Specialty Farm Risks Insurance

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The Specialty Farm Risks Insurance Guide

Farm Risks Insurance

Farm Risks Insurance. This guide provides information on excess, surplus and specialty lines small business insurance policies and risks.

Here you can find basic descriptions of the specific industry risks or specialty coverage types available for Farm Risks Insurance.

For certain types of small businesses, particularly new ones - it is often very hard to know what types of commercial insurance is needed, what the risks are that should be covered - and where to find coverage.

We wanted to provide reference for specialty commercial insurance to help our readers get a better understanding of Farm Risks Insurance policies they might need to do business.

Learn about Specialty Farm Risks Insurance to better understand common risks, exposures and the types of commercial insurance coverage available to protect your small business and it's operations.

Farm Risks Insurance Types

Click on the links below to learn more about Specialty Farm Risks Insurance types and coverages:

What Type Of Insurance Do Agritainment And Agritourism Businesses Need?

Agritainment and agritourism occurs when a farm opens itself to the general public for tours and events that revolve around farm activities. Common examples are hayrides, pumpkin patch mazes and corn mazes but the events can be much more elaborate and extensive. These activities were once covered as part of a farmowners policy, but as they increase in complexity, they are being excluded from the basic policy and must be separately covered.

What Is Anhydrous Ammonia Liability Insurance?

Both the property and the liability exposures of anhydrous ammonia dealers are significant due to the potential for explosion. The primary legal use of anhydrous ammonia is to fertilize crops. Unfortunately, it also has several illegal uses, such as making explosives, methamphetamines, and freebase cocaine.

What Type Of Insurance Do Animal Farms Need?

The farm-to-table interest has encouraged the raising of exotic breeds of animals or birds, such as bison, caribou, deer, llamas, and ostriches. These animals are exposed to a number of catastrophic hazards, such as floods, hurricanes, earthquakes, and drought. Coverage can be arranged for both property and liability hazards. These types of animals have much higher values than cattle, sheep, or hogs.

What Is Animal Mortality Insurance?

Animal Mortality is life insurance on domestic animals, livestock, and zoological animals. It covers death from any cause that is not excluded as well as voluntary destruction of animals for humane reasons when certified by a veterinarian. See Bloodstock Insurance for coverage on horses, Livestock Mortality Insurance for coverage on other livestock, and Birds (Exotic) Insurance for coverage on birds such as parrots and ostriches.

What Type Of Insurance Do Aquaculture Operations?

Aquaculture operations or marine farming is similar to other farming operations, but it has some unique and unusual exposures. Flood and windstorm coverage is available through various insurance pools, while private insurers provide other property and liability coverage. Unique exposures include disease and contamination of fish, shellfish, and shrimp crops during cultivation.

What Type Of Insurance Do Arborists Need?

Arborists are tree specialists. They frequently consult and provide advice on the type of tree to plant and where to plant it. These decisions can have impact on power lines, sewer systems, and fire exposures. Arborists often provide tree-related services such as planting, trimming, removing, and spraying. Some arborists own nurseries.

What Is Bloodstock Insurance?

Bloodstock insurance is animal mortality coverage for horses. It is usually written on valuable racing horses, thoroughbreds, standardbreds, quarter horses, or prized show horses such as Arabians, Palominos, and Tennessee Walkers. It is available for both stallions and brood mares. Rates vary based on factors such as the horse's age, use, value, sex, and the coverage provided. All insurers require a veterinarian's certification that the animal is healthy and free of illness or disability.

What Type Of Insurance Do Crop Dusting And Spraying Operations Need?

This coverage is properly classified as a specialty aviation insurance coverage. It applies to insureds that use aircraft (including drones or UAVs) to dust or spray insecticides or herbicides on crops or other vegetation. The hazards for these operations are greater than those associated with normal aircraft operations because the chemicals the aircraft applies may be dangerous to animal life or neighboring crops which requires that the aircraft operations be performed at low altitudes. The three types of liability coverage available are third-party liability coverage without chemical damage coverage, third-party liability coverage including protection for damage caused by using insecticides, and liability protection for damage from all but a few chemicals. Coverage applies to both bodily injury and property damage. Prior loss experience, the operator's financial condition, the number of pilots and their experience, the use of UAVs or drones, and the types of chemicals sprayed are key factors in underwriting this business.

What Type Of Insurance Do Custom Harvesting Operations Need?

Coverage is available to insureds that perform, under a written contract or agreement, farming or harvesting operations for others. Because unendorsed farmer's personal liability insurance or farmowners policies provide only incidental coverage for this exposure, additional coverage must be purchased when the insured's receipts exceed $5,000, which is the maximum, allowed under many farmowners policies.

