Does Your Ohio Farm Insurance Cover All Your Business Risks?
The farming business in Ohio can be very rewarding but at times it can be an enormous amount of work and responsibility. You have so many things to tend to, including all the aspects of running a business. An agribusiness has to take unexpected weather events into account and this is only one risk factor you face each day. Without the right kind of farm insurance, your business could be operating in the red for a long time and you could go under. In fact, your insurance can keep you going when other farms have failed and here is an example.
James and Emma grew up on farms, and before they got married they decided to buy their own farm and raise poultry. When they bought their farm, they knew insurance was important and it would take much more than standard home owners insurance to cover their business risks. James wanted to get by with minimal insurance until they were turning a sizable profit but Emma had other ideas. Since she was contributing more than 50 percent of the down payment and investment money, Emma insisted they see her independent insurance agent. He was very knowledgeable and sat down with the couple to discuss all their agribusiness insurance needs. This turned out to be one of the best investments the young couple could make.
Emma was very interested in selling quality eggs from free range chickens. It took some time to get things going but before long they had a thriving business, selling chickens to a local meat processing company and people came from all over the area just to buy Emma's eggs.
Business was booming and Emma started raising tomatoes and selling them at a local farmers market. However, one day several people claimed they became ill from the tomatoes and the couple was faced with some nasty lawsuits. Although standard crop insurance didn't cover this situation, Emma insurance agent saw that she had product liability insurance and this paid for the damages and legal fees. Without expert help from this agent, things would have turned out far differently for Emma and James.
What is Farm Insurance?
Farming insurance is about insuring your agribusiness but since many farmers also live at their farms, coverage must also include homeowners insurance and many other insurance options. Farm coverage is designed to cover all the risks farmers face each day to stay in business.
Do I Really Need Agribusiness Insurance?
If you operate a farm or agribusiness, you should consider this coverage. This includes these businesses:
- Owner occupant farmers
- Tenant farmers
- Part-time farmers
- Farm owners who lease their properties
- Horse, sheep, and cattle ranches
- Poultry farmers
- Crop farmers
- Biofuel operations
- Dairy farmers
- Stables and horse boarding services
- Pig farmers
- Self service crop farms
What Insurance Will I Need?
Standard coverage should include:
- Crop insurance (if applicable)
- Homeowner policy
- Liability for homeowners
- Business liability
- Buildings coverage - may include silos, barns, sheds, garages for equipment and many other outbuildings.
- Building contents
- Farming machinery and equipment
- Livestock insurance
- Pollution liability protection - covers farmers who spray crops
Options for Farm Insurance
Your insurance agent may recommend several important coverage options to serve your business risks, such as:
- Workman compensation
- Cargo insurance - protects livestock and materials in transit
- Loss of income
- Hay stacks
- Contamination or spoilage insurance
- Commercial vehicle insurance
- Stable liability
- Office equipment
- Replacement cost insurance
- All peril protection
- Product liability
- Hunting or fishing liability
- Sewer backups
- Antique farming equipment
- Lead liability
- Incidental horse boarding
Where Can I Find Agribusiness Insurance in Northeast Ohio?
If you are looking for insurance customized to your farm, come to experienced independent professionals at The R.C. Cook Insurance Agency. For more than 50 years we have been in the insurance business and we are here to serve your interests, not the interests of an insurance company. As independent agents we work for you and we can provide you with customized coverage like crop insurance and special discounts like these:
- Discount for combing farm and auto policies
- Lower fire insurance premiums (depending on the distance from the nearest fire hydrant and response department)
- Lightning rods
- Fire alarms
- Burglar and anti theft alarm systems
- New home credits (if 15 years old or less)
- Discount for masonry or fire resistant construction
- Builders risk insurance (while your home is being built)
Maybe you are not a full-time farmer. That is OK too. We can provide many insurance options including:
- Up to 4 family homes
- Manufactured homes
- Mobile homes
- Farm property only policies
At The R.C. Cook Insurance Agency we find you insurance based on condition, age, materials and other important features of your property. This gets you the best premiums. Come to The R.C. Cook Insurance Agency today for a free quote on your insurance. For more info, please feel free to call us at (330) 296-3628.