Farm Insurance in Providence, RI

As a farmer, you’re likely well-versed in the risks and exposures of daily tasks and seasonal operations. However, despite your extensive experience and dedicated diligence, accidents and other unforeseen issues may sometimes be unavoidable. Farm insurance should be a top priority given the inherent dangers of farming operations and the potentially far-reaching financial ramifications of even slight mishaps.

What Is Farm Insurance?

Farm insurance is a general term used to refer to the various policies and coverages your business may require to protect its financial interests. Although some insurance carriers may offer packages tailored to address risks and perils relevant to farming, you should be prepared to customize your coverage portfolio according to your business’s unique specifications and operations.

What Does My Insurance Cover?

While you’ll likely need to compile your own insurance package to address the specific needs and circumstances of your farm, most in this industry may require certain coverages. As you begin putting together this critical aspect of your risk management and loss control measures, consider starting with the following:

• Commercial property insurance—This type of policy can cover your farm’s buildings, including barns, sheds and silos, as well as tools, equipment and inventory.
• Farm dwelling insurance—If you live on your farm, this coverage can assist with losses involving your residence.
• General liability insurance—This part of your coverage can compensate third parties for bodily injuries, property damage and reputational harm caused by your business or employees.
• Livestock insurance—If you raise animals, these policies can help recoup losses for injuries or fatalities arising from various incidents, including fires, accidents and diseases.
• Crop insurance—Your insurance should generally include this coverage, which can compensate you for low crop yields, market fluctuations and damaged harvests.
• Workers’ compensation insurance—Legally required in many cases, this type of insurance can help pay for losses if farm workers are injured or develop an illness on the job.
• Commercial auto insurance—This coverage can assist with losses and damages from incidents involving your farm’s motor vehicles.

How Much Does Farm Insurance Cost?

Farm insurance premiums typically depend on your coverage needs and how risky insurers consider your business. The quoting process often considers the following:

• Location
• Acreage
• Operational details (e.g., crops grown and livestock raised)
• Number of employees
• Claims history
• Coverage limits
• Deductibles

We’re Here to Help

Contact Lefebvre Insurance Agency, Inc. today to learn more about coverage options or get a free quote.