Key Features To Look Out For In A Farm Insurance Policy
Choosing the right farm insurance policy is essential for protecting your livelihood and assets. A comprehensive policy should cover a broad range of risks while remaining flexible to suit the unique nature of your farming operations. Bi County Insurance & Western Illinois Title provides farm insurance in Burlington, IA, Galesburg, Stronghurst, IL, Monmouth, IL, Oquawka, IL, Biggsville and surrounding areas.
Below are important features to look for when evaluating a farm insurance policy:
- Property Coverage
Ensure the policy covers your residential home, outbuildings, barns, silos, and storage sheds. It should also protect equipment like tractors, ploughs, and irrigation systems against damage or theft.
- Crop and Livestock Protection
Look for options that provide coverage for crops damaged by weather, pests, or disease. Livestock insurance should cover death due to accidents, illness, or natural disasters. Some policies may also offer herd health monitoring as an add-on.
- Liability Insurance
This is critical in case someone is injured on your farm or if your operations cause damage to third-party property. Public liability, product liability (especially if you sell produce), and employer’s liability (if you have workers) should be included.
- Business Interruption Insurance
In the event of a disaster, this feature helps cover lost income and ongoing costs while operations are halted. It’s especially important for seasonal or high-revenue periods.
- Environmental Liability
Covers pollution or environmental damage that may arise from chemical spills, fuel leaks, or improper waste disposal—risks often overlooked but potentially costly.
- Customization Options
Good farm insurance should be tailored to your specific type of farming—whether arable, dairy, poultry, or mixed. Look for policies that allow modular coverage with optional extensions
- Risk Management Support
Some insurers offer risk assessment visits, safety training, or advice on minimizing hazards, which can also lead to premium discounts.
By carefully reviewing these features and comparing multiple providers, you can select a policy that ensures financial protection, operational continuity, and peace of mind
If you would like to discuss your specific situation or have questions, please don’t hesitate to call or email.