What Type Of Insurance Do Farm Feed, Fertilizer, Seed And Supplies Businesses Need?

that handle feed, fertilizer, seed and farm supplies make up a specialized class of retail or wholesale businesses that serve the agribusiness and farm market. Some dealers that sell fertilizer also contract with farmers for its application, which can significantly add to the exposure. Seed and grain silos are subject to explosions. Feed and seed mixing can present significant product liability exposures. Theft of liquid and solid fertilizer is a significant property exposure.

What Type Of Insurance Do Farm Implement Operations Need?

Farm implement dealers are similar to automobile and recreational vehicles dealers but with some important differences. The equipment they handle is often larger, more expensive, and may be deadly if not properly safeguarded. This equipment is built to last many years and is often serviced by the farmer with the dealer providing service on difficult repairs. These dealers may also sell used equipment.

What Type Of Insurance Do Farm Labor Contractors Need?

These contractors recruit and employ farm workers to harvest crops for others. They are responsible for all labor-related human resource issues, including compliance with the Migrant and Seasonal Agricultural Worker Protection (MSAWP) Act. The contractors provide transportation to and from the fields and often provide housing, clothing, protective gear, food, and other services to the workers.

What Type Of Insurance Do Farmers Markets Need?

Farmers markets are open-air markets where farmers and others display and sell their goods. While the primary draw is the fresh produce, vendors may sell baked goods, fresh fish and meat, prepared items, and crafts. Food concessionaires may also sell various types of restaurant food and drinks. The local market committee and local regulations determine the type of vendors that are permitted.

What Type Of Insurance Do Farms And Ranch Properties Need?

Farms and ranches have always been considered a specialty line of insurance. Some major carriers have separate divisions to underwrite farm, ranch and/or agribusiness risks. Dwellings, farm buildings, equipment, and livestock at one location can expose significant values to a single loss. Most farm properties are unprotected and do not have readily available water or paid fire department service. Policies written on farms and agribusinesses often combine both personal and commercial property and liability exposures. Larger farms and corporate farms are usually underwritten as commercial lines while family farms are underwritten as more personal lines.

What Type Of Insurance Do Grain Elevators Need?

Insurance companies that specialize in writing agribusiness risks insure grain elevators, feed processing plants, flour mills, and similar or related plants and equipment. Both property and liability coverages are available. Explosion is the most significant exposure for both coverages. Large terminal elevators present values that require significant limits. Port elevator risks, while equally large, are less desirable.

What Is Hail Insurance?

This coverage indemnifies owners of growing crops or tenant farmers who have an interest in such crops for loss or damage caused by hail. It is subject to a written application and payment of premium before coverage takes effect. Coverage usually applies from late spring or early summer to when the crop is harvested or until the expiration date. Claims are paid based on the maturity of crops at the time of loss.

What Is Horse Breeders And Boarders Insurance?

These coverages are for owners of stables or farms where horses are boarded for others. The horses may be available for only their owners to ride or may be rented to others to ride. Some stables provide stud and breeding services. Coverage provided for these operations includes care, custody, and control coverage on the breeder's behalf and other coverages to protect its liability with respect to the horses being bred.

What Type Of Insurance Do Horse Farms Need?

Farms that specialize in raising show or race horses have significant livestock and liability exposures. In addition, horse farms that provide boarding and breeding activities or the ones that offer training and instruction have unique liability and property exposures. Property coverage applies to barns, stables, tack, other equipment, and farm machinery. Commercial general liability insurance covers various exposures connected with horses.

What Type Of Insurance Do Horticultural Businesses Need?

Insurance programs for horticultural risks target florists, garden centers, nurseries, landscapers, fruit and vegetable farms, greenhouses, farmers markets, and pick-your-own operations. In addition to property and general liability coverages, other optional coverages available include florists or horticulture errors or omissions; payment of damages for the insured's negligent acts, errors, or omissions; pollution liability for pesticides and fertilizers; and pollution cleanup. Other optional coverages include increased business personal property seasonal limits, accounts receivable, and different money limits before and after holidays. Errors and omissions coverage is usually subject to a deductible.

What Is Livestock Mortality Insurance?

This is life insurance coverage on livestock that consists primarily of cattle, hogs, and goats. It indemnifies the insured for loss due to the animal's death from natural causes, fire, lightning, accident, acts of God, acts of men other than the owner or employees, and necessary destruction of animals for humane purposes. Different coverage approaches apply to horses and poultry.

