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Farm Insurance - Insurance Policies for Farm Owners Bixby OK

Farms are a business. As such, it is smart to ensure them. However, because of the nature of farming (and the unpredictable nature of the business), insurance can be expensive. But in the risky world of farming, a bad year can be all that stands between the farmer and bankruptcy. Therefore, getting insurance for your farm can be critical.

AAA Insurance
(918) 872-7100
6808 S Memorial Dr #208
Tulsa, OK
Alternate Phone Number
918-872-7100
Services
Insurance, Auto Insurance, Home Insurance

Mike Jennings - Farmers Insurance
(918) 492-6161
1101 N. Kalanchoe Ave.
Broken Arrow, OK
Alternate Phone Number
(918) 492-6161

Oklahoma Attorneys Mutual InsuranceCompany
(405)236-8205, (800)318-7505
P.O. Box 1255 401 N. Hudson
Oklahoma City, OK
Prices and/or Promotions
States/Provinces Served: Oklahoma

Thompson Agency
(580) 332-5181
314 S Broadway, Suite # 100
Ada, OK
 
Shelter Insurance
(580) 353-8833
1303 West Gore Blvd Suite #2
lawton, OK
Alternate Phone Number
580-353-8833
Services
Auto, Home, Life, Business

Daniel Parker - State Farm Insurance Agent
(918) 994-5400
9524 E 81st St
Tulsa, OK
Services
Insurance and Financial Services
Prices and/or Promotions
Free Quotes

D'Arcangelo Insurance Agency
(918) 858-5000
4502 E 51st ST
Tulsa, OK
Services
Insurance and Financial

Daniel Parker - State Farm Insurance Agent
(918) 994-5400
9524 E 81st St
Tulsa, OK
Services
Insurance and Financial Services
Prices and/or Promotions
Free Quotes

Ken Shelton Insurance Agency Inc. State Farm
(405) 378-0407
10901-A S. Western Ave
Oklahoma City, OK
 
New York Life
(405) 922-9418
3030 NW Expressway, Ste. 18
Oklahoma City, OK
 

Farm Insurance - Insurance Policies for Farm Owners

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Farm Insurance


Farms are a business. As such, it is smart to ensure them. However, because of the nature of farming (and the unpredictable nature of the business), insurance can be expensive. But in the risky world of farming, a bad year can be all that stands between the farmer and bankruptcy. Therefore, getting insurance for your farm can be critical.

Agricultural insurance generally covers three main circumstances:

  • Crop insurance for damaged or lost crops.
  • Property and Casualty (P&C) insurance, which provides liability coverage if a hired hand is hurt, and potential coverage for physical property. It does not usually include livestock.
  • Livestock insurance.
  • Specialized insurance coverage for certain types of farming with unique perils and challenges

Your state government is a good source of information, if you are looking for agricultural insurance. Many states actually have specialized insurance companies within state government (or sponsored through the state) that cover the unique perils for that region. For instance, farmers in California might not buy coverage for hail, because it is less common there. However, in the American Midwest, if you don't buy hail coverage for your crops, you are asking for disaster.

Further, because many regions do have unique concerns within the farming community, there are often insurance cooperatives operating in a specific region. Because these cooperatives can often offer lower prices for the same insurance, it is well worth the research. Your local farming associations will often be able to point you in the right direction.

What will it cost?


In the U.S., Congress subsidizes the cost of buying crop insurance and several states provide state-funded premium subsidies. Rates will ultimately depend on your needs, risk tolerance, insurance plans, production, and location. Remember that anything which will raise risk to the insurance company will end up costing you more. You may have to make some hard decisions between your risk tolerance, and the amount of money that you could afford to lose without jeopardizing your farming business.

Benefit's of Farm Insurance


If you are a farmer, your farm is your livelihood. It is also your business. Insuring it makes good business sense.

You have some good reasons to consider it, aside from the longevity of your farming business:

  • Government subsidies are often offered to farmers to offset a portion of the premium.
  • Increased coverage levels are offered for several crops.
  • Protection for input costs and harvest values.

Keep in mind that crop insurance may serve as collateral for operating loans. Most banks and financial institutions will want to ensure that you have some kind of insurance coverage, to protect your ability to re-pay loans.

Crop Insurance


Crop insurance does what you'd expect - it insures your crop. The trick with crop insurance is to decide what level of coverage you want. Specific levels ...

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