Agricultural Equipment Insurance
Definition - What does Agricultural Equipment Insurance mean?
Agricultural equipment insurance is a policy that covers tools and machinery for farming once they are damaged. These tools and machinery must be necessary in order for the farming business to operate. The insured has the choice to select the items he or she wants covered or cover all farming equipment.
Insuranceopedia explains Agricultural Equipment Insurance
This is also called farming equipment insurance.
Agricultural equipment refers to any device, tool, equipment, and machinery used for farming. These may include but are not limited to tractors, sprayers, mowers, conveyor belts, and farm trucks.
The damage to any of this equipment may be attributed to natural disasters like storm or criminal acts like theft.
The policyholder can choose between a blanket policy where every piece of equipment is covered or a specific policy where the insured determines what items should be covered.