Diary farm insurance

3 Farm Insurance Coverages to Protect Your Dairy

Starting any new business comes with inherent risks, and dairy farming is no exception. Dairy farmers must closely monitor their cattle, living conditions, feed, and milk production in order to turn a profit. Even then, the unexpected could happen and cause a serious financial hardship if the dairy farm isn’t protected with adequate farm insurance.

But, as a new dairy farmer, how do you know what protections you need? Not to worry. We’ve compiled a list of three coverages that will help protect what matters most to you.

Livestock Coverage

Injury to your cattle means injury to your bottom line. Livestock coverage includes two important options. The first is comprehensive coverage. As the more expensive option, comprehensive coverage offers broad peril coverage that includes accidents, sickness, disease, and injury. It also usually includes theft. The second option is limited coverage. It covers a more narrowed list of perils such as accidents involving drowning, shooting, fire, smoke, electrocution, explosions as well as natural disasters, weather events, other animal attacks, auto collisions, or death while transporting cattle. Since you know your farm, as well as the surrounding traffic and dangers, better than anyone it’s important to discuss all the potential threats and hazards when talking to your insurance broker about the best livestock coverage for your farm.​​

Milk Coverage

Even when you take the best precautions, contaminated milk can sometimes happen. Milk coverage gives you the peace of mind that this production setback won’t create a serious financial loss for your farming business.

Comprehensive Building and Equipment Coverage

This important coverage protects the equipment, buildings, and livestock dwellings necessary to make the farm run smoothly. Because every dairy farm is different, it’s important to work closely with your insurance broker to determine the right amount of coverage as well as an affordable deductible.

It’s impossible to know what accidents, natural disasters, or other mishaps will threaten the success of your dairy farm, but by protecting yourself with livestock coverage, milk coverage, and comprehensive building and equipment coverage, you can feel confident that your farm will be able to bounce back from just about any setback.

Our farm insurance experts know how to find the right coverage that suits your farm because they are farmers too.  Connect with one of our local advisors to find the coverage that is right for you.

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Original content provided by Pathwayport.com