We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.
Business

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

What is Agribusiness Insurance?

Mary McMahon
By
Updated: May 17, 2024
Views: 2,183
Share

Agribusiness insurance is a large family of insurance products targeted at people working in the agriculture business, including farmers, ranchers, people working with horses, and so forth. These insurance products are designed to be flexible so they can be tailored to specific applications ranging from chicken farms to organic orchards. A number of insurance companies offer some form of agribusiness insurance and some specialize in it, often using agents with extensive experience in the industry to ensure that people get the coverage they need.

There are a number of risks associated with agribusiness. People can experience losses due to weather, disease, and related problems, in addition to losing out when prices fall and people can no longer sell the proceeds of a farm. Equipment damage, worker injuries, and structural damage are also concerns, as are issues like pollution liability. Agriculture can be unpredictable, and rapidly changing conditions may leave a farmer behind. Agribusiness insurance includes a range of products intended to address these various concerns.

A typical agribusiness insurance plan will provide coverage for losses and thefts along with liability insurance. Costs for the coverage vary depending on the amount people wish to insure for and the potential loss exposure for the insurance company. Insuring small farms tends to be less expensive and people may receive rebates on their insurance as incentives for activities like implementing worker safety programs, using more automated equipment for dangerous tasks, or building structures that exceed building standards.

This insurance can be purchased by people who own, as well as lease, land and equipment for agriculture, and can also cover employees who are working on the farm. Specialized products are available for high value items, like race horses and animals such as bulls used at stud. These insurance products recognize that the loss of an extremely valuable animal can represent a significant blow to a business and handle such animals separately from general livestock.

When people seek out agribusiness insurance, they are usually encouraged to get quotes from multiple providers. It is helpful to get detailed rundowns on various types of coverage available along with disclosures about premiums and deductibles. This information can be used in a side by side comparison to pick a suitable insurance product. Insurance agents can also provide advice about coverage people may not have considered, making their clients aware of special issues to make sure they are thoroughly covered for as many conceivable events as possible.

Share
WiseGeek is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Mary McMahon
By Mary McMahon

Ever since she began contributing to the site several years ago, Mary has embraced the exciting challenge of being a WiseGeek researcher and writer. Mary has a liberal arts degree from Goddard College and spends her free time reading, cooking, and exploring the great outdoors.

Editors' Picks

Discussion Comments
Mary McMahon
Mary McMahon

Ever since she began contributing to the site several years ago, Mary has embraced the exciting challenge of being a...

Learn more
Share
https://www.wisegeek.net/what-is-agribusiness-insurance.htm
Copy this link
WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.

WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.