What You Need to Know About Farm Insurance

It’s no secret that farming is a rewarding career. You are using your own two hands to tend to land, crops and livestock to produce food and other products for your community and beyond. Farming is not only an essential part of Canada’s economy but also its identity! 

With this in mind, it’s evident that all types of farming operations are complex and diverse, whether it be a small hobby farm or a large corporate agricultural business. Modern-day farming, especially, comes with several new types of risks and liabilities as it incorporates new science and technology into its field. 

And with a business and lifestyle as diverse and risky as this, you need farm insurance that mirrors just that. Insurance Hero works with some of Canada’s leading insurance companies to bring cost-effective, comprehensive farm insurance quotes directly to you.

Insurance Coverage Options

Finding farm insurance in Ontario is easy when you partner with our super Insurance Hero team. As your local insurance experts, we make sure to ask the right questions to understand your requirements and ensure that you get the best coverage for your business. We know we can find you the right coverage at the right price.  

What is farm insurance?

Farming is a unique business in that it’s not like other businesses, and as such, it requires a comprehensive insurance plan designed to meet farmers’ needs. Farm insurance is designed specifically for farmers or people who own farmland to protect their assets, such as their legal liability, buildings, machinery, livestock, produce and more. It protects you against the many various risks that come with farming, both big and small, such as a wild animal attack, a destructive storm or an unforeseen legal claim from an injured guest. As such, it is essential for farmers to invest in farm insurance.

What is covered under farm insurance?

Standard farm insurance starts with general liability insurance and farm property insurance. After that, there are many additional insurance coverages farmers can add to their policy depending on the type of farm they have. Here’s what’s generally covered by farm insurance: 

1. Liability Insurance

In the event you are found legally responsible for a bodily injury or property damage, liability coverage protects you and your business from financial ruin. It covers any associated legal fees and medical expenses. There are three types of liability coverage that protect farmers:

  • General Liability – protects you against claims of bodily injury or property damage that occurs while on your property to farmers, employees, guests or customers.
  • Commercial Business Liability – adding this to general liability protects you, your business and your employees if they are found legally liable for causing bodily injury or property damage.
  • Product Liability Insurance – protects you against claims of injury due to a defective or hazardous product (e.g. contaminated produce). 

Another worthwhile but optional liability policy is a farmer’s market or vendor market liability insurance policy if you plan to sell your products at your local farmer’s market. 

2. Commercial Property Insurance

Property insurance protects your homes and other buildings or structures on your farm and the contents inside from such perils as:

  • Floods
  • Fires
  • Severe weather
  • Vandalism
  • Theft

Commercial property insurance also includes business interruption should you have to temporarily shut down your business or be unable to work due to an illness or injury. Business interruption coverage will help offset any ongoing costs, such as bills, employee wages, etc.

In addition, it covers farming equipment, tools and vehicles. If you have cars that are used by yourself or employees for work-related purposes, keep in mind that you may need commercial auto insurance

3. Farm Produce & Livestock Insurance

Produce coverage will protect your harvested grain, hay, fertilizer and seed against loss or damage. 

In the event of death or injury to domesticated farm animals, such as cattle, horses, sheep and pigs, livestock coverage pays to replace livestock that was stolen, died or had to be put down due to an illness or contamination.

Does farm insurance cover crops or livestock damage?

Yes. As mentioned already, farm insurance does protect crops and livestock. Raising livestock and growing crops both come with many risks. Some of these include:

  • Contamination
  • Disease
  • Lightning/Fire/Explosions
  • Tornado/Windstorm/Hail
  • Floods
  • Accidental Shootings
  • Theft
  • Vandalism or malicious acts
  • Accidental drowning
  • and more

It is essential that you have enough coverage to protect your produce and entire livestock, as they are often very expensive to replace. Don’t allow coverage limitations to hold you back; instead, let Insurance Hero save not just the day but also your livelihood!

Get a Farm Insurance Quote Today

The type of farm insurance you need will depend on several variables, such as the size of your farm and whether you have livestock, crops, farm equipment or outbuildings. Let Insurance Hero help you determine what kind of coverage is best for you!

For reliable, affordable Ontario farm insurance, please request a quote online or give us a call at 1-855-777-4376. Our team of Insurance Heroes is happy to answer any questions you have!

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Business Insurance

All businesses within Ontario are required to purchase general liability insurance to operate. Therefore, if you own a business in Elliot Lake, you must at least have liability insurance. Business insurance coverage starts with the following:

  • Commercial General Liability 
  • Business Property Coverage
  • Equipment Breakdown Coverage 

Home Insurance

While you are not legally required to have homeowners’ insurance in the province of Ontario, you may need one to qualify for a mortgage. Protecting one of your most valuable possessions is essential against unexpected perils that could destroy or damage your home. Basic home insurance coverage in Elliot Lake, Ontario, includes:

  • Dwelling 
  • Contents 
  • Personal Liability

Get an Insurance Quote in Elliot Lake, Ontario, Today

No matter what type of insurance you need in Elliot Lake, Ontario, our licenced professionals at Insurance Hero are ready to find you the best coverage to fit your needs and budget. With Insurance Hero, the more you bundle, the more you save – Apply today!

To learn more about how Insurance Hero can help customize a comprehensive insurance plan for you, your family, or your business, get your free quote or call us at 1-855-777-4376.