Your farm or ranch is a complex operation that requires specialized insurance—farm and ranch insurance. Whether you are a farmer who grows corn or a rancher with a big ranch to raise cattle, the land is your source of income. To keep any business running smoothly in Texas, McCrary Insurance Agency recommends understanding your needs, risks, and goals and buying the correct amount of insurance.
Farm and ranch insurance is similar to a home insurance policy but highly customized to include farm equipment, livestock, and buildings. All areas of your home are also covered, so you don’t need to buy home insurance. That’s why the policy comes as a package policy that combines several coverages in one contract. Generally, everything on your farm and ranch is protected by the same policy.
Some basic coverages in your policy include:
Note that crops are not covered, and machinery or equipment that is not well maintained will not be compensated. While fire is usually covered in the policy, some factors could affect your compensation, such as roads leading to your farm and water availability or proximity to your farm. If your field is too muddy or covered in snow, you may not be fully compensated.
Depending on the size of your Texas farm or ranch, livestock, and household property, what you pay is not what your neighbor will pay, as insurance companies use different criteria to calculate your premium rates. Before settling to buy the policy, assess and calculate the value of your ranch if you were to sell it and buy insurance that equals that amount. Don’t forget to pay special attention to the coverages that matter the most to your farm or ranch.
Don’t wait until a disaster strikes your farm to buy the right policy. Contact McCrary Insurance Agency, and our team of professionals will be happy to ensure all your farm and ranch insurance needs are met. Please schedule your appointment with us today.