Farm and agricultural insurance is specifically designed to cover unique situations for those engaged in farming and related agri-businesses. While liability insurance for farms and agri-business is similar to most commercial general liability policies, the perils it protects against are a bit different.
The following areas of loss need evaluation with your agri-business insurance representative. Appropriate coverage should become part of your business’s insurance portfolio.
Loss of Income
Most businesses see fire as a major incident that could shut a business down for a time. Part of their insurance portfolio is a loss of income protection. Basically, the insurance company provides income to the business until it starts up again. Agri-business needs more protection as storms, freezes, and disease can all shut an agri-business down for a season. Check with your insurance agent about this important coverage.
Small family farms may offer hayrides to visitors. Have you considered what an injury to a visitor could mean if you are found responsible for the injury? You will have to pay medical bills, lost wages and even pain and suffering out of future profits. Proper insurance for these activities protects you and your business from liability claims.
Product Liability Insurance
When fruits and vegetable grow to ripeness over the warm summer months, you operate a small farm stand. If your produce is tainted and people become sick from eating it you need appropriate insurance to protect you and your business from financial ruin. Farm product liability insurance is what you need.
Other situations unique to farms and companies in agricultural and related businesses can be covered with the right insurance. Farmers need a company that understands their business.
Owning an agri-business brings you to a complicated insurance situation. In Northern California, contact Wraith, Scarlett & Randolph, experienced insurance brokers for agri-business to help find solutions to all your potential agri-business liabilities. Call 1-877-920-8500.