Farm Insurance in Jerome, ID
Farm insurance is an essential safeguard for agricultural operations, offering financial protection against the myriad of risks that farmers face daily. Understanding the different types of coverage and factors that influence the cost of farm insurance can help farmers make informed decisions to protect their livelihoods.
What Is Farm Insurance? 
Farm insurance is designed to financially protect farmers and ranchers from various risks associated with their agricultural operations. It typically encompasses a combination of property, liability and specialized coverage tailored to the unique needs of farming and ranching.
What Does Farm Insurance Offer?
Common components of farm insurance include the following:
- Property insurance can help financially cover farm buildings, equipment and personal property against risks like fire, theft and severe weather events.
- Liability insurance can financially protect against legal liability for accidents or injuries that occur on the farm.
- Crop insurance can provide financial coverage for loss of or damage to crops due to events like hail, drought or disease.
- Livestock insurance may financially cover the loss of livestock due to accidents, illness or theft.
- Farm vehicle insurance can help financially cover vehicles used for farming operations, such as tractors and trucks.
Farm insurance policies can be customized to fit the specific needs of different types of farms, whether they are small hobby farms or large commercial operations.
What Does Farm Property Insurance Cover?
Farm property insurance typically covers a wide range of assets associated with farming operations, including:
- Farm buildings and structures
- Farm equipment and machinery
- Items used in the farming operation, such as tools, supplies and inventory
- Farm products (e.g., harvested crops, seeds and animal feed)
- Farm dwellings
- Detached structures
- Trees, shrubs and lawns
How Much Does Farm Insurance Cost?
The following factors can influence the cost of farm insurance:
- Farm size and type
- Location
- Coverage limits
- Deductibles
- Claims history
- Type of crops and livestock
- Safety and security measures
Learn More
Contact Prescott & Craig, Inc. to discuss your farm insurance portfolio.