Minnesota may be the Land of 10,000 Lakes, but it is also farm country, too. Agriculture is an important part of the state’s economy, from sprawling operations to small hobby farms, talk to an agent at Great Lakes Insurance to get the coverage you need. As a local agency, we know the risks you face farming in Minnesota. We look for quality farm insurance that mitigates your risks and provides competitive rates that protect your bottom line.
Covering Farms Against Agricultural and Business Hazards
There is much at stake when you own a farm. You cows could get loose in the middle of the night and cause a roadway accident. A drought could destroy your crop yields. A guest could become injured when touring your property. In all of these instances, you could face major financial losses without the right insurance.
At Great Lakes Insurance, we know the challenges you face as the head of your farm or ranch. We work closely with you to understand your business and the threats against it so that we can develop custom-tailored policies specifically for your needs. We can find coverage for a wide range of farm types, including:
- Crop farms
- Mixed farms
- Dairy farms
- Chicken and poultry farms
- Cattle ranches
- Equine Stables
- And more
From borrowed machinery damages to accusations of wrongful animal treatment and custody, we understand the risks specific to your industry.
Types of Coverage for Minnesota Farm Owners
Many farms in Minnesota are family operated, and the owners often live on the same grounds as the farm itself. Your tilling equipment might be stored next to your personal vehicle. Your kids and their friends might play in the fields that hold your cattle. Because there is a blend of personal and business property and liability, having the right insurance is essential. Depending on your unique circumstances and risks, we can help you build an insurance portfolio that protects the things that matter most. Your coverage may include protection for:
Your stables, hay barn, sheds, silos, and other structures would be costly to replace if destroyed or damaged by a heavy storm. Be prepared for disaster to strike with insurance that compensates you for the loss or damage of business structures on your property.
Minnesota requires most employers to purchase insurance that protects employees against workplace injuries and related illness. Accidents are a major hazard when working with heavy equipment and animals. If one of your workers is injured on the job, workers compensation insurance can help pay for necessary medical care and time off work to recover, regardless of who was at fault for the incident. By accepting workers compensation payments, workers are also less likely to pursue additional compensation from you as an employer through means of litigation.
Farm Trucks, ATVs, UTVs, and Other Equipment
Most farm owners have one or more vehicles used in the course of business, as well as some heavy machinery and equipment. Whether you need to find coverage for your horse trailers, want commercial insurance for your work truck, or need to protect your expensive equipment against theft and damage, talk to your agent about coverage options.
Business Interruption Insurance
When circumstances outside your control hamper your ability to do business, your cash flow is likely to suffer. Business interruption insurance is designed to pay your ongoing expenses in place of lost revenue due to a covered event until you can resume normal operations again.
General Liability (GL)
Virtually all business owners need general liability insurance to protect against third-party litigation. One lawsuit could sink your farming business if you lose your defense – unless you have the right insurance coverage. GL coverage can help pay for your legal defense and court costs if you are sued for third-party injuries and property damages – even if you win your case. If you lose your case, GL can also cover judgments against you up to the limits of your policy.
Some farms need additional liability specifically designed for their unique risks. For example, a crop farmer might need chemical drift liability insurance in case pesticides, and other chemicals pollute surrounding areas. Likewise, a dairy and cattle farmer might need product liability insurance in case the eggs, milk, or meat they sell is found to be contaminated.
Dwelling and Personal Property
Your house may not be a part of your business, but the lines between home and business can blur when you live on your farm. While you are establishing your farm insurance protection, we can also help you get coverage for your personal property and dwelling to help minimize gaps between the two.
Farm Insurance Quotes
Don’t throw caution to the wind when it comes to your farm’s future and the continuity of your business. Minnesota farms and ranches are a valuable part of the economy, and we want to do our part to help support it. Let us help you protect what you have worked so hard to build and minimize your financial risk vulnerabilities. At Great Lakes Insurance, we offer comprehensive farm protection that shields your assets and income against a wide range of potential losses – giving you peace of mind and confidence to make the right decisions to move your business forward for years to come.
Contact our office today to find out more or to request your custom quotes. We look forward to serving you soon.