I am only renting a farm and do not have significant assets. Do I need a farmowners policy?
Yes, you do need a farmowner’s policy, regardless of the value of your farm assets. You should insure your farm assets against loss. However, in today’s society, the important coverage in any insurance policy is the liability protection. How would you pay for damages done by the steer that got loose through the opening in the pasture fence? Or how about the milk contamination in the bulk tank driver’s last load? Or even damage to another vehicle caused by your tractor and equipment out on the road?
Related Questions
- When I make a payment on my State Farm Variable Universal Life policy or my State Farm Variable Deferred Annuity using EBPP, when will that payment be credited to my policy or annuity?
- I am operating a non-farm related business from my farm. Does my farmowners policy automatically cover these activities?
- I am only renting a farm and do not have significant assets. Do I need a farmowners policy?
