Farm & Ranch Insurance | Agribusiness Insurance | Difference Between Insurances | Contact Us
What is Farm & Ranch Insurance?
Farm and ranch insurance is a hybrid that protects both personal and commercial exposures. Like homeowners coverage, it can protect your home, possessions, and personal liability if related to the farm or ranch operation. It also extends to machinery and livestock associated with your operation.
What is Covered with Farm & Ranch Insurance?
Agribusiness insurance helps protect larger, more complex agricultural operations and provides peace of mind for stakeholders such as shareholders and lenders. Disruptions from weather to mechanical breakdown can reduce profits and jeopardize continuity.
Difference Between Agribusiness and Farm & Ranch Insurance
Agribusiness insurance addresses the vulnerabilities of larger, corporate-style operations, while farm and ranch policies typically fit smaller entities.
Key distinctions:
- Size: Family farms are typically smaller than agribusiness and may require less complex coverage.
- Structure: Family farms tend to serve local markets; agribusiness can operate at local, national, and global scale.
- Planting: Agribusiness often focuses on a single crop type; family farms are more diverse.
- Financial: Agribusiness operates like a corporation and may have shareholders; family farms focus on minimizing losses and reinvesting in maintenance and upkeep.
Both are important. An experienced underwriter can help determine the right fit.