![]() Why? Standard homeowner policies often have a “business pursuit” exclusion or “professionals services” exclusion that does not cover business activities at home. In that case, you will need to upgrade from your standard homeowner’s insurance policy for coverage and add a hobby farm policy. Suppose you decide to expand your hobby farm and start selling crops at the local farmers market. ![]() Hobby Farming for Profit Requires Separate Farm Insurance If you’re relying on homeowners insurance to cover your entire hobby farming activities, talk to your insurance broker, so you know exactly what is covered and what is not. However, most policies typically exclude farm equipment or farm outbuildings. If you’re not looking to make money from your farm but consider it a hobby, your standard homeowner’s insurance policy may cover some farming activities. ![]() Standard Homeowners Insurance Covers Some Hobby Farming Activities That’s why farm owners must work closely with their insurance broker to customize a policy that adequately protects their land, farm equipment, farm buildings, livestock, feed, and crops. Every farm is unique, so the policy is tailored to the unique needs of the farming operation. Unlike homeowners insurance, farm insurance doesn’t have a standard policy that includes the same set of predetermined coverages. Here are four interesting facts you may not know about farm insurance policies. Whether you have a little hobby farm that produces small crops for the local farmer’s market or a large operation that requires full-time attention, you know all too well the risks and frustrations that come with crop production.įarm insurance helps mitigate the financial loss that accompanies the risks and challenges of running a farm, but not all farmers understand the ins and outs of farm insurance. 4 Keys Facts You Should Know About Farm Insurance
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