Your livestock—cattle, goats, chickens, pigs etc.—provide value to your farming business. Their labor, milk, eggs and meat all directly correlate to your profits. If you were to lose your livestock, would your farm be able to survive in this tough market?
Approximately 30 percent of cattle die from respiratory or digestive issues, while over 10 percent die from severe weather. Tack on the risk of accident and disease and you can see why owning livestock can be a risky investment. Even more so because in addition to the risk of losing your investment in your livestock, you also take on extra liability exposures by owning livestock. This includes animals injuring passersby or guests, animals causing accidents, animals damaging the property of others and legal concerns associated with reports of animal abuse.
Insuring your livestock with customized farm insurance is an effective method of protecting you against the risk of loss. In fact, this coverage may be the difference between going out of business and surviving troubling times following a great loss, such as losing a herd of cattle during a deep freeze.
When choosing your coverage, you have three main options for protecting your livestock.
• Individual coverage: Customized coverage per animal, which is the preferred option for owners of high-value livestock.
• Herd coverage: Coverage for an entire herd, such as a single policy to cover 500 sheep.
• Blanket coverage: Coverage for all farm property—livestock, equipment, hay etc.—lumped into one policy.
Call your independent insurance agent to ask about limited and comprehensive coverage options. Your agent is there to evaluate your needs and help you select the best policy options to provide optimal protection for your farm and everything that helps you stay profitable.
We’ve got you covered. Call Loftis & Wetzel Corporation at (580) 363-3434 for more information on Oklahoma City farm insurance.