It is commonplace to purchase homeowner's insurance when you purchase a house. However, when your home consists of several barns, maybe a shed for a tractor and farm equipment, and a riding ring--you need farm insurance. Separate from any other liability insurance you might hold on your property, farm insurance covers the physical attributes of the farm—buildings and vehicles, etc.—while liability insurance protects you against any lawsuits or claims made arising from whatever equine activities take place on the property. Farm insurance also helps protect you from financial loss in the event of a fire, windstorm, etc.
As with an ordinary homeowner's policy you may choose to insure your farm at the level you believe will give you the best protection within your budget. Also note that as with a regular homeowner's policy, your farm insurance policy does not protect againts flooding. You would need to purchase a separate flood policy.
With more than 300 years of farm experience, Suydam Insurance Agency is uniquely qualified help you protect your farm.