If you have land on your property that you use for farming, you may think that you don’t need additional coverage if you don’t farm commercially. But the answer to that depends on your specific situation. Let’s take a look at what may be some common risks for small and hobby farms.
The coverage you need for farm property is typically based on how much land you use for it, and what those activities encompass. If you have a farm that is used primarily for enjoyment and not as a profit source, you likely have a “hobby” farm. It is unlikely that your home insurance policy properly covers your hobby farm, and you should discuss the additional options for your coverage. A farm insurance policy may be the best option, and
If you do any farming, you probably have equipment that you utilize for the work. If you have a “blanket” farm policy, your equipment may be covered. But not all farm policies offer blanket coverage, and even if they do, the limits may not be high enough for what you need.
Even with one cow or just a few chickens, you’re adding to your risk by having livestock. And while you may not need expanded coverage like a Livestock Risk Policy, you may be able to add an endorsement for livestock coverage onto your farm policy.
Have a pumpkin patch, corn maze, apple picking, etc. as activities on your farm? If you allow visitors onto your property – even for a small window of time – you should consider the liability you may incur should someone get injured. And although you may take the necessary precautions for safety, accidents happen. Small Farm Insurance may be the answer here, and the parameters of your use will determine the coverages you need.
Let us help you review the risks of your farm and help you understand the options you have for coverage. Contact Brandon Patterson at 865.453.1414 or firstname.lastname@example.org