Common Mistakes People Make When It Comes To Farm Insurance


If you own a farm, you should probably think about purchasing farm insurance if you do not already have this insurance product. Unfortunately, many people make mistakes when it comes to purchasing farm insurance. Here are a few common mistakes that you need to be aware of in regards to farm insurance and the ways you can avoid these mistakes. 

Thinking Their Home Insurance Covers Their Farming Business

One of the most common mistakes that people make when it comes to farm insurance is thinking their home insurance covers their farming business, including their crops. Some home insurance policies will cover your farming land when it is not being used for-profit. However, if you are selling the crops you grow, your land is not covered by your home insurance policy. In addition to this, a typical home insurance policy will not cover items such as barns, silos, or farming equipment. A farm insurance policy may cover these items so purchasing the right type of policy is important. 

Assuming Farm Insurance Covers Livestock

Another common mistake that people make when it comes to farm insurance is assuming farm insurance covers their livestock. Farm insurance can cover many things, but livestock is not one of the items that this type of policy can cover. If you have livestock, you must purchase a separate livestock insurance policy. Livestock insurance is partially funded by the United States Department of Agriculture, which requires a separate policy for livestock versus crops and land. 

Not Selecting the Correct Farm Insurance Endorsements

The last common mistake people make when it comes to farm insurance is not selecting the correct farm insurance endorsements. You must specify in the policy which endorsements, or types of coverage, you need, based on your specific farm. Some people simply need crop and land coverage, while other people need this type of coverage in addition to farm building coverage, farm equipment coverage, and/or farm machinery coverage. Each type of coverage is its own endorsement. You need to ensure you have the endorsements you need and none of the ones you don't need. 

It is important that every farm owner purchase farm insurance and then select the endorsements that are needed to cover the specific farming equipment, buildings, and crops that they are growing. If you are in the market for farm insurance, visit a website like http://www.wrg-ins.com/  where you can find help understanding the do's and don'ts of buying farm insurance and ensure you have the right amount of coverage for the policy you are purchasing. 

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Finding Your Space: Tips For Commercial Property Seekers

One of the most challenging parts of starting a new business is finding the perfect business space. I spent a very long time looking for the right storefront and discussing commercial lease terms with my real estate agent before I finally found the one that worked for my needs. I had no idea there were so many things that a business owner had to consider when looking for space. This blog is my way of helping other first-time commercial property seekers to understand the many options and considerations for getting into the perfect storefront. If you're getting ready to expand, I hope this helps you, too.

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