What Is The Livestock/Auction Market Form?

This special livestock insurance coverage form insures a livestock auction market's owner for loss or damage to livestock consigned to the market. Coverage begins at the shipping point and ends when the livestock is unloaded. Some forms also cover animals to be auctioned from the time they enter the auction market's premises until they are sold. A few coverage forms go so far as to cover sold livestock until they are delivered to their purchaser's premises or final destination.

What Is The Livestock/Commercial Feedlot Reporting Form?

This is a named peril livestock insurance coverage form for commercial feedlots. It is usually written on a monthly reporting basis. Coverage begins when the livestock reaches the feedlot.

What Is Multiple Peril Crop Insurance?

Multiple peril crop insurance provides "all risk" type crop insurance against unavoidable losses due to the uncertainty of nature. A division of the federal agricultural department administers the program but is available through private insurers and licensed agents and brokers. It covers specified crops such as corn, soy beans, wheat, barley, and tobacco. Coverage applies to loss to crops caused by wildlife, insect infestation, plant disease, earthquake, drought, flood, hail, wind, frost, freeze, lightning, fire, excessive rain, snow, hurricanes, tornadoes, and any other unavoidable cause of loss due to adverse weather conditions.

What Is Poultry Insurance?

This coverage protects individual poultry raisers, feed mills, and financial institutions for their investment in large flocks of poultry raised as broilers, breeders, or egg layers. Coverage is usually written on an "all risks" basis using coverage forms and policies designed for the poultry industry. Coverage usually includes death caused by climatic conditions, such as temperature and humidity, on the grower's premises or in transit.

What Is Seed Merchants Errors And Omissions Insurance?

This coverage protects seed growers, seed dealers, wholesalers, seed packagers, seed brokers, and other individuals or firms that handle seeds against claims that arise from errors or omissions in germination tests, failure to germinate, mislabeling of seeds, and similar claims. Rating is based on the types of seeds handled. A distinction is made between regular garden seeds and field seeds such as corn, wheat, oats, etc. Without this important coverage, there would be gaps in the seed handlers' products liability coverage.

What Is Slaughterhouse Insurance?

These operations can be very large and generic or small and customized. All are labor intensive and involve significant workers compensation exposures from cuts, carpel tunnel, and disease. The slaughterhouse may own the meat it produces or others may own the meat and the slaughterhouse only processes it. Housekeeping, sanitation, and regularly testing the meat are primary underwriting considerations.

What Is Terrorism Insurance?

The market for terrorism coverage changed dramatically on September 11, 2001. Coverage availability and pricing varies significantly, based on geographic location and type of industry.

Farm Risks Insurance - The Bottom Line

We hope that the Farm Risks Insurance helps you to better understand the some of the specialty small business commercial insurance policies available for your business. To find out what types of coverage your unique business needs, speak to a professional commercial broker with experience in insuring businesses like yours.

Specialty Small Business Insurance Guide By Industry, Risk Or Policy Type

Types Of Small Business Insurance - Requirements & Regulations

Perhaps you have the next great idea for a product or service that you know will appeal to your local area. If you've got a business, you've got risks. Unexpected events and lawsuits can wipe out a business quickly, wasting all the time and money you've invested.

Operating a business is challenging enough without having to worry about suffering a significant financial loss due to unforeseen and unplanned circumstances. Small business insurance can protect your company from some of the more common losses experienced by business owners, such as property damage, business interruption, theft, liability, and employee injury.

Purchasing the appropriate commercial insurance coverage can make the difference between going out of business after a loss or recovering with minimal business interruption and financial impairment to your company's operations.

Small Business Information

Insurance is so important to proper business function that both federal governments and state governments require companies to carry certain types. Thus, being properly insured also helps you protect your company by protecting it from government fines and penalties.

Small Business Insurance Information

In the business world, there are many risks faced by company's every day. The best way that business owners can protect themselves from these perils is by carrying the right insurance coverage.

The The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight.

Commercial insurance is particularly important for small business owners, as they stand to lose a lot more. Should a situation arise - a lawsuit, property damage, theft, etc. - small business owners could end up facing serious financial turmoil.

According to the SBA, having the right insurance plan in place can help you avoid major pitfalls. Your business insurance should offer coverage for all of your assets. It should also include liability and casual coverage.

