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Insurance???

Posted by canuckistani 5b (My Page) on
Wed, Mar 4, 09 at 22:39

Hey Everybody,

I saw someone mention something I never considered...insurance. Are most market growers responsible for having insurance for their produce? How does the food safety work at most farmer's markets?


Follow-Up Postings:

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RE: Insurance???

You are responsible for your own insurance at the vast majority of markets. Through your farm owners insurance you should be able to get a liability rider that will cover you for not more than a couple of hundred dollars a year. If you have home owners insurance it will cost more, if you can get it. A lot of of home owner policies will not touch food/farm liability.

You need at least $2 million in coverage.


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RE: Insurance???

2 million in insurance? Is this for selling at a farmer's market or at your own farm? I don't have farm insurance, just reg. homeowners insurance. Why so much insurance coverage?


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RE: Insurance???

In NY State, the most reasonable AND the most complete coverage is through the NYS Farm Bureau.
Doesn't just cover markets, but ANYwhere you happen to be.

It costs about $450.00 per year and I could not find anything any cheaper. (Nor could my insurance agent.)
No one around here will do the rider on your homeowners anymore, and several years ago, (when thet still would), it was $325.00 a year.

I think you'd be hard pressed to find any market these days, that did NOT require your own insurance.

See if your state has a Farm Bureau.


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RE: Insurance???

gardner1908, I believe I have a $5 million policy to cover me at farmers markets and on the farm. You need a lot because if you poson or injure someone their insurance company will sue you for millions of dollars and if you are not covered than you pay out of pocket and lose your property

Along with the Farm Bureau you can get liability insurance from the Farmers Union as well, though they do not cover all 50 states.

I get mine through my State Farm farming policy (though another company underwrites the liability policy and it was not easy to get).

If you rent your farm/land than it will cost about $2500 a year for coverage. When I rented I was not covered and simply took my chances for 13 years. In that time I was not sued once. But now that I own a farm and the liability costs under $100 a year, I carry coverage.


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RE: Insurance???

Why is liability so high when you rent your land?


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RE: Insurance???

Insurance is cheap vs getting sued. A former insurance agent told me, that my homeowner's/farm policy would cover me, if I did not take my produce off of my farm. Once I left my property, my homeowners/farm policy would not cover. I am looking for sources to cover my farmers market, we always need to be aware what is available. Suggestions?


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RE: Insurance???

Insurance is important. Unless things are different in your country, a homeowners policy, or even an Agripolicy will NOT help you after you, or your product leaves your farm.
I am a member of 3 different Farmers markets groups. Each of these has its own umbrella policy that covers our members and even the non-members who we allow to sell at our markets. Typically the coverage is $2,000,000 maximum per incident.
Steven


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