A farm insurance policy is flexible and can be customized to cover many things. It can cover a house, outbuildings and barns, farm equipment, livestock, and liability related to agricultural and farming activities. It can even cover crops, though only after they’ve been harvested and are being stored. Crops in the field are covered by crop insurance. All types of farming equipment can be covered either specifically or together with blanket coverage. For larger agribusinesses, farm insurance will be combined with commercial insurance that may include commercial auto coverage for trucks and commercial general liability.

Every type of insurance has certain exclusions, or things that aren’t covered. Some of these are extremely unlikely, such as nuclear war, while other exclusions such as water damage can be added onto your policy for an extra charge. If you have an agribusiness with commercial risk exposures, you’ll probably also need some commercial insurance, because business activities aren’t covered under farm insurance

If you do any type of farming activity, even if it’s just for fun or on the side, then you should probably buy farm or ranch insurance. If you do any type of farming activity for money, then you’ll definitely want farm or ranch insurance to cover you for liability. Standard homeowners insurance or commercial insurance doesn’t cover farming activities or equipment, so you’ll need to buy farm insurance if you own farm equipment, own acreage, or engage in farming activities.