The agriculture industry is an important sector in the U.S. economy. Whether you are the owner of a farm, ranch, orchard or any other agricultural business, you have specific risks that other businesses and other industries do not face. Agricultural insurance coverage is critical.
Types of Businesses Covered By Agricultural Insurance
When it comes to agriculture insurance, there are several types of businesses that are covered. This includes crop farms, animal ranches, wineries, nurseries and more. Agricultural insurance covers businesses that grow food, raise livestock and more. Whether you mill grain, own a dairy farm or ranch animals, you are a part of the agriculture industry.
Types of Risks Accounted for By Agricultural Insurance
Whether you have a large operation or a small farm, there are several risks that you may have to account for. For instance, you need to think about damages to your commercial property, injuries to staff or breakdowns of equipment.
Some common solutions cover the following:
- General liability
- Feed lots
- Business interruption
- Workers’ compensation
When it comes to your farm, you need to remain protected. If you lose your crops, your livestock or if your staff becomes injured, you have to have a way to keep going, despite the costs.
When it comes to insuring your business, you have to consider the specific risks of the industry. Farming and agriculture are no different.