When you buy a home, you get homeowners insurance to cover it against fire, flood, and other dangers, so it makes sense that you would do the same if you buy a farm but the insurance for a farm is a little different then your homeowner's policy. You will need to cover more property and the value will most likely be much higher than a single family home. If you are considering insuring your farm, here are a few things you should understand:

What is Covered

The coverage for your farm is not defined in a blanket policy so understanding what is covered is important. You can get coverage for the buildings, the equipment, and even the property but you will need to decide what you want when you buy the policy. Make sure you ask the agent what your coverage is if you are not clear on the language used in the policy. Having an insurance policy that you think covers you and finding out later that it doesn't, is not good. Being informed is the best solution to avoiding that situation.

Weather, Mother Nature, Or Acts Of God

Depending on the location of your farm, you may have to be aware of things like tornadoes, hurricanes, wildfires, or earthquakes, just to name a few. Getting insurance coverage for this situations is possible but you need to talk with the agent that is putting the policy together. If you live in an area that is prone to flooding, has a high likelihood of tornadoes, or you have some other concern, see what coverage is available. Many times the agent will know what needs to be covered for your area but remember that you are the one that will benefit or suffer if the farm is damaged. The policy needs to cover it or you may be stuck trying to make repairs at your own cost.

Livestock and Animals

Check with your carrier for this but there are some companies that offer farm property riders that will cover your livestock if they are affected by a natural disaster that happens on your farm. A landslide, weather or other naturally occurring events can often affect the livestock on your farm. Getting insurance that will let you replace animals that are killed is a good way to ensure you continue operating your farm or ranch if something like this happens. If you operate a dairy and lose fifty cows in a natural disaster, you want to be able to replace them and keep your farm operating so you can still pay the bills and make a living.

What About Your Contents

The contents inside the home on the farm or in other buildings can also be covered on your policy. Just like a homeowners policy, the insurance can cover theft, fire, water damage, or what ever else you feel you need. The level at which these items can be covered will vary so be sure to ask questions so you understand your coverage before buying the policy.

Check out a website like http://www.wrg-ins.com/ for more information and assistance.