If there is one thing that is certain about life, it is that life is so uncertain. That is why it is crucial to hope for the best, but always prepare for the worst- especially in areas of life where you have a lot to lose. This is why farm insurance was created. For many farmers, their farms are not only their sources of income- but also their homes and livelihood. Farm insurance allows farmers to protect themselves from risks that can threaten their farms, property on their farms, and also protect them from liabilities that can arise from owning a farm.
Not only does farm insurance cover the machinery, livestock, grain, and farm tools (as pertains to the farming process), but it also covers you in the case of legal liability. It is not uncommon for expensive and much- needed machinery to break, or worse for someone to get injured or harmed. Farm insurance covers both the replacement costs of equipment, but also any legal liabilities for the equipment or bodily injury that occurred on the premise. It is important to have this protection in place, so that you are not hit with an unexpected, huge bill to be payed.
Beyond farm equipment and personal injury, farm insurance takes into account that for many farmers, their farms are not only their places of work, but also their homes. That is why damages to personal belongings are also covered- if you happen to live on the farm. This includes clothes, furniture, appliances, and much more.
On the premise that you should always cover yourself from risks that could destroy your most valuable property or put you in a tremendous amount of debt, farm insurance is widely regarded as an absolute necessity for farmers.