What is the difference between a homeowner's policy and a farm and ranch policy?

Is there a big difference between a farm policy and a homeowner's policy? I live out in the country and have a little farm that my wife, kids, and I run together. We don't have any livestock or employees; we just have about half an acre farmed out for ourselves and the rest is donated. Should we have a different type of insurance?

Answer
“Donating fresh and healthy food is such an amazing way to give back to your community, thank you! Whether you need a farm and ranch policy will depend on the type of farm equipment you need to insure.
A standard homeowners policy will provide coverage for personal property. This includes outdoor equipment like riding lawn mowers and gardening tools. However, it excludes coverage for things like tractors and farm outbuilding.
A farm and ranch policy will provide additional coverage for the following:
  • Farm machinery
  • Grain
  • Livestock
  • Farm tools
  • Farm buildings or structures (barns)
  • Additional liability protection
Your farm may fall into the category of a hobby farm. A hobby farm is just what it sounds like: a small-scale farm that is not the primary source of income for the owner.
If you have visitors to your farm or equipment that is excluded from your homeowner’s policy, talk to your agent about farm and ranch insurance. If your current agent doesn’t provide farm insurance, companies like Nationwide and State Farm do.
If you want more freedom in shopping around, try using the Jerry app. Jerry compares rates and delivers the best deals to your phone in minutes. And best of all–it’s free.”
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Shannon Martin
Answered on Aug 27, 2021
Shannon is an expert in personal lines liability insurance with 13 + years of insurance industry experience. She also served as a special insurance liaison to AARP members for 6 of those years. She is a graduate of UL Lafayette and currently resides in NY with her family. Shannon is also an amateur juggler, ukulele player, and is a time travel paradox theory enthusiast.
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