If your livelihood is farming, then chances are you already know you need farm insurance. But even hobby farms and small organic farmers require insurance to protect their property, their crop, their livestock, and liability exposure. If you own a hobby farm in Ontario, talk to a broker about “Your Countryside Life”—it’s the best way to protect your country lifestyle.
Here are a few clear signs that you will need farm insurance! Read on to learn more.
1. You Own Animals
If you own livestock like horses, cows, sheep, or chickens, farm liability coverage is required. These animals can represent large investments. Not only is it upsetting to lose a beloved animal, it can be very expensive to replace them.
2. You Have a Large Barn
If you are living in the country, it is common to have large outbuildings like a barn for storage purposes. You might use it for keeping machinery like tractors or lawnmowers dry, or as a home for your animals. Even if a barn is no longer used for farming, if it was designed as an agricultural building, it must be insured specifically as a barn. Whatever the case, older barns and other structures can be easily damaged by storms and bad weather. They can also be susceptible to fires, especially if being used to store hay or similar materials.
3. You Grow and Sell Fruits and Vegetables
Growing and selling fruits and vegetables requires farm liability insurance. This is becoming increasingly popular, especially with the rise of organic farming. While most crops are grown in the ground, some are grown in greenhouses. If your greenhouse or growing facility is damaged, it can be disastrous—this is a clear sign to speak with a broker about farm insurance!
4. You Own Farm Machinery
Technology is great when it works, but a pain when it doesn’t. Equipment likes tractors, combine harvesters, ploughs, and grain dryers can all be essential on a big enough farm. But these are incredibly expensive pieces of machinery. If they break down, they can be costly to repair in terms of both money and time wasted.
5. You Rent Land to a Farmer
Maybe you do not consider yourself a farmer. But do you own a sizeable chunk of land and rent some of it to a farmer? You should consider this as a sign as well. Rented farm land is your responsibility too — something you should bear in mind with non-farm-related property!
The required coverage for your farm will vary depending on whether you have equipment, outbuildings, crops or livestock. The best way to determine what type of insurance you will need is to connect with a broker in Ontario!
