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Farm Vs Commercial Insurance


Do you operate a farming business and a “non-farming” business? Did you know that this is vital information that you need to inform your insurance broker with? All policies contain limitations and one of the very basic ones is that a farm policy is set up to cover farm exposures. A commercial policy is to cover business risks.

A farm policy will not automatically cover business operations. It is not to say that it can’t but you need to discuss and make arrangements for the added exposure. Otherwise, the insurance policy may not respond at the time of a loss.

A few examples of business operations are custom combining, doing business work in your farm shop, storing business use machinery in your farm machine shed or this could mean selling a product from you home. In any of these situations you may find yourself without insurance coverage. You do the math, what is your combine, workshop or house worth? Talk to your insurance broker about your off-farm pursuits today!

Be sure to seek advice and purchase insurance from an insurance broker who understands your business!