Types Of Small Business Insurance

Choosing the right type of coverage is absolutely vital. You've got plenty of options. Some you'll need. Some you won't. You should know what's available. Once you look over your options you'll need to conduct a thorough risk assessment. As you evaluate each type of insurance, ask yourself:

  • What type of business am I running?
  • What are common risks associated with this industry?
  • Does this type of insurance cover a situation that could feasibly arise during the normal course of doing business?
  • Does my state require me to carry this type of insurance?
  • Does my lender or do any of my investors require me to carry this type of policy?

A licensed insurance agent or broker in your state can help you determine what kinds of coverages are prudent for your business types. If you find one licensed to sell multiple policies from multiple companies (independent agents) that person can often help you get the best insurance rates, too. Following is some information on some of the most common small business insurance policies:

Business Insurance Policy Type What Is Covered?
General Liability InsuranceWhat is covered under commercial general liability insurance? It steps in to pay claims when you lose a lawsuit with an injured customer, employee, or vendor. The injury could be physical, or it could be a financial loss based on advertising practices.
Workers Compensation InsuranceWhat is covered under workers compensation insurance? This type of insurance protects a business and its owner(s) from claims by employees who suffer a work-related injury, illness or disease. Workers comp typically provides the injured employee with benefits to cover medical expenses, a portion of his/her lost wages, rehabilitation costs if applicable, and permanent partial or permanent total disability.
Product Liability InsuranceWhat is covered under product liability insurance? I pays an injured party's settlement or lawsuit claim arising from a defective product. These are usually caused by design defects, manufacturing defects, or a failure to provide adequate warning or instructions as to how to safely use the product.
Commercial Property InsuranceWhat is covered under business property insurance? General liability policies don't cover damages to your business property. That's what commercial property insurance is for. It protects all of the physical parts of your business: your building, your inventory, and your equipment, giving you the funds you need to replace them in the event of a disaster. If you work from home, you might consider a Home Based Business Insurance policy instead.
Business Owners Policy (BOP)What is covered under a business owners policy (BOP)? This is a policy designed for small, low-risk businesses. It simplifies the basic insurance purchase process by combining general liability policies with business income and commercial property insurance.
Commercial Auto InsuranceWhat is covered under business auto insurance? This type of insurance covers automobiles being used for business purposes. This could include a fleet of business-only vehicles or a single company car. In some cases it might cover your car or your employee's car while they're being used for business. These policies have much higher limits, ensuring you can cover your costs if one of these vehicles gets into an accident.
Commercial Umbrella PoliciesWhat is covered under commercial umbrella insurance? This type of policy is a sort of "gap" insurance. It covers your liability in the event that a court verdict or settlement exceeds your general liability policy limits.
Liquor Liability InsuranceWhat is covered under liquor liability insurance? It covers bodily injury or property damage caused by an intoxicated person who was served liquor by the policy holder.
Professional Liability (Errors & Omissions)What is covered under professional liability insurance? This type of business insurance is also known as malpractice oe E&O. It covers the damages that can arise from major mistakes, especially in high-stakes professions where mistakes can be devastating.
Surety BondWhat is covered under surety bonds? Bonding is a contract where one party, the SURETY (who assures the obligee that the principal can perform the task), guarantees the performance of certain obligations of a second party, the PRINCIPAL (the contractor or business who will perform the contractual obligation), to a third party, the OBLIGEE (the project owner who is the recipient of an obligation).

Who Needs General Liability Insurance? - Virtually every business. A single lawsuit or settlement could bankrupt your business five times over. You might also need this policy to win business. Many companies and government agencies won't do business with your company until you can produce proof that you've obtained one of these policies.

Business Insurance Required by Law
Small Business Commercial Insurance

If you have any employees most states will require you to carry worker's compensation and unemployment insurance. Some states require you to insure yourself even if you are the only employee working in the business.

Your insurance agent can help you check applicable state laws so you can bring your business into compliance.

Other Types Of Small Business Insurance

There are dozens of other, more specialized forms of small business insurance capable of covering specific problems and risks. These forms of insurance include:

  • Business Interruption Insurance
  • Commercial Flood Insurance
  • Contractor's Insurance
  • Cyber Liability
  • Data Breach
  • Directors and Officers
  • Employment Practices Liability
  • Environmental or Pollution Liability
  • Management Liability
  • Sexual Misconduct Liability

Whether you need any or all of these policies will depend on the results of your risk assessment. For example, you probably don't need an environmental or pollution policy if you're running an IT company out of a leased office, but you would need data breach and cyber liability policies to fully protect your business.

Also learn about small business insurance requirements for general liability, business property, commercial auto & workers compensation including small business commercial insurance costs. Call us (855) 767-7828.

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