Articles Editor's Blog Reader Mail

Farm Insurance - Insurance Policies for Farm Owners Hayden ID

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.

Landers Insurance
(208) 651-6208
1218 E. Sherman Ave.
Coeur d Alene, ID
Services
Auto Insurance, Health Insurance, homeowners insurance, life insurance, and Commercial Insurance

Insphere Insurance Solutions
(208) 691-4569
Alpine Dr
Post Falls, ID
Alternate Phone Number
208-691-4569
Services
Health, Life, Supplemental, Medicare

Threeriversagency.net
(208) 322-2445
10159 W OVERLAND RD
BOISE, ID
Services
car insurance, auto insurance quote, vehicle insurance

Brunson Insurance
(208) 234-2727
1177 Call Place suite C
pocatello, ID
Alternate Phone Number
208-540-0817
Services
Farmers, foremost, bristol west,
Prices and/or Promotions
Free Quote! auto, home, life.

Northwestern Mutual Financial Network
(208) 947-5238
1111 West Jefferson Street
Boise, ID
Services
Insurance, Investments and Retirment Services

Family Home Care & Hospice
(208) 772-2112
1620 Northwest Blvd., Suite 201
Coeur D Alene, ID
 
Family Home Care & Hospice
(208) 772-2112
1620 Northwest Blvd., Suite 201
Coeur D Alene, ID
 
The Insurance Center
(208) 785-6661
745 W Bridge St Ste J
Blackfoot, ID
Services
Insurance agent, Insurance agency, Auto Insurance, Car Insurance, Health Insurance, Homeowners Insurance, Life Insurance, Business Insurance, Dental Insurance, Farm Insurance, Investments, Liability Insurance, Medicare Supplements, Mobile insurance, Manufactured Homes Insurance, SR22 Insurance, Vehicle Insurance, Annuities

Pacific Crest Sevices, Inc.
(208) 938-4197
450 W State St
Eagle, ID
Alternate Phone Number
208-938-4197

Silver Key Insurance Boise
(208) 855-9099
10588 W Business Park Lane
Boise, ID
Services
Personal Insurance, Home Insurance, Auto Insurance, Small Business Insurance, Life Insurance
Prices and/or Promotions
Free Insurance Quotes

Farm Insurance - Insurance Policies for Farm Owners

Provided By: 

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 ...

Click here to read the rest of this article from Insurance Guide 101

About Us | Contact Us | Link to Us | Privacy Policy | Terms of Use | Insurance Resources | Sitemap