Running a poultry farm comes with its own set of challenges. From managing the health of your birds to ensuring the efficient operation of your farm, you’ve got a lot on your plate. One of the most important steps you can take to protect your farm, assets, and investment, is securing the proper insurance coverage for your poultry farm.

Farmers whose business is raising chickens, turkeys, ducks, or other types of poultry require a specialized insurance plan to adequately protect them. A complete insurance plan should extend beyond just general liability and building damage, and should protect your farm against unexpected events which can lead to financial losses.

Property

When thinking of insurance, most people immediately think of fire, wind, storm, or other damage to their home, outbuildings, and equipment from natural disasters. Adequate property coverage ensures that you can rebuild or replace these items with minimal financial outlay. Remember, though, the cost to replace buildings is not directly correlated to the amount you initially purchased them for.

Liability

Legal costs and damages have gotten increasingly steep over the years. Imagine a visitor to your farm gets injured while on your property. Being properly prepared means having adequate liability insurance to help cover any medical expenses and legal fees you may incur as a result.

Business Interruption

If an unfortunate event causes your poultry farm to suspend operations temporarily, business interruption insurance can help cover your loss of income due to instances like fire, flood, or equipment breakdown. You may also find that while your farm is ramping back up to its original production levels, business interruption will cover the difference.

Livestock

Are you raising your own birds, or are you a contract grower for another farm? You should be positive that your coverage has provisions to protect the value of your birds. When under contract with another entity, realize that you are still responsible for the total value of the poultry per the contract, thus your insurance policy should recognize and respond accordingly.

Equipment Breakdown

Like most farms, poultry operations are heavily reliant on equipment such as incubators, feed systems, ventilation units, among others. Equipment breakdown coverage can help you cover the cost of repair or replacement, thus preventing disruptions to your farming operations if your machinery breaks down. It is important to note that this breakdown must be sudden and accidental, therefore it will not respond in the event of normal wear and tear.

Disease

Bird Flu has found its way onto many farms across America. What happens if your poultry farm has an outbreak and you have to cull most of your flock? That would be a devastating loss to you and your farm, right? If you are concerned, you should have a conversation with your insurance advisor about how you can protect your operation.

Like all agricultural endeavors, poultry farming is risky, and unexpected events like disease outbreaks, weather conditions, or accidents can cause you serious financial hardship if you’re not properly prepared. Poultry farm insurance can help give you peace of mind by providing a financial safety net when times get difficult.

To ensure adequate protection, you should consider several aspects of your operation to help you choose the right insurance plan for your needs.

Size

Are you running a small farm in your backyard, or do you operate a large commercial agribusiness? The type and amount of coverage necessary for you will be influenced by the size of your farm.

The Risks You Face

Every farm is different and risk levels change depending on location, type of poultry, and your infrastructure. Work with your insurance advisor to ensure your farm insurance policy covers your farm’s specific risks.

Cost vs. Coverage

No one likes spending more than they should on insurance. It’s important though that your policy has enough protective value for your operation, while still fitting within your budget. Your insurance advisor will help you navigate this fine line so you have enough coverage for your needs at a price you can afford.

Poultry farming is not without its risks. It’s crucial to get your safety net in place for if and when things go wrong. Richey-Barrett Insurance can help you compose a policy that fits the specific needs of you and your poultry farm.