Why Should You Get A Farm Insurance In Stratford?

Insurance aims to reinstate your previous financial situation before the occurrence of an insured risk. Taking out insurance coverage is something always advised for homes, cars, health, and other avenues. Did you know that farm insurance exists too? 

Farm insurance is ideal for the population that relies on their farms for income. The farms can be of crops, animals, or both. Quite intriguing, right? As a farm owner in Stratford Canada, are you in a dilemma on whether to take out farm insurance coverage? This post gives enough reasons as to why you need the cover. Read on to learn more. 

However, before delving into the discussion, here’s a little more on farm insurance.

What Does Farm Insurance Cover

Like any other insurance, the extent of coverage depends on the Canadian farm insurance provider. Yet most will cover damage to the farm property, animal illnesses, lawsuits levied against the farm, and loss of income, among others. 

Some insurance providers offer customized farm insurance in Stratford where they’ll visit your farm and assess your risks. They’ll then give you a quote on what they can offer you. 

What Are The Different Types Of Farm Insurance

Farm insurance come in various forms. They include: 

  • Farmworkers compensation insurance caters to the medical bills of farm workers that get injured as they execute their roles on the farm.
  • Farm liability and personal injury covers lawsuits arising from damage to another property or a third party due to your farm’s operations.  
  • Farm property insurance covers damage to any building, equipment, or animals on your farm.
  • Crop insurance covers crop loss and damage due to natural calamities like hail, storms, and others.
  • Loss of income comes in handy suppose an event occurs that destroys your crops, your main source of income. The insurance provider will pay you the income you’d have earned if the crops were in good condition. 
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Why Get A Farm Insurance In Stratford 

Farm insurance offer a lot of advantages. That said, here’s why to get farm insurance in Stratford:

  • To Reduce Financial Liability

As you run your farm, a lot could happen. Your cows could trespass on the nearby property and destroy all the crops there. You could have a visitor on your farm, only for your goat to injure them with their horns, and they end up in a hospital. In such situations, there’s a likelihood the aggrieved parties will file lawsuits against you.

Some of the damage could be quite extensive, attracting hefty fines. Paying these fines can render your farm bankrupt. But a farm insurance in Stratford, will compensate on your behalf, lifting off the financial liability of the lawsuits.

  • For Growth

In life, most of the population aims to grow in whatever they’re doing. Growth brings with it prosperity and a sense of fulfillment. Getting farm insurance coverage will help you grow your farming business.

Without insurance, you might get skeptical about buying more land to farm or increasing the crop coverage on your farm. The same goes for rearing more animals and investing in more smart farming equipment to increase production. In most cases, the restriction arises from the fear of catastrophes happening and taking away your investments. With this mindset, you won’t grow your farming business and test the possibilities.

Farm insurance changes the narrative. You won’t worry about losses since you’re covered. Your mind will focus on other aspects of your farm like money flow and the like. You’ll realize your farm’s full potential.

  • To Reduce Unplanned Expenditure
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Relying on your farm for income means you have financially invested in it. You could have acres of crops and many animals that bring you income, maybe through selling eggs, hay, or meat. All these will cost you a substantial amount of money.

Imagine a situation where there’s a flood that kills all your poultry and destroys your crops. Without insurance coverage, where will you start? Such situations might make you go into your savings, take a loan, or even give up on the farm due to a lack of finances. Nonetheless, with farm insurance coverage, you won’t have unplanned expenditure that makes you offset your budget, use your savings, or give up on your farming dream.


Covering your life and your activities is commendable. Besides having insurance covers that touch on your life, like health, you can also cover your activities, like farming. Such covers ensure overall financial well-being. 

The discussion above has shed more light on farm insurance in Startford, mainly touching on its benefits. Therefore, if you own a farm or know of a friend or family member with a farm, be sure to adopt it and advise them to consider farm insurance. This post gives you adequate information to pitch the idea to them.

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