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Farm Insurance

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What is Farm Insurance?

Farm Insurance is tailored to protect various types of farms, whether they are hobby farms, leisure farms, or working farms. It’s essential for both hobby and commercial farmers to consider obtaining coverage for their most valuable assets in case something goes wrong on the farm.

Farm Insurance

What Does Farm Insurance Cover?

Farm insurance packages provide extensive coverage for various aspects of your property and operations. This includes protection for the homestead and other residential dwellings, machinery, feed sheds and their contents, as well as coverage against burglary and theft. Additionally, it covers all mobile machinery, motor vehicles, fences, loss of income, machinery breakdown, legal liability, stock in transit, working dogs, stud stock, horses, and more.

Who needs Farm insurance?

Farm insurance is essential for anyone involved in farming activities. This includes:

  • Commercial Farmers: Those who operate large-scale farming enterprises and rely on their farms for their primary income.
  • Hobby Farmers: Individuals who manage smaller farms for personal enjoyment or supplemental income.
  • Leisure Farmers: People who own farms primarily for recreational purposes but still require protection for their assets.
  • Agricultural Businesses: Entities involved in farming-related businesses, such as agribusinesses or farm service providers.

In essence, anyone who owns or operates a farm or engages in farming activities can benefit from farm insurance to protect their assets and mitigate risks.

Farm Insurance

Client Example

A farm experiences a major hailstorm that causes extensive damage. The storm results in the following:

  • Crop Damage: The hail severely damages a significant portion of the farm’s crops, such as corn and wheat, leading to a substantial loss in potential harvest yield.
  • Machinery Damage: The farm’s harvesting equipment, including a combine harvester, is damaged by the hailstones, affecting its functionality and requiring repairs.
  • Building Damage: The storm causes damage to the roof of a grain silo, leading to potential leaks and structural issues.

In this example, farm insurance provides financial assistance for the loss of crops, machinery repairs, and building damage, helping the farm recover from the impact of the hailstorm and continue its operations.

Some examples of claims that may be covered by your Farm Public Liability policy include:

  • Visitor Injury: A visitor to your farm trips over tools that were accidentally left on the ground and breaks their ankle. This incident could lead to medical expenses, pain and suffering, and potential legal action if the visitor decides to sue for damages. Your Public Liability policy would help cover the medical costs, legal fees, and any compensation awarded to the injured party, protecting you from financial loss due to the accident.
  • Property Damage: While operating your farm equipment, such as a tractor, you accidentally damage a neighbour’s property, such as a fence or a shed. The damage could result in repair or replacement costs for the neighbour. Your Public Liability policy would cover the expenses related to the damage, including repairs or compensation to the neighbour, as well as any legal costs if a dispute arises over the incident.
  • Livestock Escape: Your livestock manage to escape their enclosure or fencing and cause a car crash on a nearby road. This accident could lead to vehicle damage, injuries to the occupants, and potential legal claims against you. Your Public Liability policy would cover the costs associated with the damage to the vehicle, medical expenses for any injuries, and any legal fees or settlements required because of the accident

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