Think farm insurance is just for farmers with thousands of acres of corn and herds of cattle? Think again. If you have a hobby farm or a small farm or ranch, you shouldn’t rely on your homeowners insurance policy for protection. Here’s why you need farm insurance.
1. Your Homeowners Policy Doesn’t Cover Your Hobby Farm.
Most homeowners insurance policies exclude business and farming activities, meaning your hobby farm may not be covered if a storm damages farm equipment or your beehives are stolen. It might also not protect your farm structures, such as barns and grain silos, putting you at risk of having to pay for expensive repairs out of pocket. To safeguard your hobby farm, ask your Farm Bureau agent about adding coverage for incidental farming activities, or purchase a separate farm insurance policy.
2. You Need Liability Protection.
What if someone gets sick after eating eggs you sold, or an ornery goat bites a visitor? You need agriculture insurance to protect against farm-related liabilities. Depending on your hobby farm activities, the liability protection offered in a farm insurance policy might be enough. But additional policies, including product liability, could give you the coverage you need.
3. Your Coverage Can Protect Against Loss of Income.
You might not be making a full-time living from your hobby farm, but it can still hurt to lose farm sales if, say, a storm damages one of your buildings. Many small farm and ranch insurance providers offer coverage for loss of income. Farm Bureau’s Loss Control Services team can help minimize these risks. Your team will help identify hazards, develop safety protocols and provide training resources.
4. You Need Customized Coverage that Matches Your Situation.
Not all farm insurance is created equal. Your insurance needs may vary if you live on the farm, own farmland or rent farmland. Talk to your agent about which policy is right for you. He or she will ask about your hobby farm activities and income to recommend the right policy, whether you have a large or small farm. Plus, your agent will perform an on-Site SuperCheck annually to ensure everything is up to date.
Don’t Forget About Your Auto Insurance
One last insurance tip: If you’re using your vehicle for hobby farm business — even minimally — you may need additional auto insurance coverage. So, if you load up your truck for the Saturday farmers market or are considering buying a UTV to help with spreading seeds, talk to your agent about whether you need to adjust your policy.
Different Coverage for Different Hobby Farms
Whether you’re hosting goat yoga classes or growing heirloom vegetables, your hobby farm is more than just a pastime. Connect with a Farm Bureau agent today to help ensure you’re covered.