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Farm and Ranch Insurance

6 Ways to Protect Your Farm Business

Without a proper risk management plan, farmers are vulnerable to costly liabilities that could undermine their business and their livelihood. In our 100+ years of insuring farms and ranches in the West, we’ve developed a keen understanding of what it takes for a farming business to be successful.

How can farmers keep their businesses protected? In this edition of the Grange Insurance Association blog, let’s answer that very question.

#1: Consult a Professional Farm Insurance Agent

If you’re raising crops or livestock for profit, you need farm insurance to protect your property, livestock, equipment, and livelihood. Every farm or agricultural business is unique, and specific insurance needs depend on a number of factors, including the size of your property, anticipated profits, livestock, and the type of equipment used. Agents who specialize in farm insurance will understand the nuances of your farm business, and can customize your coverage to suit your unique needs.

#2: Protect Your Property

A farm insurance agent will assess the size of your property, in addition to your outbuildings and commercial structures, to best determine what coverage is appropriate.

For instance, smaller hobby farmers may think they’re adequately covered by their home insurance policy. However, home insurance isn’t always enough and people with smaller farms may need additional protection. At Grange Insurance Association, for example, we’ve designed a Country Estates Policy that meets the needs of smaller hobby farmers.

#3: Invest In Equipment Breakdown Coverage

When your farm equipment breaks down, your farming operation comes to a halt. Standard farm insurance policies often don’t cover equipment; however, equipment breakdown coverage will. Talk to your insurance agent about adding this to your policy.

#4: Assess Your Product Liability

If a product you’ve raised and sold causes injury or illness, you could be held liable. If you sell your crops or livestock for profit, you need to invest in product liability coverage.

#5: Protect Your Livestock

When you put together a farm insurance policy, you’ll want to be sure your coverage includes protections for your livestock. Our FarmPak Policy includes built-in coverages like animal collision insurance, so be sure to check with your local agent about the options available to you.

#6: Adjust As You Go

Have you recently acquired more livestock or purchased new farming equipment? Or maybe you’ve built new commercial structures on your farm. Watching your farm grow is extremely rewarding. However, as your farm evolves, your insurance needs change, too. Be sure to reassess and reevaluate your insurance needs with your dedicated agent on a consistent basis.

How Can We Help?

We started writing policies for farmers in 1894, and protecting farms is still the cornerstone of our company. If you’d like to get more information about how to keep your legacy protected, contact us or get matched with one of our local independent agents for a quote.


The content available via Grange.com is for informational purposes only and may not be used for any other purpose. Content provided or expressed on Grange.com, including that of third parties, may not reflect Grange Insurance Association’s (GIA) policies or conform to any agreement you may have with GIA and its subsidiary companies. Please contact a licensed insurance agent to obtain particular advice.

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