On some operations, livestock are the most valuable commodity. However, raising livestock can be unpredictable and risky. This is why livestock protection is a necessity to protect from the unexpected events and accidents that can result in losses.
Livestock insurance covers losses from a variety of incidents. These include:
- Accidental shootings
- Attacks by dogs or wild animals
- Loading and unloading accidents
- Sudden and accidental fatal collisions
Coverage options can vary based on your specific needs. Some farms will find that their farm policy includes enough coverage for their needs. Other farms will need a more comprehensive policy that includes options for a specialized type of animal. There are three types of coverage that that can help to protect your animals. These are as follows:
- Individual coverage. Insure your animals individually, a strategy most common with higher valued animals.
- Blanket coverage. Insuring your livestock under blanket coverage rolls your animals under your farm property coverage.
- Herd coverage. This is the most common way to insure your herd and is based on herd size.
Your costs for livestock protection will vary base on the options you choose but the best way to get a quote is to call your Agri-Services Agency insurance agent. Remember that some policies may cover more broadly than others and some may have exclusions. Talk with your Agri-Services Agency insurance agent to make sure that you understand the details of your coverage. There are two types of coverage, comprehensive and limited. Comprehensive coverage is broad and covers incidents such as accidents, sickness, disease and injury, as well as theft. Limited coverage covers a more specific list of incidents such as accidents, weather events, natural disasters, crimes and civil unrest, system breakdowns, animal attacks, and collision or other death while transporting.
Livestock insurance doesn’t cover losses caused by disease, old age, or death caused by natural causes. If you would like to look into policies to cover these instances, speak with your Agri-Services Agency insurance agent about what options are available to you. These availabilities can differ based on your herd, state, and other factors.
Livestock protection also typically does not cover newly acquired livestock right away. Most farm insurance policies provide an automatic extension on farm personal property to cover newly acquired livestock. Make sure that you report any new animals within time frames specified in your existing policy. You should also review your policy with your Agri-Services Agency insurance agent to be sure you are aware of coverage limits and reporting requirements for your newly acquired livestock.
Give Agri-Services Agency a call a 1-877-466-9089 today and speak with an agent to discuss your options and get the process started to protecting your most valuable commodity.