A lot of dreadful things can happen on your farm and ranch. Carriers underwrite farm and ranch insurance, so that you can operate without worrying about the unexpected. In this discussion, you will learn:
What is farm and ranch insurance
Policies you can avail in farm and ranch insurance
How much premiums cost
Where to get the best ranch and farm insurance
Farm and ranch insurance is an insurance product that’s composed of different business insurance policies that cater to risks farm and ranch owners face such as property damage, liability claims, livestock and crop loss, and equipment breakdown.
In connection, policies you can get from the farm and ranch insurance of most insurance companies are:
Farm and ranch liability insurance
Farm and ranch property insurance
Commercial auto insurance
Trailer insurance
Trailer interchange insurance
Workers compensation insurance
Inland marine insurance
Farm and ranch liability insurance protects your farm and ranch against claims for bodily injury, property damage, pollution, defective products, and more. We further classify this as:
Premises liability insurance
Product liability insurance
Pollution liability insurance
Umbrella liability insurance
Accidents can happen on your farm and ranch. For example, a health inspector can slip and fall while checking. If the accident resulted in bodily injuries or property damage, your farm and ranch must grant indemnification for pain, suffering, and financial loss.
Farm premises liability insurance will help you sort things out without endangering your financial reserves.
Premises liability insurance will take care of these costs if an invitee or licensee files a claim and cites that your farm and ranch’s environment caused bodily injuries or property damage:
Medical payments
Reimbursement for property damage
Settlements
Defense costs
Court judgments
So how much coverage can you get from premises liability insurance? This insurance provides $5,000-$15,000 medical payments coverage. You also get $300,000-$2 million coverage for each claim for bodily injury or property damage.
Product liability insurance is another important liability coverage for your farm and ranch. This will help when:
Wholesalers file a claim because the meats, fruits, vegetables, and other products from your farm and ranch caused a foodborne disease
Wholesalers file a claim because the products of your farm and ranch were incorrectly packed or labeled
Wholesalers file a claim because the products you handed to them were substandard
So what costs does the policy cover? Farm and ranch product liability insurance provides the money you can use to:
Medical treatment of parties who sustained a foodborne disease because of your farm’s products
Settlements
Defense costs
Court judgments
You can add a product recall and contamination coverage to product liability insurance so that it will also pay for:
Product recall costs such as worker overtime pay, reimbursements, shipping, disposal, and business interruption
Cost for decontaminating farm equipment and machinery that got infected or caused the foodborne illness or disease
Your farm and ranch uses herbicides, pesticides, fertilizers, and other hazardous chemicals. Animal and plant wastes are also handled.
Your farm and ranch can cause pollution. And so, consider getting pollution liability insurance. Use this when:
An employee is transporting waste using the tractor. An accident happens that results in waste spill-over
The agricultural tanks of your farm and ranch leak or explode and kill wildlife
Fertilizers, herbicides, and pesticides from your farm and ranch run off to a nearby river, killing the fishes and causing skin diseases to those who contact it
Your farm and ranch have poor waste management and disposal methods. As a result, nearby households got sick due to the odor
In connection, your farm and ranch can use pollution liability insurance to take care of these expenses:
Claims for bodily injury as caused by the pollution
Claims for property damage as caused by the pollution
Pollution containment
Clean-up costs
Settlements
Defense costs
Court judgments
Pollution liability insurance, which you can also find in dairy farm insurance bundles, has a minimum $500,000 aggregate and per occurrence limit. The maximum coverage you can get from the policy is $1 million-$1 billion per occurrence and aggregate limit.
Umbrella liability insurance doesn’t protect your farm or ranch against any perils or claims. The function of this insurance is to provide an additional layer of coverage to any liability policies you purchased. Here’s an example for you to understand:
Your farm and ranch caused pollution. Someone filed a claim and demanded a $2 million settlement. Your pollution liability insurance only has $1 million and is short of funds. In this case, umbrella liability insurance will account for the excess $1 million. And so, you sort things out smoothly without incurring losses.
