1575 Pearl Rd Brunswick | 330.225.5605

If you want to enjoy good profits as a business owner, then you need to minimize your risks. While you will never be able to avoid every pitfall and roadblock, a solid insurance policy could help you recover from a wide variety of common problems. With the right coverage, you won’t have to worry about issues such as damaged property, lawsuits, and injured employees.

Farm Liability Insurance

No matter how careful you and your employees try to be, accidents may take place at some point. When an employee or guest is injured on your farm, liability insurance should pay for some or all of the medical expenses. This type of insurance will essentially cover any liability issues that you have to deal with over the years.

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Outbuilding Coverage

Many farm owners don’t realize that their outbuildings aren’t covered until there is a need to make a claim. Your barns, sheds, grain silos, and garages probably aren’t insured unless you specifically added one of these riders to your policy. Outbuilding coverage helps you repair or replace those buildings if they are ever damaged by fires, windstorms, sinkholes, or hailstorms.

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Farm Equipment Coverage

Your farming tools are the lifeblood of your business, and they must be fully insured at all times. Even used farm equipment can be incredibly expensive, and each piece of machinery needs to be listed on your insurance policy. Most farm equipment policies will cover all repair costs or help you completely replace a piece of equipment if it isn’t salvageable.

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Life and Long-Term Disability Insurance

As a business owner, you probably have at least a few family members relying on your income. Long-term disability insurance will pay for a myriad of expenses if you ever become seriously sick or injured. In the event of your death, life insurance will keep your farm afloat until your family decides what to do with it.

Property and Casualty Insurance

Owning an operational farm carries a lot of risks to both your property and yourself. Not only do you have to manage many acres of land, but you also need to do so in a way that doesn’t pose any real risk to your health, your family’s, or your workers. If something goes wrong on your farm, you carry the responsibility to make it right. Property and casualty insurance (P&C) goes a long way towards ensuring that your efforts to build out your farm proceed without any real setbacks or incidents.

Workers’ Compensation Insurance

All business owners must have workers’ compensation insurance before hiring a single employee. Each state has its own laws regarding workers’ compensation insurance, but the vast majority require at least some form of coverage for employees. Having a good workers’ comp policy could also be a major selling point when it comes time to hire high-quality staff members.

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After you have solid coverage in place, you should try to revisit those policies once every few months. Your insurance needs will continue to change over the years, and you want to be absolutely sure that every aspect of your business is covered at all times.