Farm Insurance Combines Home and Commercial Coverages

A commercial agriculture operation is a unique circumstance among businesses in that it often doubles as a home for one or more families and hired hands. And commercial agriculture insurance plans can provide a combination of insurance coverages to address those unique situations.

For insurance purposes, a commercial agriculture is much more than the typical home with a barn on several acres used for growing crops or raising livestock. For insurance purposes, a commercial agriculture is defined as one of many commercial planting and other operations, such as a ranch, dairy, vineyard and winery, nursery and other commercial operations. A good commercial agriculture insurance policy will provide comprehensive coverage for a variety of perils and needs given how many such operations have widely varying capital assets, commercial output and other factors.

Some types of commercial agriculture insurance policies might include a farm and ranch owners plan, equipment breakdown insurance, dwellings coverage and a high level of liability insurance. And because commercial agriculture operations vary greatly, the coverages can be tailored for each, making standardized coverages and pricing difficult. But commercial agriculture insurance plans are comprehensive in nature and can have very high coverage limits to reflect the unique needs and dangers of farming operations.

Family farms and ranches are the most typical of properties and commercial operations needing commercial agriculture insurance coverage, but other types include estates and horse farms, which can obtain mortality coverage for prized stock. Large commercial growers and those who handle and pack produce and other agricultural products also can benefit from commercial agriculture insurance plans.

Other commercial operations that can get such insurance plans are wineries, including their rooms for sampling products, field growers and grain producers, citrus growers and other orchardists, cotton growers, commercial nurseries, and cattle, sheep and other livestock. Liability insurance is a major concern for commercial agriculture owners and operators of all types and varieties.

Not all farms are family-owned, and many commercial agriculture operations occur on rented lands. Farm insurance plans can help protect crops, livestock and equipment even on rented land as well as the liability insurance coverage needed to make sure a commercial agriculture operation is not bankrupted in the event of a truly tragic accident that might take one or more lives or leave one or more workers injured or crippled.

Commercial agriculture insurance coverage can be had for scheduled and unscheduled personal property, commercial agriculture buildings and structures, personal and commercial agriculture liability, and medical payments to others, among the many types of commercial agriculture insurance coverages available from insurance firms like State Farm, Farmers Insurance Co. and The Travelers.

For farms with homes and other dwellings, insurance coverage can be had for household personal property, loss of use if the structure somehow is made uninhabitable and others. Household personal property might insure such items as appliances and personal property, such as clothing, jewelry, audio and video gear, furnishings and other personal belongings. Some types of coverage might replace items at cost or have a depreciation value assigned to damaged or destroyed items. By Mike Heuer