Farmers in Indiana can benefit from looking into a farm insurance policy that matches their needs. For those who are unfamiliar with farm insurance, there are a few reasons why this type of coverage is beneficial.
What does farm insurance cover?
This type of coverage can protect both the commercial interests of the farm and the owner of the farm personally. Like a typical home insurance policy, the property is covered from damage and liability from lawsuits, and other additional coverage may be extended to farming equipment, livestock, and other necessities that keep a farm running as a business. Lawsuits can be especially devastating to a farm if someone is injured by an animal or machine.
Because every farm is different, an agent who serves your area may need to visit the farm and recommend certain coverage options that are relevant to your property. Depending on the farm's location and size, there may be hazards from severe weather, watering systems and pipes, debris or falling objects, and power outages. Attached structures such as barns, sheds, silos, fences, and livestock pens may also be considered under the policy. Even plants and vegetation on the property like trees and grass may be covered, and if some of this vegetation is used as feed it can be covered while it is stored. A deductible that the owner must pay if damage occurs is usually based on the total value and amount of land and other items listed in the policy.
Farm insurance is more complex than many other types of insurance that people routinely deal with, so it can be important to talk to someone who is familiar with your land and the local area.
You can get excellent farm insurance coverage in the state of Indiana from Borman Insurance Group. To learn more, speak with an agent who serves your area today.