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Farm and ranch property insurance covers the assets of your farm and ranch, such as livestock, equipment, buildings, installations, and others.
Think of this as commercial property insurance that’s solely underwritten for businesses in agriculture. These are the common coverages you can get from farm and ranch property insurance.
The equipment, barn, machinery, equipment, livestock, supplies, and machine sheds are valuable assets. Farm and ranch personal property coverage will reimburse your loss if these become damaged or lost due to:
Fire
Theft
Vandalism
Malicious mischief
Riot
Civil commotion
Aircraft
Vehicle
Sinkhole collapse
Volcanic action
Lightning
Hail
Snow
Winds
Rain
Livestock insurance is an additional layer of protection for the cattle, pigs, and other livestock on your farm and ranch. This functions to recover financial losses due to livestock damage or death due to:
Accidental shooting
Attacks from dogs or wild animals such as wolves, snakes, and others
Disease
Fire
Flood
Theft
Loading and unloading accidents
Negligence
The livestock insurance of your farm and ranch doesn’t cover animals owned by others but is currently under your watch. You can solve this gap by introducing care, custody, and control endorsement, which is a common inclusion in dairy horse business insurance bundles.
Crop coverage is an inclusion in farm and ranch property insurance that covers losses if the vegetables, fruits, and other crops on your farm wither and die due to:
Frost
Hail
Wind
Drought
Fire
Flood
Insect damage
Note that crop coverage only applies to crops in the field. Any harvests in-store that get damaged are excluded in the terms of the policy.
The razors, plows, seeders, tractors, harvesters, and other equipment are never cheap. To protect your investment, insurance companies include equipment coverage in their farm and ranch property insurance.
Farm and ranch equipment coverage will cover expenses for repair or replacements if tractors, harvesters, and other equipment become damaged or lost due to:
Operator error
Impact
Mechanical breakdown
Electrical surge
Electrical shorts
Theft
Floods
Understand that the equipment coverage for your farm and ranch excludes damage or loss due to wear and tear, war, theft, earthquakes, and transit.
Income coverage helps you keep losses at bay while your farm and ranch isn’t generating income due to a disaster such as:
Swarms
Drought
Flood
Storm
Fire
So what does this do? While your farm and ranch isn’t generating the usual income, farm and ranch income coverage will provide the money you can use to cover payroll, mortgage, taxes, loans, supplies, utility bills, and other operational costs.
Sometimes, you need to transport farm equipment through a truck or automobile hauler. The insurance that provides protection during such a situation is inland marine insurance. Inland marine insurance will reimburse your losses if farm equipment becomes lost or damaged during the trip due to:
Error
Theft
Loading and unloading accidents
Vehicular accident
Fire
Commercial auto insurance covers perils associated with the use of farm hauling tractors, trucks, ATVs, and other motorized vehicles for farms and ranches. This policy provides the following:
Auto Liability Coverage
Auto liability coverage will take care of costs if the tractor, truck, or ATV of your farm and ranch causes a vehicular accident that results in the death or property damage of victims.
This allows you to pay the medical treatments and reimburse damaged properties. Auto liability coverage grants a minimum $25,000 coverage per bodily injury and $50,000 coverage per property damage.
Note that auto liability coverage will also account for defense costs and court judgments if the victims decide to sue.
Physical Damage Coverage
Physical damage coverage will take care of costs if unfortunate circumstances damage the tractor, truck, or other motorized vehicles of your farm and ranch. You get this as a:
Collision coverage-Collision coverage will take care of parts repair or replacement expenses if the tractor, truck, or other motorized vehicles of your farm and ranch sustains damage due to a collision with an object or another vehicle
Comprehensive coverage-Comprehensive coverage will cover parts repair or replacement if fire, winds, hail, snow, theft, and other covered perils damage the truck, tractor, or other motorized vehicles of your farm and ranch
Understand that physical damage coverage doesn’t take care of costs if the motorized vehicles sustained damage due to rollovers. Also, coverage might not apply if damage occurred while the motorized vehicle is being used by another driver, except you or other insureds.
