforeseen circumstances, we can prepare for them. The old adage goes, “An ounce of prevention is worth a pound of cure.” This certainly rings true when it comes to protecting your farm.
As you continue to nourish the land and provide essential resources for our communities, take the necessary steps to safeguard your farm, assets, and peace of mind. Ensure your livelihood with farm insurance, and reap the benefits of security and assurance in your farming journey.
