Your farm is more than your home, it’s your business. As with all businesses, the owners must make decisions for continuity’s sake in the event of a catastrophic loss. How are you supposed to support yourself and family while rebuilding after that tornado, fire, or other disaster you may face?

Farmers can rest easy knowing that they can rely on their insurance policies to help keep them afloat after a loss. Farm Earnings and Extra Expense coverage provides just the solution.

Take a quick second and think about the most devastating loss you could endure on your farm. How long will it take you to recuperate and return to normal operations? How long can you sustain without any income protection? Let’s look at how Farm Earnings and Extra Expense coverage can help.

What does Farm Earnings and Extra Expense cover?

Farm Earnings and Extra Expense covers the following four items when a covered cause of loss results in direct physical loss to your farm’s buildings, equipment, machinery, supplies, livestock, or poultry:

1. Reduction in net profit or increase in net loss (before income taxes)
2. Continuing normal operating expenses incurred, including payroll
3. Actual and necessary expenses you incur to resume normal farming operations
4. Actual and necessary expenses you incur to repair or replace damaged property, but only to the extent that such expenses reduce the amount payable under this endorsement

The loss must occur at an insured location and result in the disruption of your farming operations at that location.

In addition to the timeframe allowed to rebuild from the incident, you also can receive extended income protection for up to 30 days after rebuilding for any difference in income had you not experienced the occurrence, providing further assistance in getting back on your feet.

Do you need Farm Earnings and Extra Expense coverage?

At the end of the day, only you can make that decision. Let me turn the question around on you, do you want the cheapest insurance policy you can get, or do you aim to work with an advisor to help you protect yourself and your operation? If you’re unsure if this coverage is right for you, reach out to your Trusted Choice insurance advisors at Richey-Barrett Insurance and we’d be happy to learn more about your situation and make any necessary recommendations.