How does Farm Owners Insurance Differ from Homeowners Insurance?
Acquiring Homeowners Insurance is a necessary step of owning a home. Homeowners insurance is what protects both your home and belongings from unforeseen damage, theft, or disasters. It also protects your peace of mind and bank account, should any of these unforeseen events happen to you.
We have seen a trend lately, of families moving further from the cities in order to own more land or have enough property to grow their own food, own some livestock, chickens, goats, and other animals, and live the farm lifestyle.
This lifestyle often comes with barns, garages, and sheds in addition to a home. It also comes with additional equipment and assets that need protecting.
Whether you are a career farmer or a small family farm, you could be benefiting from farm owners insurance, possibly more than a traditional homeowners insurance policy.
Farm owners Insurance will cover the following assets for families or individuals living on farms.
Farm Equipment Coverage
Coverage on your farm equipment and machinery will have you covered should an accident occur. This machinery is viewed as an asset and investment in how you make a living or operate your farm for your family. For this reason, you should consider adding coverage to minimize your losses in the event of damage or theft.
Operating farms, whether big or small usually come with additional structures. Barns and stables are a quintessential and necessary asset for those operating a farm. Having your barn structure covered will help you in the event of storm or fire damage.
Just like traditional homeowners insurance, you need to insure your farmhouse. Farmhouse coverage will operate in the same way as homeowners insurance as it will cover the structure of your home and your belongings inside.
Another important asset, unique to farmers or a family farm, is livestock. With traditional homeowners insurance your pets do not fall under your coverage but with livestock insurance, you acknowledge that your livestock aren’t pets but necessary for your food supply or income.
Find The Right Coverage
Whether you are looking for Farm Owners Insurance or Homeowner’s insurance near Springfield, Ohio or even if you aren’t sure exactly what you need, Link-Hellmuth Insurance agents are standing by. As independent insurance agents we are available to help you weigh all your options for multiple insurance carriers to be sure you get the coverage that is right for your home or family farm.