It’s important to make sure a policy provides the right amount of coverage for each component.
Hobby farm insurance is a unique type of coverage because many types of growers policy are designed for much larger operations. That said, the right coverage does exist, and it’s important to make sure your policy is a solid fit.
Hobby farming is far from the large industrial operation that are commonplace across the country.
The type of hobby farm insurance you require depends on what you’re doing, how you’re doing it and where you are. The coverage you will purchase will differ if you are in a town when compared to what you would need in the countryside.
General farm insurance does exist. If you were to purchase that type of policy, it would offer much of the types of coverage you require for hobby farming. However, there are some notable differences with a niche policy that will allow you to better customize based on your needs. On the whole, coverage is the same, with certain exceptions.
That said, your homeowners insurance will not be enough to cover your hobby farm insurance.
For instance, standard homeowners insurance will cover detached private structures including a detached garage for use in parking a car or truck, a small garden shed, a gazebo, or a small garden shed. However, a standard home policy won’t cover a detached garage used for parking a farm tractor (or other farm vehicles), any building meant to be used for farming, or a barn that isn’t used only for personal storage.
Therefore, while general farm insurance is often too broad for a hobby operation, homeowners policies don’t offer coverage for anything that can be deemed commercial.
Hobby farm insurance will provide coverage for additional building, equipment, plants or even livestock that wouldn’t be covered by a homeowners policy. Typically, this will involve coverage for perils such as wind, fire and lightning, as well as broad form coverage aside from specific exclusions. It may also include coverage for explosion, accidental shooting of livestock, attacks by wild animals or losses that could occur during transportation.