Should you have a Homeowners Insurance Policy or a Country Estate?
Many of our clients are homeowners, and it has come to our attention that many homeowners actually have a residence that better qualifies as a Country Estate. You might have inaccurate coverage for your home depending on the coverage you currently carry. Below is some information on understanding the difference between the two types of policies.
What exactly does Homeowners Insurance Cover?
Homeowners insurance typically covers your dwelling, its surrounding property, and the property inside the home. The policy also protects you from liability for accidents that take place on your property.
What About Farming Risks?
Farming property and activities require their own coverages for structures like barns, silos, and fencing and equipment property such as tack, tractors, supplies and tools, hay or livestock. You may need additional liability coverage if you own or board horses or participate in horse related activities, or if you sell products such as vegetables, fruit, or cheeses.
Home Vs Farm
What you really need to find out is if you are protected for the farm-related business activities on your property. It is important to understand that the typical homeowners insurance is not adequate to protect you for these activities. Even if your current agent modifies your homeowners policy with a special endorsement, you may still have gaps in your coverage. In addition, there are special considerations if you own animals such as horses, cattle, or goats.
Our Country Estate insurance is designed for someone like many of you – a small scale farmer who owns acreage for pleasure or possibly profit, but whose primary income is from another occupation. We offer built-in, prepackaged property and liability coverages for both farm and residence. If you own horses, Country Estate Equine offers additional coverage for certain horse-related activities.
To give you a better idea, here are a few coverages that typically are not covered under a Homeowners policy, but are (or can be included) in a Country Estate coverage.
- products liability
- farmers markets and roadside stands
- other machinery
- care, custody and control of livestock
These are only a few of the items that can be included in a Country Estate policy. There are many more and we would be happy to go over them with you.
Please let us know if you are interested in learning more about Country Estate coverage. We are more than happy to discuss insurance options with you!
Did you Know?
We offer a wide variety of insurance products to include Home, Auto, Life, Annuities, Motorcycle, RV, ATV, Boat, Small Business, Rental, Umbrella, and Equine Mortality/Major Medical coverage.
Galvin Agency is here to help you with insurance questions, needs, and claims. We are here to assist you and our job is to make sure you feel protected and knowledgeable. Thank you for your business and we look forward to talking with you soon!