People rely on farmers to deliver produce to homes and businesses on a daily basis. There is so much going on with agriculture and farming and so much that lies to chance that companies can’t help but insure their businesses as protection. There are many different agriculture and farm insurance options available and it is important that you speak with experts like Contractors Connection who have been in the business of providing Insurance for Agriculture for a long time.
Agriculture Insurance Policies
General Liability Insurance
One of the popular insurance policies for agriculture and farming is the General Liability coverage. It is an all-encompassing term meant as a financial liability protection for any type of damage that can occur to persons and property in your farm and as a result of operations in your farm. Since there are a lot of activities that go on in a farm, there are basically 4 primary types of liability for which you need to prepare. Premises Liability is for accidents that happen on your farm, like someone tripping on a tool and hitting their heads while walking in your farm. Operations liability is for accidents that happen due to implements on your farm. Implements may include your livestock that run off the road and damage people or property or if your farm equipment malfunctions and cause damage to people or property. Pollution liability is to cover you in the event that the pollutants and wastes from your farm are improperly disposed of and require a major cleanup. Product liability is for accidents that happen due to the consumption of your product, like when someone bites into your apple and breaks a tooth.
Workers Compensation Insurance
You may also require Workers Compensation insurance for settlement of damages from a worker’s injury or death. It is sometimes inevitable that someone working on a farm will get hurt or dies because of negligence or faulty equipment. When this happens you need to be prepared to pay for settlement expenses to cover medical bills, hospitalization costs and funeral benefits to the injured parties. This may not be significant if it’s just one person but if it happens regularly or there’s a major accident, your business may just go bankrupt from you trying to plug in all your profits into paying damages to injured parties. A workers’ compensation coverage helps in this regard.
Tools and Equipment Insurance
Your tools and farm equipment and produce all need to be insured as well. Your farm cannot operate if your tools and equipment are broken down or has been stolen. In order to replace them, you need a considerable amount of money so a Farm Tool Insurance policy is your salvation. Transporting your crops can also meet an accident along the way. In order to safeguard their value, you need Inland Marine Insurance to guarantee that even while they’re in transit, they still will be covered even with an accident.
As agriculture and farming insurance covers a lot of areas, you need to sit down with an expert insurance agent to get the best options for your business. Take the time to call us 1-800-307-9480 or request an online quote so we can discuss with you and offer a tailor-fit insurance package for your business.