Farm Owner’s Insurance
Like a homeowner’s policy, most general farm insurance plans cover property damages and comprehensive personal liability coverage for claims against the farm. This insurance is only available through private insurance brokers and it is suggested that you shop around as prices vary widely from vendor to vendor.
Supplemental Comprehensive Coverage and/or Product Liability Insurance
If you have the public coming to your farm, you may want to consider increasing your farm’s comprehensive personal liability insurance in case someone gets hurt on your property.
If you sell products for human consumption, you run the risk of people getting sick from your products. Make sure your general comprehensive policy covers product risks or purchase product liability insurance.
Workers Compensation Insurance
|Employers are required to carry workers compensation insurance for employees if cash wages exceeded $1,200 in the preceding calendar year. Coverage must be obtained effective April 1st of the year immediately following the year where the farm had $1,200 of payroll. If a farm has one or more unpaid interns or apprentices for the growing season, workers compensation insurance must be provided for these workers too. Insurance can be purchased from the New York State Insurance Fund (http://ww3.nysif.com/), private insurers, or an employer can form/join a self-insurance group if they meet various requirements and post bond.|
State law also requires that employees be covered by a disability benefit if they are disabled off the job. Most workers compensation insurance will also include this.
Family members (spouse or children) and farm laborers are exempt from this requirement if the farm is not incorporated. If the farm is held as a corporation or LLC then the family member exemption does not apply because no one is related to a business entity.
Farm employers are not required to carry health insurance for their employees if they have 50 or fewer employees. However, health insurance for farmers and farm families who do not have off-farm jobs can be very costly. Farming is a high-risk occupation and families put themselves at risk when they do not carry or cannot afford health insurance coverage.
Insurance Plan Options
|Gladle & Associates||Provide health insurance for farm families through the Dairymen’s Health Insurance Alliance Group Plan. You do not have to be a dairy farmer to join||Toll free: 800-479-8153|
|Healthy-NY Program||Offers affordable health insurance to small businesses, sole proprietors and working individuals||
|Obamacare||All U.S. citizens are eligible for healthcare coverage through the Health Insurance Marketplace||https://www.healthcare.gov/|
Crop Insurance and Risk Management
Crop insurance is available for specific crops to protect against weather-related and other common causes of loss. Federally subsidized policies are created by the USDA Risk Management Agency, but purchased from a crop insurance company. Current policy information is available at: www.rma.usda.gov
Federal disaster programs can also protect against significant crop losses, if beginning farmers sign up annually by the applicable deadline. Disaster programs are administered by county USDA Farm Service Agencies, listed on each State’s FSA website: www.fsa.usda.gov
Insurance Companies that Serve Farms
|Dryden Mutual Insurance Company||http://www.drydenmutual.com/|
|NY Farm Bureau/ Nationwide||https://www.nationwide.com/cp/ag-farm-bureau-ny.htm|