Medical Payments/Personal Injury Protection
Medical payments and personal injury protection are coverages in commercial auto insurance that protect the driver and passengers of your farm and ranch’s motorized vehicles. Here’s a quick discussion of their difference:
Medical payments coverage-If the tractor or truck of your farm and ranch injures its passenger or driver, medical payments coverage accounts for medical treatment and hospitalization
Personal injury protection coverage-Personal injury protection coverage will cover medical treatment, hospitalization, medication, lost wages, etc. if the tractor or truck of your farm and ranch injures its passenger or driver
Uninsured/Underinsured Motorist Coverage
If the driver who caused the accident can’t indemnify your losses, underinsured/uninsured motorist coverage will take care of all the costs for medical treatment, property damage reimbursement, and vehicle repairs.
Your farm and ranch uses flatbed trailers, enclosed trailers, or utility trailers to haul goods and equipment.
Commercial auto insurance will cover the trailer but only if it’s attached to the insured tractor or truck. Therefore, if something happens to the trailer while it’s not attached, then you’re left on your own.
This is why you must consider getting trailer insurance. The purpose of this insurance is to:
Cover medical treatment, property damage reimbursement, settlements, defense costs, and court judgments if your trailer injures or destroys the property of a third party
Cover parts repair or replacement expenses if the trailer of your farm and ranch sustains damage due to collision, theft, fire, weather, and other covered perils
Reimburse rental or lease expenses if you need to hire an additional trailer because the one that you own is being repaired
Insurance companies allow you to add trailer interchange coverage to your trailer insurance. It takes care of repair or replacement expenses if a trailer you hired or borrowed under a trailer interchange agreement sustains damage or becomes destroyed due to fire, theft, and other covered perils.
Farm and ranch work is very perilous. Livestock can injure custodians, hazardous chemicals can cause sickness, and accidents can result in burns, fractures, and other injuries. Experts record the fatality rate at 18.0 per 100,000 workers.
Workplace deaths and also injuries or diseases can be very expensive. Purchase workers' compensation insurance to cover costs. This policy will take care of the following:
Medical Treatment/EMT Service
Workers' compensation insurance will cover medical treatment fees and private EMT service fees if an employee sustains:
Injuries after getting attacked by livestock
Injuries after experiencing an accident while using equipment
Injuries after equipment breaks down
Disease due to contact with fertilizers, herbicides, and other harmful substances
Hospitalization
You can use workers' compensation insurance to cover bills if an employee needs to stay in the hospital to receive intensive medical care for a work-related injury or disease.
Medication
Workers' compensation insurance provides the funds an employee can use to buy medications for a work-related injury or disease, as prescribed by the physician.
Rehabilitation And Retraining
Workers' compensation insurance covers rehab. It will also cover retraining costs so that your employee can resume his job. While your employee is under rehab or being trained, the policy will provide an allowance equal to a percentage of the average weekly wage.
Lost Wages
Workers' compensation insurance covers lost wages if the employee of your farm and ranch can’t work due to a work-related injury or disease. The policy provides a weekly allowance equal to two-thirds or 67% of the average weekly wage.
Death Benefits
If the employee of your farm and ranch dies, workers' compensation insurance provides death benefits. It will take care of the funeral expenses and grant financial assistance to dependents
Most state laws don't require farm and ranch owners to get workers' compensation insurance for their employees. But still, it’s best to be safe, so check the requirements of the worker's comp department of your state.
You can insure yourself with workers' compensation insurance. While purchasing the policy, carriers will give you the liberty to include or exclude yourself as an insured.
The average farm and ranch insurance cost is $68.33 per month or $820 per year for a $1 million general liability insurance coverage. In connection, here’s a table showing the rates of the recommended farm and ranch insurance companies:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| CoverWallet | $45 | $540 | Farm and ranch insurance online quotes comparison |
| AFR | $61 | $732 | Oklahoma farmers and ranchers |
| Cinco | $64 | $768 | Rented farms and ranches |
| Nationwide | $70 | $840 | Large farms and ranch |
Get the best coverage for your farm and ranch by comparing quotes. Click the “Get Quotes” button on this page to start.
