Farmowners And Ranchowners Insurance

What Does Farmowners And Ranchowners Insurance Mean?

Farmowners and ranchowners insurance protects farm and ranch owners from losses involving their barns, stables, fences, and other structures on their property. This type of insurance also includes liability protection.

Insuranceopedia Explains Farmowners And Ranchowners Insurance

Although farms and ranches typically cover large tracts of land, these properties remain vulnerable to damage. For instance, a storm could cause part of a barn to collapse, or a fire could destroy a stable. Additionally, a farmhand or visitor to the farm might sustain an injury on the property. Farmowners and ranchowners insurance provides protection against all of these potential losses, giving farmers the confidence to invest in structures on their farms. Because the policy bundles property and liability coverage together, owners with employees or larger commercial operations sometimes carry a separate general liability insurance policy for claims tied to the business side of the farm. Operations that grow crops also commonly buy revenue protection crop insurance, which covers income losses caused by poor yields or falling commodity prices.