Every farm represents massive investments in buildings, equipment, and agricultural products, all of which are uniquely vulnerable to risk. Farm insurance policies are designed to protect against storms, fire, theft, vandalism, and all the other perils that agricultural businesses face. To make sure you get a policy that fits your needs, below are a few questions to ask before purchasing coverage.

A Guide to Buying Farm Insurance

What’s the deductible?

The deductible is how much you’ll be expected to pay before your carrier will start covering damages. Because higher deductibles lower the risk to the carrier, these policies typically have lower monthly premiums. Choosing a high-deductible policy can save thousands of dollars in the long run, but make sure you understand how much you’ll need to pay if you have to file a claim.

Does the policy cover my home?

Many farm owners live on the property, so the same threats that can damage your business can also threaten your home. Homeowners insurance usually doesn’t cover business property, but farm insurance often includes your residence. Before purchasing a policy, make sure that it protects your home and belongings and provides enough coverage to rebuild after a total loss.

Are my employees protected from injury?

In Texas, business owners aren’t required to carry workers' compensation insurance. However, if you don’t have it, injured employees may be able to file a lawsuit against you for damages. Including workers’ compensation in your farm insurance policy shields you from risk and ensures your employees are taken care of.

Is my livestock covered?

If you own a ranch, you may have hundreds of thousands of dollars invested in livestock. A farm insurance policy that protects against livestock losses can help soften the blow of natural disasters, accidents, or major disease. This coverage can help you keep going if something happens to your cattle, sheep, or other expensive farm animals.

Since 1962, farmers throughout the Texarkana, TX, area have relied on Barry Insurance to help protect the value of their investments. Their tailored policies can be tailored to fit your farm, so you’ll have the protection you need without paying for coverage you don’t. Visit their website for more on their commercial insurance services, get more tips and updates on Twitter, or call (903) 831-3493 to request a free quote today.