Top Reasons Owners of Small Farms Need a Farm Insurance Policy

Not all farms are large commercial farms that contain hundreds of acres and a fleet of farming equipment and vehicles. A number of people operate small farms on their land, sometimes as a hobby or to generate a side income. If you have a small farm, it is important to know how important farm insurance. Some of the top reasons to purchase farm insurance for a small farm include:

Homeowners Insurance Doesn't Provide Coverage for Farms

Don't make the mistake of assuming that your small farm is covered by your homeowners insurance policy. The majority of homeowners insurance policies does not provide any coverage for farming activities. Thus, without a farm insurance policy you are out of luck if your farmland or any of your farming equipment is damaged. Having farm insurance for your small farm will give you the financial safety net that you need in case anything happens.

Liability Protection

Many people who have small farms sell items, such as eggs or produce, to friends and family or at the farmers market. If someone where to become ill after eating something produced at your farm, you can be held liable, which is why it is important to have a farm insurance policy that provides liability protection. Your insurance policy will also provide protection if a visitor to your farm is injured on your property.

Protection from Loss of Income

Since many people with small farms produce income from selling things, farm insurance is essential. Even if you are not earning a full-time income from your farm, it is still a good idea to have a farm insurance policy that provides protection from loss of income. This type of protection will ensure that you don't suffer financial hardship in the event that your farmland or equipment is damaged and can't produce the items that you regularly sell. In order to get the best protection, make sure you keep detailed records of how much income your farm earns.

Supplement to Auto Insurance

If you sell items from your farm at a farmers market on a regular basis, you most likely use your personal vehicle to transport your goods. Some auto insurance policies do not provide coverage when a personal vehicle is used for business purposes. When you have the right farm insurance policy, it can provide the coverage and protection you need when you're using your automobile for farm business. Learn more by visiting resources such as

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Understanding Business Decisions

I have always been one of those people who loves to get in there and take care of things, but when my business started to fail, I knew I had to do something. I began thinking about different ways that I could make things better, and a friend of mine told me to start learning from the pros. I began talking with every business person I could to understand the intricacies of doing business, and it helped me to take care of some problems that I had been having around the office. Although I am far from an expert, I wanted to create this blog to spread the word about great business principles.



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