For many of us, shopping for insurance ranks right up there with going to the dentist. It can be intimidating and confusing, so many people either ignore it or choose the easiest option. Unfortunately, accidents happen.
Having the right insurance coverage can protect you from risk in today’s litigious climate.
In the current economy, many small farm owners are looking at different ways to bring in extra income. Maybe you’re considering boarding a couple horses in that empty pasture, offering U-pick during the season, selling produce or farm products, leasing your barn for weddings and events or renting out RV space on your farm.
Tapping into a new income stream is exciting and may provide economic relief, but it can also have unexpected risk exposure. To learn common insurance mistakes and how to avoid them, we turned to Chris Moore, president of the farm and ranch division of EPIC Insurance Brokers & Consultants, which has offices across the country.
Common mistakes include: • not having coverage for your specific risks • not informing your insurance agent about what you’re doing with your property/business venture
• not updating coverage when risk exposure changes
FARM & RANCH COVERAGE
When starting a small or hobby farm business, many people rely on their personal homeowner’s insurance.
“While that may cover your home and personal property, it could leave you exposed and it doesn’t properly address the farming and business activities taking place on your premises or away from it,” Moore says.
The right choice is a Farm and Ranch policy, which covers the residence and contents, structures on the property as well as liability coverage. A farm policy can be tailored to your specific operation, whether you’re raising a few goats on 5 acres or growing crops on hundreds of acres.
Denne historien er fra January - February 2025-utgaven av Hobby Farms.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra January - February 2025-utgaven av Hobby Farms.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
The RISE of Opportunist WEEDS
Be prepared to see increasing changes in weeds we fight, such as poison hemlock and poison ivy, and in the crops we grow.
LIVESTOCK Health
Prepare yourself for how to spot symptoms of illness in your farm animals so that you can get them help before it's too late.
CUT FLOWER Farming
If you're considering growing flowers for sale, brush up on these five key things to know before diving in.
WINTER Survival
Keep your land, animals and yourself in good shape this winter with this helpful advice.
COVERAGE CONCERNS
Avoid common insurance mistakes for rural and hobby farm businesses.
FARMER'S GUIDE Berries
Set the stage for tasty strawberries, blueberries and brambles with these soil-boosting garden tips.
Preconditioning CALVES
Follow our step-by-step guide to get more money for your calves.
Soil Conservation
Often, outside of having a specific problem that needs to be addressed, soil conservation isn't something every farmer readily thinks about. Yet conserving the soil should be at or near the top of every farmer owner or manager's list of concerns because absent the prevention of soil erosion, we have the opportunity for another dust bowl.
Year-Round Lettuce & Salad Mixes
It's easy to think of salad greens as just a spring- or fall-garden crop, but it's possible to enjoy freshly harvested lettuces, mustards and more from your own garden year-round.
Barn Improvements
Days are never long enough for a farmer. From dawn to well into the night, tasks arise that often require immediate action. Having to search for tools or equipment is an enormous time waster and incredibly frustrating when you can't find what you need, especially when you know you have it.