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These are the best farm and ranch insurance companies. Read some of the reviews below to know their pros, cons, and rate for a $1 million farm and ranch general liability insurance.
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No hidden charges
Not an insurance company but an insurance broker
CoverWallet offers general liability, commercial property, and commercial auto insurance for farms and ranches.
This company’s general liability insurance offers $1 million coverage for your business. The policy includes a $2 million product liability coverage, $5,000 medical payments coverage, and $250,000 rented premises liability coverage.
CoverWallet’s commercial property insurance for farms and ranches, on the other hand, provides $50,000 building and contents coverage. The company doesn’t state if livestock and farm equipment are also covered.
You can use CoverWallet’s online quotes comparison platform to see the rates of companies that underwrite farm and ranch insurance.
Best for: Farm and ranch insurance online quotes comparison
Average cost: $45 per month
Our rating: 10/10
Up to 15% on multi-policy discounts
Experienced in the industry
Underwrites tailored coverages for farms and ranches
You need to contact an agent to get a quote
American Farm and Ranch Insurance trace its history back to 1905 when the Oklahoma Farmers Union was founded. Over the course of 100 years, this company has specialized in providing Oklahoman farmers with the best possible farm and ranch insurance for the most competitive prices.
AFR is one of the many farm and ranch insurance companies that offer a wide variety of coverage options for your farm and ranch insurance, such as:
Dwelling coverage
Livestock insurance
Farm and ranch property insurance
Liability insurance
Water damage coverage
Winter perils coverage
Additionally, AFR doesn’t only offer numerous farm and ranch policies but also discounts. Discounts you can get from this company are
Multi-policy discount (15%)
Claims free discount (15%)
Protection system discount (15%)
Roof surface discount (20%)
Age of home adjustment discount (30%)
Best for: Oklahoma farmers and ranchers
Average cost: $61 per month
Our rating: 8/10
Offers farm renters insurance
Allows you to implement additional insureds in your insurance policy
Custom coverage
Getting a quote is slow
Cinco insurance has been in business for 24 years, and during that time, the company has specialized in working with ranchers and farmers. All of the company’s agents are vetted to ensure that they have enough experience working in both the finance and farming industries so they have the right combination of knowledge.
Cinco has a wide range of policies that can be applied to both hobby and commercial farms, including livestock insurance, coverage for crops, nurseries, and grains, as well as homeowners coverage. They even offer farm and ranch renters insurance so that owners who rent aren’t left out
Best for: Rented farms and ranches
Average price: $64 per month
Our rating: 8/10
Allows you to consult certified farm insurance agents
24/7 online insurance account access
AgriChoice, AgriChoice Plus, and CountryChoice programs that are tailored to the size, revenue, equipment, and factors a farm need to consider when buying insurance
Doesn't offer affordable insurance coverage to small farms and ranch
Nationwide offers farm and ranch insurance coverage under their AgriChoice, AgriChoice Plus, and CountryChoice programs. Agrichoice provides broad coverage for all types of farms and ranches. Agrichoice Plus is the policy for farms and ranches engaged in commercial activities. Finally, CountryChoice is for private farms and ranches.
Best for: Large farms and ranch
Average price: $70 per month
Our rating: 8/10
Use anyone except Employers. Period. They are non-transparent and shameful. After I complained long enough to warrant a call from a supervisor, the supervisor called back from a PRIVATE NUMBER (no caller ID), left a message that they are not reversing their decision (without any communication with me), and failed to leave a phone number for me to call back. She was hiding! They also fact find via email and phone calls, which is terrific for speed and communication. However, after setting a precedence of email or phone calls, they send time sensitive information via email, without any heads up... they are hoping you miss it and forfeit via expiration. Evil policies. Go elsewhere.
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
Not all those who wander are lost.
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