There are more than 1.3 million head of cattle, 6 million turkeys, 2.5 million pigs, and 120 thousand sheep in the state of Ohio, according to the US Department of Agriculture. Livestock and poultry are part of a tradition of family farming dating back generations. And for generations, our neighboring farmers, ranchers, and dairymen have trusted Hitchings Insurance Agency to protect their valuable animals with a broad array of Livestock Insurance policies and coverages. We work with an extensive network of top-quality insurance companies to find you the best coverage for your livestock and poultry, whether you are a producer on a large ranch, a grower, or you raise animals on a family farm for personal consumption.
Types of Livestock Insurance
Animal husbandry is a risky business. Every day brings new challenges. Accidents, illnesses, theft, and natural disasters all threaten your livelihood. Having a solid insurance plan in place will mitigate your risk and reduce your worries. Hitchings Insurance Agency is proud to offer the coverage that best suits your needs. The most common forms of Livestock Insurance include:
- Individual coverage: this is the best choice to insure high-value individual animals. Each animal is listed in the policy by tag, marker, or identifying characteristics. Each animal is covered for a specific dollar amount.
- Blanket coverage: this type of coverage insures all farm property for a predetermined value. Usually a part of a comprehensive Farm Insurance policy, blanket coverage extends to structures, equipment, tools, and livestock.
- Herd coverage: the simplest and most popular type of livestock insurance, herd coverage insures a specific number of animals for a set amount.
Each of these types of Livestock Insurance policies varies in detail and design. Our independent insurance professionals will explain the details and ask the questions to determine what policy suits your unique situation. You may select a comprehensive policy that covers a broad array of hazards including accidents, sickness, disease, injury, and theft. Or you may opt for limited coverage that covers only specific situations like drowning, shooting, fire, smoke, electrocution, weather events and natural disasters, and animal attacks. We know your circumstances are unique, so we’ll work hard to find you the best policy at the right price to suit your needs.
The Features & Benefits of Livestock Insurance
Livestock insurance protects your farm’s most important investments from unpredictable events, such as crime, weather catastrophes, and accidents. Livestock insurance can be added as a component of a farm insurance policy that helps farmers secure their biggest assets.
The following list is just a few samplings of the benefits of livestock insurance:
- Protects all sorts of livestock – from swine to llamas and horses
- Protects against a variety of losses, including accidents, natural disasters, and weather events
- Protects livestock during transport as well as unloading/loading
- May offer livestock liability for injuries or property damage caused by your animals
Livestock insurance features two types of coverage, which you can choose between. The first option is scheduled livestock coverage and the second is unscheduled or blanket livestock coverage.
Scheduled Livestock Coverage
Scheduled livestock coverage allows the farmer more variability with how much to insure individual animals. You may also customize coverage. This option allows the farmer to select adequate limits for the different values of their animals.
Unscheduled/Blanket Livestock Coverage
Unscheduled or blanket livestock coverage is meant to insure all farm property, including your livestock, under a single limit. This comes with an advantage: if the value of the property changes (such as if more property is added, like the purchase of new livestock) or if market conditions fluctuate, then the blanket value increases.
One of the key benefits of livestock insurance is the wide range of animals and perils it can insure. Your livestock insurance may protect the following animals:
Depending on the coverage you choose, your livestock insurance may cover your livestock against the following losses:
- Crime activity
- Accidents, such as incidents during transit, explosions, fire, etc.
- Weather events
- Transport collisions or crashes
- Natural disasters (typically not including earthquake, although this may be available as an endorsement)
Coverage may vary from policy to policy, so you may want to refer to your agent if you are unsure as to what your livestock has coverage for.
Customized for your needs
Because there are so many hazards in the business of raising animals, there are many specialized insurance packages available to address those needs. Your insurance needs as a poultry farmer are very different from those of a cattle rancher, which in turn are distinct from those raising sheep for wool or food fish in ponds.
Navigating the intricacies of coverage options is tricky. That’s why we’re here to help. It’s what we do. We’ll inform you of available coverage options for your livestock business and help you avoid common pitfalls. Do you need a care, custody, and control endorsement on your policy? Is an animal mortality plan covering accidental poisoning by water or feed right for you? Are your animals covered in the event of an accident occurring while they’re being transported? Do you want coverage that includes the cost of removing and disposing of dead animals? There are as many details as chickens have feathers!
Let the independent insurance professionals at Hitchings Insurance Agency work with you to design a farm and livestock coverage plan that fills in the gaps, accounts for your specific situation, and brings you the financial security and peace of mind you deserve.
For more information, check out our blog post on livestock mortality insurance.
You talk, we listen!
Talk to us – our experienced team would love to help you assess the best protection for your unique livestock needs. Learn why so many farmers in Ohio and Michigan trust us to protect their animals. We invite you to learn about the Hitchings Insurance Agency difference yourself – fill out a free quote form or call us at 419-423-9145.
ANSWERS TO FREQUENTLY ASKED QUESTIONS
How much does livestock insurance cost?
Assuming we are discussing an animal mortality policy- rates can be as low as 0.15 per $100 of coverage on a basic plan, or as much as $5.50 per $100 for an “all-risk” plan. Check out this blog for more information.
Can farmers insure livestock?
Absolutely. A standard farm insurance policy will cover livestock for the perils of the policy that are already included. These would include things like fire, wind, and lightening strike. A secondary livestock mortality insurance can be purchased to cover exposures like grazing poisoning, accidental drowning, contaminated feed and water, hypothermia, electrocution, accidental shooting, among others.
What types of claims are covered with livestock insurance?
Fire, wind, hail, and lightning strike are coverages on a standard farm insurance plan. Just be aware the insurance providers will not pay prices for show animals and will likely only pay for the market value of animals. An animal mortality plan would cover things like grazing poisoning, accidental drowning, contaminated feed and water, hypothermia, electrocution, accidental shooting, explosion, leakage of gas/suffocation, leakage of anhydrous ammonia, collapse of bridges, culverts, roadways or piers, sinkhole collapse, earthquake, floods, and riots-civil commotion.
Is theft covered by livestock insurance?
Yes, typically it is. Make sure the policy you purchase has coverage in place for this exposure, because not all farm policies or livestock policies are created equal.
Is hauling/transportation covered by livestock insurance?
This is an exposure that can be endorsed on a farm insurance policy. If you are transporting animals to shows, butchering shops, or from farm to farm, make sure you have an endorsement on your policy to cover the total limit you transport at one time.