Home vs. Farm Insruance - Which One Would Be Best For Your Eastern Pennsylvania Property?

You finally bought your dream farmette in Eastern Pennsylvania and can finally have your horses on your property.  Before you do, you need to insure it.  But wait!  Which one would be best?

Many times owners of residential backyard properties believe that home owners insurance will cover everything.  After all, it is not a business.  Farm insurance covers businesses and active agricultural farms with large acreage.

Not necessarily. Did you know that if you own more than 3 of your own personal horses on the property that you need farm insurance?

The definition of a farm is any type of facility that has equine boarding, paid training, livestock, animal or crop sales.  Owning more than 3 personal horses on the property also fit into this category.  Over 3 horses are no longer considered as pets.

So what does a farm insurance policy cover?

- It provides special coverage for all farm buildings on the property.  Some examples are stables, barns, indoor/outdoor riding arenas, silos, run-in sheds, and more.

- It has more options for more significant liability amounts as well as what the liability will cover and why.

- It is a combination of personal home owner insurance and business insurance.  This allows the owner to have much more flexibility with what they can do with their property and still be properly covered.

So, who needs farm insurance?

- Any equine facility with boarding, breeding, lessons, and training of any sort.

- Owners with more than 3 horses on the property

- Anyone with any sort of farm income

- Owners of more than 5 goats and/or sheep

- Anyone selling excess produce or goods produced on the property

- Owners of cattle, llamas or alpacas

If you fit into any one of these categories, it is time to look over your current property insurance to see if you are covered.  Don't wait until disaster hits to find out you are not covered.