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Covering Your Farm with Commercial Property Insurance

By February 14, 2017October 6th, 2020Insurance

FarmhouseHarvesting crops

As an agricultural professional, your business relies on stable conditions for optimal output. Your crops, livestock and other property are all sensitive and expensive assets. You can’t afford to lose them to a peril.

Commercial property insurance can help you protect your assets if you farm for a living. This type of coverage can protect you in case you lose livestock, machinery and even some of your crops.

Most commercial property insurance policies cover you from certain protected perils. The most common protected perils are fire, theft and weather damages. Farmers and ranchers often face these perils in present and unique circumstances.

You will appreciate commercial property insurance when an unforeseen peril occurs. However, you should do all you can in the meantime to help prevent the potential damages from perils.

If you can lessen or prevent damages, your insurance coverage will be more likely to help you. Keep these tips in mind when securing your farm to prevent perils:

  • Know basic agricultural fire safety. Sensible cleaning of barns and harvesting areas can help prevent flash fires. By clearing dry crops on time, you can prevent wildfires from forming. If you burn trash on your property, do so only in areas away from structures. Also, only burn when weather conditions are safe to do so.
  • If you use candlelight, always properly extinguish these lights before leaving a building. If you use electricity, make sure your wiring and outlets are functioning. Also, store all fertilizer and chemicals in fire-safe areas. These items are often very flammable.
  • Store equipment like threshers, tractors and other appliances in locked and monitored areas. Service and protect these items according to manufacturer’s directions.
  • Keep an inventory of the products you produce and what you have on hand every day. You can easily document losses should one occur.
  • Ensure structures like barns, well houses, garages and storage sheds are structurally safe. Reinforce them to withstand severe weather.
  • If severe weather threatens, make sure your animals are secure. Many farm animals can find their own shelter in seasonal weather. However, if extraordinary circumstances like floods, blizzards and tornadoes threaten, jump into action. Move the animals to secure areas.
  • Install proper theft deterrent techniques. You can electrify fences, brand animals, and install burglar alarms in storage areas.

Commercial property insurance can help protect your farm in case unforeseen perils arise. The more you do to protect the property, the better the chance of maximizing insurance claims.

If you would like to learn more about commercial property insurance, give us a call at (405) 373-2977 for the best Oklahoma farm insurance quotes.