Organic foods have become increasingly popular and easily accessible. In fact, many Americans are growing their own food and have even started to “farm” as a hobby. Hobby farming is primarily for pleasure or recreation, not to generate profit. Some hobby farm owners hold chickens and livestock for personal use while others own horses for riding.
Unfortunately, there are many exposures that farmers do not often think of when starting their hobby farms. A few of those key risks include:
- Animals are unpredictable and owning them can be met with an array of challenges. They can escape from their fenced area only to wander into the path of an oncoming vehicle or cause harm to a neighbor’s inquisitive child
- Personal beehives can also pose a liability risk to a neighbor who is highly allergic to bees
- Tractors and other farm-related equipment can cause property damage or injuries to others for which you may be held liable
- Selling fresh produce and flowers at local farmers markets can leave you vulnerable to a liability claim
Most homeowner policies do not provide coverage for farm-related or business-related activities. Holding a simple Incidental Farm Liability Endorsement may provide all the coverage you need. AssuredPartners Personal Insurance experts can provide guidance with insurance options, contract language, services and navigating the personal insurance marketplace. We always welcome the opportunity to listen to your concerns and offer advice based on our longstanding experience in the industry. To learn more, visit AssuredPartners Personal Insurance.
Source: National Society of Accountants