WN Insurance Services
Farm and Ranch Insurance in Texas
What is farm and ranch insurance?
Operating a ranch demands considerable investment, and that investment is exposed to risks such as vandalism, rustling, wind, fire and more. It’s essential to protect a farm and all that’s poured into it whenever possible. Farm and ranch insurance offers Texas ranchers a way to safeguard their businesses and themselves from various potential risks.
Farm and ranch insurance provides tailor-made coverage for ranchers and other agricultural operations. Policies can provide farm equipment insurance, liability insurance, livestock insurance and more.
What Texas ranches should carry a farm and ranch policy?
Most Texas ranchers and farmers should have this type of insurance. Farm and ranch policies can cover a wide array of agricultural businesses. For example, any of the following might benefit from having this type of policy:
- Cattle ranchers
- Horse ranchers
- Specialty animal ranchers
- Organic farms
- Conventional farms
- Urban growers
- Homesteaders
- Hobby ranchers
While farm and ranch policies are normally available for all of these businesses, it’s important to select a policy that’s tailored to a specific business. An insurance agent who specializes in these policies can help select the best policy for your business needs.
What coverages are available to ranchers through farm and ranch policies?
Ranches require multiple coverages, and most ranch insurance policies feature several coverages that come together. Most of these can be classified into property, liability and personal insurance for ranchers.
Property insurance typically covers ranch-owned assets, excluding personal housing or possessions. Some commonly available property coverages include:
- Barn and Outbuilding Coverage: May cover barns, stables, sheds and simlar non-residential structures
- Ranch Contents Coverage: May cover equipment, tools, machinery, animal feed, livestock and other non-personal possessions
- Commercial Vehicle Coverage: May cover ranch-owned flatbeds, pickups, box trucks, livestock trailers and equipment trailers
- Livestock Coverage: May cover individual animals or herds in case of their catastrophic death due to certain causes
- Equipment Breakdown Coverage: May cover unexpected malfunctions of tractors or other vital equipment
- Loss of Business Income Coverage: May cover prolonged loss of income after a disaster
Liability insurance for ranchers is typically used to protect against situations where a rancher could be held financially responsible. Some liability coverages commonly found in these policies are:
- General Liability Coverage: Might cover common accidents that occur on a ranch’s property
- Product Liability Coverage: Might cover consumer goods produced on-site at a ranch in the event that they cause injury, death or damage
- Commercial Umbrella Liability Coverage: Might cover expensive lawsuits with secondary protection
Personal insurance for ranchers usually protects family-owned items, rather than ranch-owned ones. Two commonly purchased personal insurance coverages include:
- Household Dwelling Coverage: May cover a ranch house, farmhouse or similar building located on a ranch
- Household Personal Property Coverage: May cover household belongings, possibly including clothing, kitchenware, furniture and similar items
What types of equipment can farm equipment insurance extend to?
Farm equipment insurance can cover most types of agricultural equipment used on a ranch. Coverage could extend to tractors, harvesters, balers, backhoes, forklifts and similar equipment. Vehicles driven on public roads normally fall under commercial vehicle coverage.
How much does ranch insurance cost?
Premiums for ranch insurance policies vary significantly, as they’re based on numerous criteria. A ranch’s location, size, equipment, livestock and produced goods are just some of the factors that can influence cost.
The most straightforward way to determine the cost of insuring a specific ranch is to consult an independent insurance agent. Independent agents aren’t tied to any one insurance company, so they can compare suitable quotes from multiple insurers.
How can Texas ranchers obtain farm and ranch insurance?
For assistance with insuring a Texas ranch, contact the independent insurance agents at WN Insurance. Our agents will help you identify the coverages your ranch needs. We’ll then review several farm and ranch insurance policies with you and aid in selecting the best one based on coverages and costs.