If you’ve got a farm, it may be very well true that your livestock represents a large portion of you and your family’s livelihood. Here at Security Insurance Group, we can help you insure your very important and often unpredictable part of your farm or ranch. All of your livestock, whether it be cattle, sheep, bison, hogs, or more, can be covered under our Fort Collins farm insurance policies in different ways.
UNDERSTANDING FARM & LIVESTOCK INSURANCE
How? One way to insure your herd is to cover each animal individually. If you’ve got some higher-valued livestock, it may be in your best interest to list them individually. Identify them in whatever way you identify them on your farm – names, ear tag number, or RFID number.
You can also cover your livestock with blanket coverage. With a blanket policy, you can cover all of your farm property (structures, equipment, livestock) in one lump sum amount. You must remember that it’s important to insure to adequate values if you use blanket insurance.
Herd coverage is another common way to cover your livestock. For example, covering 100 head of Holstein cattle is an example of herd coverage.
The important thing that you need to do is to make sure that you know your options. The maximum amount payable per head is determined by how you choose to insure – whether individual, by herd, or with blanket coverage. To understand the differences, we urge you to call us and speak to one of our agents so that you know exactly what your best option is for your operation.