![]() Weather events: Lightning, wind, hail, tornadoes and more.Typically, floods and earthquakes are covered under a separate policy. Natural disasters: Volcanic eruptions and sinkholes.Accidents: This can be anything from coverage for electrocution, fire, or smoke, to loading and unloading of livestock.What your livestock insurance generally covers: Now you need to know what the policy will actually cover and what it won't. When it comes to insuring your livestock, you should now have a pretty good idea of what goes into it. What Does and Doesn't Livestock Insurance Cover? Speaking with your independent insurance agent will get you better estimates on coverage and pricing. Every hobby farmer has different needs, and that means different premium pricing. The cost of insuring them, however, all depends on your livestock's specifics, like what they're worth and how much coverage you need exactly. Now that you know how much one study calculated in value for one short period, then you can imagine why insurance is such an important thing to have on your livestock. While your hobby farm may be a tiny piece of this pie, you'll still be interested to know how much that pie costs. For cattle alone, the value is over one hundred million dollars. Let's take a moment to look over some cold, hard facts on livestock values throughout the United States. Discussing with the seller whose insurance policy would pick up coverage while the livestock is in transit and before they are actually passed off to your hobby farm is a key conversation to have. If you're looking at acquiring livestock and don't have them in your possession quite yet, then coverage will depend on who still technically owns them. If you have livestock already and they aren't insured, then you'll need to get a policy in place as fast as you can get your independent insurance agent on the line. Request a quote When to Insure Your Livestock Your independent insurance agent will need to know the following to get started: So whether you have a prize-winning steed or your typical Prime beef, your coverage needs to apply adequately. You'll want to start by having your independent insurance agent look at pricing and coverages for your livestock's specifications. Protecting them is key to making sure your hobby farm is successful, even if you're doing it in your leisure time. Insuring your hobby farm is one thing, but your livestock? How does that even work, you may be wondering, but there are policies for your animals. How to Insure Your Hobby Farm's Livestock Make sure you understand the details of your coverage. Keep in mind that some hobby farm policies may cover certain broad perils, but exclude sickness and disease. Obviously, the per-head price for an individual policy will be more than the per-head cost of a blanket or herd policy. ![]() Your per-head cost will be determined by the coverage you choose. This coverage allows you to insure a specific number of animals, for example, 10 dairy cows or 10 goats. Herd Coverage: This is the simplest and most prevalent type of insurance for livestock.It includes structures, equipment, tools and livestock. Blanket coverage: This type of policy allows you to insure all your hobby farm property for a predetermined value.The animals are listed on the policy according to some identifying marker or description, such as an ear tag, and covered for a specific dollar amount. Individual coverage: This insurance usually covers higher-value animals on an individual basis.There are three ways to cover your animals: Some insurers may include a more comprehensive animal mortality policy that includes sickness and disease, or policy options for a specialized type of animal. Normally, these can be combined into a hobby farm insurance package that will protect your facilities, structures and livestock or poultry in the event of death caused by accident or injury. The starting point for your hobby farm will probably be farm or farm operations coverage and a limited animal mortality policy. There are blanket coverages that apply to most livestock and poultry, and specialty coverages for specific groups of farm animals, such as cattle, sheep, goats, pigs, hogs, chickens, and even emus. Understanding Livestock InsuranceĬattle and other livestock face mortality risks caused by accidents, sickness and disease. ![]() But before you have that conversation, here's a bit of background to give you a better understanding. Your independent insurance agent is a knowledgeable resource when it comes to insuring all aspects of your hobby farm, including your livestock. Don't worry about it, an independent insurance agent can help walk you through it all and even discover a few things you may have never expected. After all, they are living, breathing animals. ![]() If your hobby farm has livestock, you may be wondering just how to insure it all. ![]()
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