If you are making your dream of owning a ranch or farm in Texas a reality, you may have questions about how ranch and farm insurance works.

Both ranching and farming can be great business ventures, they can also be costly and dangerous.

With these tips from farm insurance services, learn more about insurance requirements when you purchase rural land in Texas and the types of coverage you will need under most common circumstances.

Purchasing Rural Texas Land - Do You Need Insurance?

Unless you are buying property with improvements already made, your first step in this new agricultural adventure is to buy some land!.

You are not required in Texas to purchase farm or ranch insurance or coverage for raw land that has not been improved or contains any structures.

Insurance is only required when there are buildings on the property.

Of course, many farm insurance services do recommend purchasing a basic liability policy to protect yourself in case someone were to get hurt on the land before you start using it.

What Usage Requires Ranch and Farm Insurance Coverage?

There are two different ranch and farm insurance policies that apply to land that you personally own and use for a farm or ranch business:

  • Homeowners - You both own the farm or ranch and live on it. This policy protects your home, personal belongings, agricultural buildings, structures, and property or equipment plus provides liability insurance, medical payouts, and certain other benefits.

  • Non-Resident - You own the farm or ranch but do not live on it. This policy covers your agricultural buildings, structures, and property or equipment but does not include coverage for your personal property.

If you own a farm or ranch and lease it to someone, you as the owner must take out a policy on your buildings and structures as the renter’s policy only protects the tenant for their personal property, business property, liability, etc.

What Types of Coverage Do Farms And Ranches Need?

Apart from the main property policy that would purchase from farm insurance services, you may also need certain specialized policies based on your type of ranch or farm:

  • Farm and Ranch Liability - This is a tailored liability policy that protects you from the many types of liability that agricultural business owners face by having employees, opening the farm to the public, producing a product on the farm, and more.

  • Tractor and Farm Equipment - This provides coverage for your costly tractors and other high-dollar farm equipment that you need to run your farm or ranch.

  • Livestock - This offers various types of coverage for your livestock and could be life policies to breeding policies and more.

  • Crops - This policy covers the risk of crop failure or destruction and compensates you when your crops are destroyed.

You Need Comprehensive Ranch and Farm Insurance

Buying a piece of land in Texas is just the beginning of your farm or ranch ownership adventure!

While you probably won’t need any farm or ranch insurance when purchasing your land, that all changes when you set up your operation by adding a home, barns, and other buildings.

Purchase a ranch or farm insurance policy that’s tailored to your exact needs by working with a farm insurance agency that understands your goals and the types of coverage you need to safely achieve them!

Need Farm Insurance In College Station Texas?

Jones & Associates Knows Farm Insurance Coverage!

Call (979) 599-7532 Now!