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What is Agribusiness Insurance?


As the person in charge of an agribusiness, knowing your stable, ranch, farm, or vineyard isn’t always enough to ensure your company is futureproofed. You need to be aware of and protected against the risks that you face and understand what the best type of agribusiness insurance is. From Ag-tech to extreme weather conditions, the risks you face in your sector are unique, and you need to buy specialist agribusiness coverage to protect you financially.

What types of insurance should an agribusiness buy?

Every agribusiness is unique in its own right. Here are the most common types of insurance that you can buy.

  • Auto / Fleet Insurance

Any licensed vehicle will need to be insured, along with the individuals that are going to be driving them. Because each state has different laws about who can drive a commercial vehicle, you do need to check your in-state laws or speak with a local commercial insurance agent who understands the agribusiness sector. Most farm fleet insurance policies will also cover the employees who drive the vehicles, and you can usually add extra protection for the goods you will be carrying. There are many other extras you can buy, such as automatic out-of-state coverage, fleet insurance for any no-hauling vehicles, and more.

  • Employee Insurance

Buying workers' compensation coverage for your farm or agribusiness workers is a state requirement. Most employers are already aware of this, but it gives you financial protection by paying for the cost of any medical treatment and expenses for staff that sustain a workplace injury or who develop a work-related illness.

  • General, Personal, and Professional Liability Insurance

Buying liability for your agribusiness is one of the most important types of coverage you need to consider. Depending on your type of business, the risks you face will be unique to your operations, and whether it is general liability insurance for third-party claims of property and personal injury or professional indemnity insurance to cover you for any errors and omissions, you need to make sure that your business, your staff, and yourself have financial protection in case of a lawsuit.

  • Umbrella / Excess Insurance

For some businesses in this sector, you might need to top-up your levels of coverage. An umbrella insurance policy will simply increase your maximum levels of coverage. This means that should a claim amount exceed the limits set-out on your standard policy; then your umbrella insurance can help you cover these costs.

  • Property Insurance

If you live on the farm or property that you do business from, then buying property insurance can give you coverage for your household items and personal property. You can also buy farm insurance for the farm’s personal property, such as grain, livestock, tools, and machinery. When you get a quote for agribusiness insurance, it can also be tailored to cover any other structures or farm buildings, as well.

  • Crop Insurance

Buying a multi-peril crop insurance policy is an essential tool for risk management in the agribusiness sector. It can provide coverage for extreme weather conditions, unavoidable problems with diseases, and pets, along with price fluctuations in the market. You can also tailor most crop insurance policies for different levels and crops, and the pricing structure will usually be based on a fixed amount of insurance premium per acre of land.

Who needs to buy agribusiness insurance?

If you are looking for quotes for commercial insurance, then you might be left wondering whether or not you need to buy agribusiness coverage or if you need a different type of commercial policy. Here are the most common types of businesses that could be classified as part of the agribusiness sector.

  • Wholesale Nurseries
  • Estate Farms
  • Cotton Growers
  • Dairy farms
  • Family Farms and Ranches
  • Commercial Growers
  • Agriculture Product Packers
  • Field Crop and Grain Growers
  • Wineries and/or Vineyards
  • Tasting Rooms
  • Livestock – Including Sheep and Cattle
  • Horse Farms

Where to Buy Agribusiness Insurance?

Talking with an expert commercial insurance agent for farming or the agribusiness sector, in general, can give you that extra piece of reassurance you need when you look to compare quotes. They can offer support and assistance with knowing the best type of liability coverage for your specific niche, and give you practical information about the right levels of insurance you need to buy.


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