Farming, ranching, and/or running an agribusiness can be a very rewarding venture. Even so, there are many perils that aren’t covered by regular insurance policies. Umbrella insurance for farmers offers an additional layer of protection that can be a lifesaver in the event of a natural disaster, accident, or unforeseen mishap.
What Is Umbrella Insurance?
Umbrella insurance is an insurance policy that raises the liability limit of a regular liability insurance policy. If you need to pay damages higher than what’s covered by your liability coverage, umbrella insurance will make up the difference.
Umbrella insurance coverage will depend on the policy you pick, but common forms of coverage include:
- Personal injury to third parties
- Bodily injury to third parties
- Property damage
- Medical bills
- Legal representation
- The cost of paying a settlement or judgment
How to Choose the Right Policy
Bellevue, WA farmers and ranchers who are interested in umbrella insurance coverage should shop around to see which form of coverage best meets their needs. Independent insurance agencies can be the best bet as they offer policies from multiple providers and can help clients understand the pros and cons of each policy. You can also talk with your insurance agency about adding policy riders or removing perils that don’t apply to your agribusiness (for instance, you don’t need coverage for damage caused by livestock if you don’t own any).
Call Securum LLC for More Information
Securum LLC, serving Bellevue, WA offers top-tier customer service as well as multiple policy options from leading insurance agencies. Call us today, and we’ll help you review your umbrella insurance policy options and pick (or customize) the policy that’s the best fit for your situation.
