Farm Insurance Explained
Farm Insurance Available at Marshfield Insurance
Farms present a variety of unique insurance exposures, many of which will not be covered or not covered adequately on a homeowners insurance policy. The need for a farm insurance policy typically arises because most homeowners insurance carriers only allow for a certain number of acres and/or type of land use, won’t insure certain farm type structures and/or have low tolerances for the number and type of animals on premises.
“There are some hobby farm type insurance policies that bridge the gap between a homeowners and a farm policy for those that have a little more acreage or a limited number of farm animals,” explained Cory Hoffmann, CIC Commercial Risk Agent at Marshfield Insurance. “Farm insurance policies are required for most fully functioning dairy, livestock or custom farming operations.”
Farm insurance covers buildings used in farming operations as well as dwellings on premises.
“Make sure that you ask about coverage for weight of ice/snow on farm outbuildings,” said Hoffmann. “Feed, seed, fertilizers, harvested crops, milk, supplies, livestock and farm machinery/tools are all covered under the broad definition of farm personal property.”
Specialty coverages include: milk contamination, refrigerated milk, equipment intake of foreign objects, emergency produce/hay removal, farm loss of income/extra expense, silo collapse, custom farming, farm pollution and farm employer’s liability, to name a few.
“If you have 6 or more employees for 20 or more days during a calendar year, farm employer’s liability is no longer adequate and you will be required to provide a worker’s compensation policy,” explained Hoffmann. “Anyone who possesses a fair amount of acreage, farm type animals, large sheds/barns or farm employees should contact their insurance agent (or call us) to make sure that they have the proper coverage.”
Marshfield Insurance works with a half dozen quality farm insurance carriers and has the knowledge and resources to find a great insurance fit for most clients that have some type of farm exposure. Marshfield Insurance also supports local farmers through sponsorships during Dairyfest and Farm Technology Days.
“We appreciate the contributions that farmers make to our local food source and economy and want to do everything that we can to help protect their financial futures,” said Hoffmann.
Contact Marshfield Insurance to learn more today!
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