Apart from protecting your investment in crops, many farmers have also made a significant investment in livestock. Not only do these animals provide eggs, milk and meat, but they also haul equipment and help with other duties around the property. It’s easy to take pigs and chickens for granted when they are part of your daily life. But what would happen if you lost a portion of your livestock?
Just like humans, animals are also susceptible to illness, accidents and inclement weather. In fact, about 30 percent of cattle die from diseases, while about 10 percent die from weather events like flooding or freezing. However, animals aren’t always lost due to natural causes. You may wake up to find that your prize-winning heifers have been stolen.
Once you consider the value of your livestock, it becomes easy to see that protecting these animals should be a key element of your farm insurance policy. Though your policy can be customized to the needs of your business, there are three main livestock coverage options for your consideration.
- Individual: This is a good option if you own animals of value, like a stud horse. You can set your coverage limits based on each animal.
- Herd: This offers more generalized coverage for herds of animals. For instance, you can specify 100 pigs or 300 goats. This is a common form of livestock insurance for farmers who own many animals.
- Blanket: Blanket coverage can extend beyond the protection of your livestock. Many policies provide coverage for buildings, equipment, hay, livestock and more—all for one lump premium.
Caring for livestock can be a fickle job that depends on many factors outside of your control. However, the loss of your animals does not have to be a crippling blow to your business. Talk to an independent insurance agent to find out how farm insurance can help protect your livelihood in the face of disaster.
We’ve got you covered. Call General Insurance Services at (219) 879-4581 for more information on Michigan City farm insurance.