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Farm Insurance in McDonough, GA

As part of the agricultural industry, your farm is an essential and potentially lucrative business that provides necessary products for millions of Americans. However, the agricultural industry is also consistently ranked as one of the most dangerous among U.S. employers. Given the many risks and perils that may exist on your farm, it’s wise to prioritize maintaining robust loss control measures, including a farm owners insurance portfolio.

What Is Farm Owners Insurance?

Farm owners insurance is designed to help cover your farm or ranch in a variety of situations. This type of insurance can help protect your operations from risks specific to the agricultural industry.

Your farm may require many types of insurance in order to establish coverage suitable for your unique perils. Although some insurance providers may offer packages capable of addressing several of your risks and exposures, you may still need to assemble your own portfolio to ensure adequate financial security.

Regardless of how your farm owners insurance portfolio is acquired, once you’ve done so, you may be able to access critical financial assistance in response to incidents that might otherwise impose significant out-of-pocket costs.

What Does Farm Owners Insurance Cover?

Although the insurance needs of your farm may differ from that of your neighbors or peers, there are several coverage offerings that are generally advisable. When building your insurance portfolio, consider the following coverage options:

  • Farm liability insurance—This coverage may help pay for third-party losses in which you are liable, such as guests, neighbors or passersby getting injured or experiencing property damage as a result of your farm’s operations.
  • Farm dwelling insurance—This coverage can help financially protect your farmhouse or residence, including its physical structure, following losses caused by covered events (e.g., fires, wind, hail, theft and vandalism).
  • Farm outbuilding insurance—This coverage may provide financial assistance for damage sustained by barns, sheds and other structures on your farm.
  • Livestock insurance—This coverage can help financially protect your farm from losses involving your animals.
  • Crop insurance—This coverage may provide financial support if your crops are damaged or destroyed by covered events.
  • Workers’ compensation insurance—This coverage can help pay for expenses and losses related to your employees experiencing occupational injuries or illnesses (e.g., medical bills).
  • Equipment breakdown insurance—This coverage may render financial aid to help repair or replace damaged farm equipment.
  • Commercial auto insurance—This coverage can provide financial assistance if your farm’s vehicles are involved in an accident on the road or are otherwise damaged.

Is Farm Owners Insurance Tax Deductible?

Certain expenses related to your farm’s business operations may be tax deductible, including “ordinary and necessary” insurance premiums. As such, a robust and versatile farm owners insurance portfolio may not only provide critical financial security for your farm but also benefit you during tax season.

Get the Right Coverage

At Strawn & Co, our agents are dedicated to crafting optimal coverage for farms, families and other businesses. We have over 50 years of experience assessing and addressing insurance needs and will draw on that extensive knowledge to ensure your farm’s finances and future are secured. Contact us today to get started.

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