Farm Insurance Overview
Wisconsin may be known as America’s Dairyland, but there is a lot more going on than just cows and cheese. In addition to dairy operations, farmers and ranchers across the state have made Wisconsin known for our agricultural products, including corn, soy beans, beef cattle, ginseng, cranberries, mink pelts, apples, and strawberries to name a few. Wisconsin farmers and ranchers farm over 14.3 million acres and protect their property, livestock, and hard work through farm insurance.
Farm Insurance offers coverage that will seem familiar for those with Homeowners Insurance or a Commercial Insurance policy. Farm or Ranch Insurance blends Personal and Commercial Insurance policies to create a network of coverage that is unique to every farm across the state. There can be a considerable variation in the size of farms, what products are being produced, profits, equipment, livestock, and more. At Cordova Insurance Agency, we can help you choose the right farm insurance policy to meet your needs.
Why Farm Insurance is Important
Farmers and ranchers pour their time, energy, and money into producing quality agricultural goods that are used locally, shipped across the country, or find their way into shelves around the world. These policy works to protect the investment farmers have made to build their business and continue to operate it during uncertain times. Like an Auto Insurance policy can help get you back on the road after an accident or damage, a Farm Insurance policy helps farmers keep going should the unexpected occur.
Farming is full of unexpected circumstances- ask any farmer. While an insurance policy can’t stop accidents from happening, it is designed to help mitigate some of the financial strain from operating a farming operation.
Farm Insurance Coverage
Wisconsin farms are just as unique as the Wisconsin farmers who run them. A small operation producing fresh produce is a lot different than a business with multiple employees, large farm equipment, herds of livestock, and numerous acres of fields to plow, plant, and harvest. A Farm Insurance policy starts with the most basic level of coverage and then considers the unique aspects of an individual farm or ranch. How much coverage you need and what policy extensions you may want to consider having can be influenced by:
- The size of your farm
- What livestock you have
- The farm equipment you’ve invested in
- Your farm’s particular risk factors
At its core, Farm Insurance can provide coverage for:
- Buildings
- Like a Homeowners’s Insurance policy, farm coverage can help cover the buildings on your property. These would include barns, pole sheds, and silos. Some companies also include coverage for your home, your possessions, and detached garages, outbuildings, and landscaping.
- Possessions
- The policy can help cover your possessions like a homeowner’s policy would, as well as belongings you have that are used for your business.
- Liability
- Liability is mandatory insurance coverage for farm policies. Liability includes bodily injury, medical expenses, property damage, and may help cover attorney’s fees for covered incidents.
- Machinery
- Expensive equipment like a combine or tractor may need to be individually scheduled, not broadly covered, because of its cost to replace or repair. An insurance agent can help you determine what equipment you have that may fall into this category.
- Livestock
- Income-earning livestock is covered under this policy. However, horses may be classified differently, as they are often used for multiple purposes on a farm. For example, horses used to herd other livestock could qualify for loss of use insurance coverage.
- Farm products
- Farm products do not include crops that are not covered under Farm Insurance. In this case, farm products include seed (not in the ground) or feed for livestock.
Farm Insurance may also offer coverage for damage caused by falling objects, the weight of snow or ice, burst pipes, power surges, or fire. There are exclusions for fire coverage, which should be carefully looked at to know if you are covered. Additionally, insurance extensions may be needed to cover fencing, portable structures, or other perils that aren’t automatically covered by the Farm Insurance policy.
Farmers with three or more employees are required to obtain Workers Compensation Insurance if employees work 20 or more days during the year.
Areas We Serve
The Cordova Insurance Agency is located in beautiful Merrill, Wisconsin. We serve Merrill, Wausau, Tomahawk, Minocqua, Woodruff, Wausau and surrounding areas. We know that picking the right insurance company is incredibly essential for farmers, no matter where in the state you operate.
We work to give our customers the insurance products that meet their needs through our highly qualified insurance agents and numerous partner organizations. We offer customized insurance quotes as well as consultations, claims processing, policy recommendations, and more.
Related Policies
A Farm Insurance policy can cover a lot of ground, but it isn’t the only insurance policy you might end up needing. Farmers often have a work truck or other vehicle used for commercial purposes while doing their job. In this instance, a Commercial Auto Insurance policy would be beneficial. Whether you are taking your products to a local farmers’ market or moving livestock in a trailer, your vehicle is working just as hard as you are and deserves insurance protection.
Final Thoughts
Farming isn’t just about the final product, packed up and packaged; it’s about the early mornings, the hard work, and minute-by-minute operations that take nothing and make it into something. Insurance isn’t just about protecting farmers but also about preserving the equipment, buildings, products, and employees needed to keep the world fed. Cordova Insurance Agency can help keep Wisconsin farmers insured through the right Farm Insurance policy.
To learn more about Farm Insurance, contact Cordova Insurance Agency at (715) 536-9576. Our licensed agents will be happy to answer any questions you have.
