At the end of the day, it really doesn’t matter if you are growing marijuana, corn, carrots, or canola, there are going to be a number of risks that your business faces on any given day. When you sit down and think about it, there really are a lot of moving pieces that go into a Canadian farm. Now only do you need the equipment and knowledge to properly sow your seeds, but you need a knowledgeable crew that can handle the harvesting without damaging your end product. And, this is not to even through in the unpredictable nature of Mother Nature. When you clearly look at the risks associated with the seed and produce industry it is almost enough to deter you from going into the farming business in the first place.
That being said, you should not let these risks hinder your progress or turn you in the other direction because we are here to help. At ProfessionalsCoverage, we have made it our goal to provide you with the coverage that you need to not only protect your livelihood but to ensure that you flourish.
Do Farmers Need Specific Coverage Plans
As a farmer, you probably already know that the whole process requires a lot of specialized equipment. Right down from the sowing of the seeds to the reaping of the crops, the whole process will require unique tools. Not only does the process depend on tools and knowledge, but it also depends on quality control. Unfortunately, sometimes in the farming industry, there are just things that are out of your control. And, when these things go array it can cost you dearly. Even we the things that are within your control go out of control, you could still be facing costly consequences.
This is why we want to make sure that you are protected to the fullest for all seen and unseen situations. Below, you will find a list of manufacturing liability insurance coverage plans that can address the common challenges faced in the industry.
- Residential Coverage
- Farm Buildings & Contents Coverage
- Farm Income
- Mobile Agricultural Machinery
- Commercial General Liability Insurance
- Boiler & Machinery
- Livestock Coverage
- Comprehensive Personal Liability
- Umbrella Liability Insurance
When Is Farmer’s Insurance Needed?
Unfortunately, farmers in Canada are faced with a lot of unique risks and dangers. Heck, you are in risk before you even put your seeds in the ground, you just might not know it. If this is the case then it might be months before you even realize that you have a problem, which is only going to make matters worse. You combine this with the potential for inclement weather and it is more than easy to see why all Canadian farmers need to ensure that they are protected to the fullest degree. At ProfessionalsCoverage, we always recommend adding some specialized Farm Choice policy extension to your already established Commercial General Liability Package. Below, you will learn about some of the extension available to Canadian Farmers and exactly how they can provide relief.
Farm Building And Contents Coverage
You probably already gathered from the name of this policy that it covers your farm buildings and the supplies contained within them. Rain, storms, snow, floods, lightning, thunder, and even humidity can all pose risks for your building and its contents. Even if they are designed to withstand such conditions there is always a potential for some kind of risk. When you consider the fact that you are storing your greatest assets in these building it only makes sense to ensure that you are covered.
Comprehensive Commercial Property insurance policies can protect you and your property in the event that you lose a building or piece of equipment stored in that building to fire or hailstorms, but if you couple this with Farm Building and Contents Coverage it will ensure that everything from your barn to your silo as well as their contents are covered from all potential risks.
Errors and Omissions Coverage
When a farmers reputation rests on his end product there is a lot that can go wrong. And, some of these things that can potentially go wrong could even be out of your control. Just imagine if you already have a whole field of crop sold, but your seeds don’t germinate. Is this your fault? Is this something that you could have prevented? The answers are no, but do you think the buyer is just going to write this off because you are a good person? No! More than likely the buyer will come looking for you seeking compensation. They might have had customers and other wholesalers depending on this crop.
This is exactly where Errors And Omission Coverage can come in handy. This specific type of extension that we offer will protect you in the event that there is a financial loss to one of your customers. For instance, if your product fails to deliver as expected, you’ll be covered for those financial losses. Whether the problem is on your end or not, this is a situation that could end up in court. Just imagine the money that you would spend defending yourself. This is another area where our Errors & Omissions Coverage can help out. It will not only cover the cost of a lawyer, but it will cover court fees, depositions charges, and the settlement.
There is simply no denying that running a farm can be expensive. There is also no denying that it can be extremely lucrative with the right outcome. However, that outcome might be harder to come by than you thing. And, it is the minor incidents that really derail things. Even though minor incidents might seem minor on the surface they usually end up costing more than you would ever imagine. Once again, this is why we are here to offer our Top-Up Coverage extension.
This is a type of extension that adds more coverage onto you current coverage. For instance, if your policy only protects you for damages of $15,000, but you are facing $40,000 in damages our Top-Up Coverage can give you another $25,000 of relief to help cover the rest of the claim.
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Other manufacturing businesses that we provide liability insurance for:
- Auto parts manufacturer insurance
- Clothing manufacturers
- Food & beverage manufacturing insurance
- Food canning
- Computer manufacturing
- Candy makers
- Cabinet makers
- Concrete manufacturers insurance
- Electronic manufacturers
- Frozen food manufacturers
- Furniture manufacturers
- Livestock farmers insurance
- Machinery equipment manufacturers insurance
- Meat packing facilities
- Metal manufacturers insurance
- Mobile home manufacturers
- Newspaper printers
- Plastic manufacturing
- Tobacco manufacturers