Farming, ranching, and running an agribusiness are rewarding lines of work. However, they are also high-risk industries. Accidents involving heavy equipment, slips and falls, encounters with livestock, and other hazards cause many injuries and fatalities each year. Farm liability insurance can help cover some of these losses, but when damages exceed your primary policy limits, umbrella insurance provides the extra protection you need.
What Is Umbrella Insurance?
Umbrella insurance works with your commercial farm policy to increase your liability limits for certain types of claims. There are umbrella coverage options specifically designed for farmers and ranchers. These policies can help cover accidents involving machinery and equipment, injuries or property damage caused by farm animals, and lawsuits related to claims of illness from consuming food grown or sold by your farm or agribusiness.
Carefully review the terms and conditions before purchasing a policy to make sure it covers the specific risks associated with your farm or ranch. It is also important to understand that umbrella insurance does not replace your underlying commercial policies. If you do not have the appropriate base coverage, umbrella insurance cannot provide additional protection. For example, you must have liability coverage for your equipment if you want your umbrella policy to extend to machinery-related claims.
Need Help? Davidson Insurance Agency in Evergreen Can Help
Davidson Insurance Agency is a family-owned business proudly serving clients in and around Evergreen, CO. We help farmers, ranchers, and agribusiness owners find comprehensive coverage that provides strong financial protection. Contact us today to learn more or to begin the process of securing the right insurance for your operation.
